This Preliminary Economic Assessment reports a proposed lithium hydroxide monohydrate production facility using direct lithium extraction technology, supported by mineral resource estimates from the Leduc Formation aquifer in west-central Alberta.
Report context
This NI 43-101 technical report and Preliminary Economic Assessment for the Boardwalk Project was prepared for LithiumBank Resources Corp. with an effective date of 22 February 2024. The report was compiled by Hatch Ltd. with input from independent consultants including APEX Geoscience Ltd., Fluid Domains, GLJ Ltd., Scott Energy Inc., and Go2Lithium. The Boardwalk Property is located in west-central Alberta, Canada, directly south and west of the Town of Valleyview, approximately 85 km east of the City of Grande Prairie and 270 km northwest of the City of Edmonton. The property comprises 26 combined Rock-Hosted Mineral Permits and Brine-Hosted Mineral Licences totaling 170,424 hectares, with LithiumBank holding 100% ownership of the mineral rights.
Processing route
Proposed processing overview
The proposed project is based on a lithium hydroxide monohydrate plant that utilizes direct lithium extraction (DLE). The processing facility receives treated lithium brine from within a brine well-field. The brine is treated using DLE, utilizing Go2Lithium's DLE technology, where lithium is selectively extracted from the brine. Post DLE, the concentrated lithium brine stream undergoes further processing steps including purification, concentration, and conversion to produce commercial battery grade lithium hydroxide monohydrate.
Brine feed and pre-treatment
The process description in Section 17 of the report outlines the proposed recovery methods. Brine feed from the production wells is delivered to the central processing facility. The brine undergoes pre-treatment prior to entering the lithium extraction circuit.
Lithium extraction (proposed design)
The proposed DLE process was informed by metallurgical testwork described in Section 13 of the report. Laboratory testwork was conducted on brine samples collected by LithiumBank in 2021. The testwork program evaluated Go2Lithium's DLE technology, including loading and elution steps.
Lithium equilibrium adsorption isotherms were measured at 70 degrees Celsius. The rate of lithium and calcium adsorption from feed brine was evaluated at the same temperature. The rate of strontium, potassium, magnesium, and barium adsorption from feed brine was also measured. Lithium elution isotherms were determined using sulfuric acid at pH 1.5, and lithium elution kinetics were assessed under the same conditions.
A conceptual schematic of the overall lithium production process shows brine feed entering the DLE circuit. The conceptual flowsheet for DLE represents solution flow with solid lines and sorbent flow with broken lines.
Impurity removal and conversion (proposed design)
Following DLE, the process includes impurity removal steps. A lithium sulfate electrochemical process is proposed for further purification. The final step involves lithium hydroxide monohydrate (LHM) crystallization.
A simplified block flow diagram of the lithium extraction processing plant is presented in the report.
Historical brine sampling
Historical brine sampling programs have been conducted at the Sturgeon Lake Oilfield. In 2011, Lithium Exploration Group Inc. conducted a brine sampling program at the Sturgeon Lake Oilfield. In 2016, MGX Minerals Inc. conducted a brine sampling program that included samples collected from the Sturgeon Lake South Gas Plant. LithiumBank conducted a brine assay sampling program in 2021 that included sampling from oil and gas wells penetrating the Leduc Formation aquifer. These historical data contributed to the geochemical database used in resource estimation.
Metallurgical testwork results
Section 13 of the report provides details of the mineral processing and metallurgical testing. A comparison of HRL analysis of synthetic brine sample to Canadian laboratories was conducted. Replicate measurements of control samples from different analytical runs were performed. Recovery to loaded sorbent and eluate was reported as part of the testwork results.
Quality assurance and quality control (QA/QC) protocols were implemented for the testwork campaign. Standard addition calibration was performed at HRL Technology Group using lithium spikes added to 15x diluted synthetic brine.
Key reported parameters
| Parameter | Value | Unit | Basis |
|---|---|---|---|
| Indicated resource aquifer volume | 19.94 | km³ | 3-D geological model, Leduc Formation, Sturgeon Lake South Oilfield |
| Inferred resource aquifer volume | 305.00 | km³ | 3-D geological model, Leduc Formation, Sturgeon Lake Reef Complex |
| Average effective porosity | 5.3 | % | Core plug measurements from Leduc Formation |
| Brine in pore space | 98 | % | Modal abundance assumption |
| Indicated resource brine volume | 1.04 | km³ | Calculated from aquifer volume, porosity, and brine saturation |
| Inferred resource brine volume | 15.84 | km³ | Calculated from aquifer volume, porosity, and brine saturation |
| Indicated resource average lithium concentration | 71.6 | mg/L Li | Lithium assay database |
| Inferred resource average lithium concentration | 68.0 | mg/L Li | Lithium assay database |
| DLE loading temperature | 70 | °C | Testwork condition |
| DLE elution pH | 1.5 | pH | Testwork condition using sulfuric acid |
Project website: https://www.lithiumbank.ca/projects/boardwalk
Technical qualifications
The report was prepared by qualified persons who each assume responsibility for those sections referenced with their name in Table 2-1 of the report. None of the qualified persons accept any responsibility or liability for sections or areas prepared by other qualified persons. This report was prepared to allow LithiumBank Resources Corp. to reach informed decisions respecting development of the Boardwalk Project. Except for purposes legislated under provincial securities law, any use of this report by any third party is at that party's sole risk. This report contains estimates, projections, and conclusions that are forward-looking information. Forward-looking statements are based upon the responsible qualified person's opinion at the time made; however, most cases involve significant risk and uncertainty. The qualified persons have relied upon certain reports, opinions, and statements of certain experts and the owner as permitted by Item 3 of Form 43-101F1. None of the qualified persons undertake any obligation to update any information contained in this report.
Validation limitations are noted in Section 12.5 of the report.
Source: NI 43-101 Technical Report & Preliminary Economic Assessment for LithiumBank Resources Boardwalk Lithium-Brine Project in West-Central Alberta, Canada, effective 22 February 2024, Section 1 (Summary), Section 13 (Mineral Processing and Metallurgical Testing), Section 14 (Mineral Resource Estimates), Section 16 (Mining Methods), Section 17 (Recovery Methods).
