E3 Metals (ETMC.V) appears to be very serious about developing the Leduc Reservoir in an attempt to produce lithium carbonate. The current lithium resource on the property already stands at 6.7 million tonnes of LCE but as one of the new permits is directly adjacent to (and thus expanding) the Clearwater zone, E3 Metals is in a good position to try to expand the current resource of 1.9 million tonnes of lithium carbonate. E3 will now initiate a sampling program to determine if the mineralization encountered on the Clearwater License continues onto Clearwater east, and we are looking forward to see the initial exploration results at Clearwater.
A second permit is located directly east of the Exshaw West resource, which contains almost 3.9 million tonnes of LCE. These two additions have expanded E3 Metals’ total land position at the Leduc Reservoir to in excess of 5,900 square kilometers.
As a reminder, E3 Metals is the joint venture partner of Comstock Metals (CSL.V) which participated in E3’s private placement. We are currently preparing a Q&A report with Steven Goldman, Comstock’s new CEO to discuss the strategic direction of the company.