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LithiumBank Announces Major Updates in Boardwalk Lithium Brine Project’s Economic Assessment

LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) has recently provided an updated Preliminary Economic Assessment (PEA) for its Boardwalk Lithium Brine Project located in West-Central Alberta, Canada.

Key Highlights from the Updated PEA

The Boardwalk Project now boasts a lithium recovery rate of 98% thanks to G2L’s cDLE® technology, with a significant increase in production to 34,005 tonnes per year of lithium hydroxide monohydrate over 20 years. Operational expenditures have decreased by 34%, marking a notable improvement in the project’s efficiency and sustainability.

Exceptional Financial Outlook and Environmental Achievements

The project’s pre-tax NPV8 stands at USD $3.7 Billion with a 25.0% IRR, and a reduced payback period from 4.1 to 3.5 years. Moreover, the use of lower-cost reagents and the majority of acid recovery exemplify the project’s advancements in reducing freshwater usage and carbon footprint.

LithiumBank also highlights the potential for commercial production within three years, emphasizing the friendly resource jurisdiction of Alberta with supportive government and established infrastructure. The inclusion of high-efficiency gas turbines enhances the project’s sustainability, further reducing its carbon footprint.

In addition to Boardwalk, LithiumBank is advancing its Park Place lithium brine project, nearing the completion of detailed subsurface modelling expected to yield an initial NI 43-101 Resource Estimate.

CEO Rob Shewchuk optimistically notes, “With the integration of G2L licensed technology, we aim to make Boardwalk a leading example in our lithium brine project portfolio.”

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