Park Place

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Park Place project consists of 568,736 hectares of mineral titles that cover ~95% of the Leduc reef complex, 50 km south of Boardwalk. The Park Place land acquisition is strategic for LithiumBank as the Leduc Carbonate Reef Complex (Woodbend Group) and the underlying Swan Hills Carbonate Complex (Beaverhill Lake Group) have historically been known to host the highest grades of lithium-in-brine concentrations in Alberta. Historical samples collected by multiple petro-operators and donated to the Alberta Geological Survey, range from 76 mg/l to 130 mg/l lithium are located within LithiumBank’s Park Place Metallic and Industrial Mineral permit area. These samples are considered historic and have not been verified by a Qualified Person (QP) under the latest NI 43-101 Standards of Disclosure and cannot be relied upon and thus the Company is not treating the historical estimate as current mineral resources or mineral reserves.

In September 2023, LithiumBank engaged SLB (NYSE: SLB) (formerly Schlumberger Limited) a global technology company, to provide detailed reservoir modelling for an upcoming resource estimation and preliminary economic assessment of the Park Place Project

A February 2023 hydrogeological study prepared by Matrix Solitions, indicates that Park Place hosts the largest lithium-bearing brine, by volume, held by a single operator in North America at 76.3 km3 of brine (76.3 B m3). The entire brine is wholly contained within the 1.57 M acre Crown mineral rights-only land package that is endowed with modern infrastructure and abundant geological data from decades of oil & gas activity.

Highlights from the report include:

  • Park Place hosts a combined total of 76.3 km3 (76.3 B m3) of lithium-bearing brine, 49.8 km3 within the Leduc Formation and 26.5 km3 within the Swan Hills Formation
  • At the time of publication, the largest reported lithium-rich brine project, by volume, in North America held by a single operator
  • Favourable average net total porosity of 11%, 12% in the north and 10% in the south, using a 3% porosity cut-off
  • Maximum Formation thickness: Leduc 350 metres & Swan Hills 250 metres
  • Thicker zones (over 200m) in the Leduc Formation are correlated with higher porosity and are locations ideal for potential production hubs
  • The Leduc Formation and underlying Swan Hills Formation are hydraulically connected, representing a continuous resource volume
  • Leduc Formation brine sample, collected in December 2022 from Park Place, reported 77.2 mg/L lithium (News Release Jan. 17, 2023)

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