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Enertopia Corp shares advance as it hails maiden resource for Clayton Valley lithium project

Using a 400 parts per million (ppm) lithium cut-off grade, the deposit has 81.7 million tonnes at 1,121 ppm lithium in the indicated resources category

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The resource report also said preliminary testing on extracting lithium from the mined material has shown that it will be relatively inexpensive to process

Enertopia Corporation (OTCMKTS:ENRT) declared itself "very pleased" with its maiden resource for the Clayton Valley lithium project in Nevada, USA, sending shares higher.

Using a 400 parts per million (ppm) lithium cut-off grade, the deposit has 81.7 million tonnes at 1,121 ppm lithium in the higher confidence indicated resources category.

READ: Enertopia commissions maiden resource report for its Clayton Valley lithium project in Nevada

In the inferred (lower confidence) category, the NI-43 101 report has 18.1 million tonnes lithium at 1,131 ppm.

This all adds up to 487,887 tonnes of indicated resources and 109,410 tonnes of inferred of lithium carbonate equivalent (LCE).

"We are very pleased with our maiden 43-101 resource," said Robert McAllister, CEO at Enertopia.

"We used a higher-grade cutoff and the resource shows very good continuity in resource tonnage as the ppm cutoff is raised to come up with a strong resource number based on the current lithium market metrics and these are laid out in detail in the company’s maiden 43-101 report."

Significantly, the resource report also showed that preliminary testing on extracting lithium from the mined material has shown that the material will be relatively inexpensive to process.

In addition, the type of processing envisioned will have a much smaller footprint than the more common lithium brine operations.

These use large evaporation ponds, making the proposed operation more environmentally friendly.

Enertopia is focused on using sustainable technology for extracting lithium and finding other emerging intellectual property (IP) in the electric vehicle (EV) and green technology sectors to build shareholder value.

Shares in New York advanced over 22% to $0.0094..

Contact the author at [email protected]

Quick facts: Enertopia Corp

Price: 0.01294 USD

PINK:ENRT
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Market Cap: $1.66 m
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Full interview: Entertopia Corp releases initial maiden resource on Lithium...

Enertopia Corp (OTC: ENRT) President and CEO Robert McAllister joined Steve Darling from Proactive to discuss the company releasing their maiden 43-101 resource estimate for the Clayton Valley Lithium Project. McAllister talks through the numbers and what ppm cut-off the company...

on 04/03/2020

2 min read