World’s Largest Petro-Lithium Resource
E3 Metals has just announced the world’s largest Petro-Lithium resource located in Southern Alberta. Petro-Lithium may become a major component for lithium batteries. E3 will use leading extraction technologies as it moves towards commercialization.
E3 Metals Corp’s properties are comprised of 61 Alberta Metallic and Industrial Mineral Permits (Permit Map), which includes the rights for lithium, totaling 477,898 hectares (4779 square kilometres) that can be further sub-divided into seven separate sub-properties, or groups of contiguous permits.
A Rapidly Growing Market:
The main driver behind the increase in demand, and the excitement for lithium as a commodity, has been driven by the high efficiency lithium-ion battery. Although Tesla may be at the forefront of the story in the recent years, and certainly making the most headlines, the lithium-ion battery has solidified itself as the battery of choice for automakers, mobile technology such as laptops and mobile phones, and pretty much any company looking for a better battery from their product. The real growth for lithium as a bulk commodity will likely be in the expanding large-scale battery market, such as the Los Angeles battery backup facility Tesla has recently completed, with Adelaide to soon follow suit. Goldman Sachs estimate that about 63kg of Lithium go into a Tesla 70 kWh battery, about 0.9kg/kWh. However, some reports suggest that the number can be as high as 3.0kg/kWh of unrefined, but pure Lithium Carbonate (LiCO3).
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