{"id":29278,"date":"2023-01-27T08:39:04","date_gmt":"2023-01-27T08:39:04","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=29278"},"modified":"2023-05-12T13:28:54","modified_gmt":"2023-05-12T12:28:54","slug":"facilitating-sustainable-lithium-production-canadas-energy-transition","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/facilitating-sustainable-lithium-production-canadas-energy-transition\/29278\/","title":{"rendered":"Facilitating sustainable lithium production for Canada\u2019s energy transition"},"content":{"rendered":"
With a long history of successful resource development, Western Canada can significantly contribute to Canada\u2019s energy transition<\/a> industries with lithium-rich geological settings when developed utilising the extensive services present within Canada of technical and operational expertise, an experienced workforce, stable mineral rights tenure and regulatory structures in the provinces of Saskatchewan and Alberta<\/a>. Global demand for sustainable and low-cost energy supplies continues to grow as countries transition their economies and societies away from being powered by traditional energy sources such as fossil fuels. Effective energy storage in lithium batteries garners significant attention for energy producers in their attempts to meet this growing demand for alternative energy sources. The dramatic increase in demand for and growth in electric vehicles (EVs), in particular, facilitates a pivot towards lithium production and exploration.<\/p>\n Grounded Lithium Corp. (TSXV:GRD OTCQB: GRDAF) is a publicly traded, Alberta-headquartered lithium resource company focused on supplying lithium into the rapidly developing electricity-powered economy. Grounded Lithium focuses on lithium extraction from the production of subsurface brines in Western Canada; a rapidly expanding new industry. The Grounded Lithium team focuses on generating value through a balanced model of exploration, production, and strategic acquisitions of subsurface mineral rights bearing lithium-rich brines. Environmental and economic sustainability are at the forefront of the minds of all team members in formulating its strategy and execution.<\/p>\n The Innovation Platform<\/em> spoke to Gregg Smith, President, CEO and Director of Grounded Lithium, to find out more about Grounded Lithium\u2019s plans to bring lithium production to market.<\/p>\n We began general discussions in 2020 about the global market trends of the transition from traditional energy sources (such as oil and gas) to electricity as well as the growing demand for EVs. From the perspective of a team of experienced resource development professionals, we examined the economic potential for exploration and development of lithium from brines. Our assembled team reviewed the potential in Western Canada and began to assess at a high level where it would be most attractive based on economic considerations. While examining the rock quality and mapping, we also gathered information on the availability of lithium mineral rights to see if and where potential lithium projects could be contemplated in Western Canada. We founded Grounded Lithium in late 2020 when we realised the feasibility of a commercial project exhibiting both environmental and economic sustainability.<\/p>\n As we gathered information in 2020 and mapped regionally, we followed the rocks which led us to recognise the Kindersley area of Western Saskatchewan provided key factors contributing to a potentially \u2018best-in-class\u2019 viable lithium from brine project. The Leduc\/Duperow formation in this area provides the shallowest depth position to access thick, porous reservoir containing lithium-rich brines. The thick reservoir provides significant brine storage and the deliverability necessary for economic development. We minimise our costs to access the resource due to the shallowest depth possible. Furthermore, these brines contain no oil or sour gas that must be removed prior to lithium extraction from the brines, thus providing us with a competitive cost structure. This area has a diverse spectrum of mineral rights with a mix of Crown ownership, private freehold rights and large tracts of freehold rights owned by a number of companies and individuals. In early 2021, we successfully leased approximately 14 sections of lithium mineral rights from individual freehold owners and also acquired approximately 21 additional sections of lithium rights from a Saskatchewan Crown Subsurface Mineral Rights sale. As of late 2022, we have now grown that land base to greater than 300 sections of lithium mineral rights with a mix of Crown and freehold.<\/p>\n 2022 was an active and pivotal year in our company\u2019s evolution. Grounded Lithium achieved a public listing on the TSX Venture Exchange and achieved a trading quotation on the OTCQB Venture Market. We successfully raised capital through several rounds of accretive financing during the course of the year to address near-term catalysts. In a little over two years, we accumulated a significant land base of lithium mineral rights, including the leasing of approximately 231 sections in 2022 alone. The company successfully drilled and completed the second ever dedicated lithium test in Saskatchewan, demonstrating the company\u2019s ability to secure the appropriate services to successfully drill wells with very modest capital intensity given the relatively shallow depth of the Duperow formation. More importantly, such wells confirmed lithium concentrations in our Kindersley core area, as well as providing economic deliverability rates in the area.<\/p>\nWhat is the Grounded Lithium story?<\/h3>\n
Where in Western Canada is Grounded Lithium focusing its initial lithium projects?<\/h3>\n
What did Grounded Lithium accomplish in 2022 to strengthen the platform?<\/h3>\n