- LithiumBank Resources (OTCQX: LBNKF) secures CAD $3.9 million in non-dilutive funding from Emissions Reduction Alberta.
- The funding will advance key initiatives in the Boardwalk Lithium Brine Project, aiming for completion by the end of 2026.
- LithiumBank is the largest known holder of lithium brine resources in North America, with top-grade resource estimates in Alberta.
LithiumBank Resources Corp. (OTCQX: LBNKF) has been awarded CAD $3.9 million in non-dilutive funding from Emissions Reduction Alberta (ERA). The funding will support the advancement of its flagship Boardwalk Lithium Brine Project located in west-central Alberta. The ERA program will refund 50% of eligible expenditures for each milestone completed, significantly aiding in project development.
The allocated funds will concentrate on three main initiatives: completing an additional drill hole through the Leduc formation reservoir, conducting extended Direct Lithium Extraction (DLE) testing, and finalizing a Feasibility Study that focuses on a modular production approach. These initiatives are strategically planned for completion by the end of 2026, aiming to utilize and expand the existing infrastructure.
LithiumBank, with its consolidated strategic Brine Hosted Mineral Licenses at Boardwalk and Park Place, holds the title of the largest known holder of lithium brine resources in North America. Both projects report the highest-grade resource estimates in Alberta. The company's Boardwalk project benefits from a geographic advantage in Alberta, a region known for its rich geology and absence of overlapping pore space or carbon sequestration permits.
The Boardwalk project is positioned to be a leading lithium production venture in Canada, with a commercialization strategy that includes modular, ready-to-scale DLE technology. This approach is expected to reduce development timelines and minimize initial capital expenditures (Capex). According to CEO Rob Shewchuk, this strategy aligns with Alberta's long-term environmental and economic goals.
