LithiumBank Resources (TSXV: LBNK; US-OTC: LBNKF) announced Monday an intellectual property licencing agreement for direct lithium extraction (DLE) technology owned by G2L Greenview Resources.
Effective from Sept. 8, the agreement with G2L’s parent, Go2Lithium, gives LithiumBank a full licence to use a group of continuous ion-exchange technologies in Alberta and Saskatchewan, significantly enhancing the extraction of lithium salts from the enriched brines at the company's project sites.
This collaboration promises to enhance the efficiency of the Boardwalk DLE circuit in west-central Alberta, notably by slashing operational costs. Both companies expect the licenced technology to improve lithium recovery rates and concentrate quality substantially.
G2L will ship a high-capacity pilot plant to Alberta by October to accelerate the project. With a daily processing capacity of 8,000-10,000 litres, this plant ranks as one of the largest DLE pilot plants in North America.
As a part of the agreement, LithiumBank will issue up to 14 million common shares to G2L upon meeting specific milestones to strengthen the partnership that aims to transform lithium extraction in Canada.