- Preliminary funding of $500,000, with as much as a further $2,000,000 in early 2025 for tools and testing of Volt's proprietary Direct Lithium Extraction (DLE) expertise for discipline operations.
- The Bakken Formation in North Dakota generates roughly 2.0 million barrels of oilfield brine every day, representing the second largest producer of lithium-infused oilfield brine in america.
- Potential to enhance the safety of essential minerals in North America, whereas supporting the power and manufacturing sectors
CALGARY, Alberta, December 10, 2024 (GLOBE NEWSWIRE) — Volt Lithium Corp. (TSXV: VLT | OTCQB: VLTLF I FSE: I2D) (“Volt“or the”Enterprise“) publicizes that the Firm has entered right into a discipline examine settlement (the Subject Examine) with Wellspring Hydro (Wellspring or WSH) to deploy and take a look at the proprietary direct lithium extraction expertise discipline unit (DLE) from Volt within the state of North Dakota and to determine the viability of DLE from lithium-infused oilfield brine produced from the Bakken Formation.
We’re excited to collaborate with Wellspring and the State of North Dakota to check Volt's DLE discipline unit within the Bakken Formation of North Dakota, commented Alex Wylie, President and CEO of Volt. Along with our present discipline operations within the Permian Basin in Texas with our strategic associate, we’re proud to have the ability to show the capabilities of a second discipline unit in one other essential oil-producing area of america.
The Bakken Formation generates roughly 2.0 million barrels of lithium-infused oilfield brine every day, representing the second largest brine producer in america, added Wellspring CEO Mark Watson. Wellspring and the State of North Dakota have been working with the Volt staff for a number of months and are excited to deploy a discipline unit to the Bakken Formation in early 2025.
The Bakken collaboration in North Dakota provides to Volt's present asset portfolio together with areas in Texas (Permian Basin) and Alberta (Keg River Formation), each of that are with separate strategic companions from Wellspring.
Subject examine in North Dakota
The State of North Dakota, via WSH, supplied $450,000 in money (the grant) to Volt to accumulate tools and conduct testing to determine the viability of the expertise. Volt's direct lithium extraction for discipline operations in North Dakota. Volt hopes to obtain a further $50,000 via a closing report on the deployment of funds from the grant. Volt, via WSH, will request further funding of as much as US$2,000,000 for the sphere examine in early 2025.
Volt and Wellspring acquired a grant from the State of North Dakota, appearing via its Industrial Fee Analysis and Renewable Vitality Program. The aim of this funding is to encourage the usage of renewable power, profit companies that function within the state of North Dakota, and make the most of North Dakota's workforce.
About Wellspring Hydro
Wellspring, a North Dakota-based firm, is devoted to remodeling brine from the Bakken oil discipline into invaluable assets. Our mission is to harness the complete potential of oilfield brines, driving innovation and sustainability in useful resource administration.
About Volt-Lithium
Volt is a lithium growth and expertise firm that goals to change into one of many first business producers of lithium carbonates from oilfield brines in North America. Our technique is to generate shareholder worth by leveraging administration's hydrocarbon expertise and present infrastructure to extract lithium deposits from present wells, thereby decreasing funding prices, decreasing dangers and supporting the worldwide transition to scrub power. With 4 differentiating pillars and proprietary Direct Lithium Extraction (DLE), Volt's revolutionary strategy to growth is targeted on producing the best lithium recoveries on the lowest prices, positioning us for future commercialization. We’re dedicated to working effectively and transparently in all areas of the enterprise, remaining targeted on creating long-term, sustainable shareholder worth. Traders and/or different events can signal as much as obtain updates on the Firm's ongoing progress on its web site: https://voltlithium.com/.
Contact particulars
For investor relations inquiries or additional data, please contact:
Alex Wylie, President and CEO
Such. : +1.403.830.5811
E: information@voltlithium.com
Or
Greg Foofat, Vice President, Investor Relations
Such. : +1.587.888.5213
E: information@voltlithium.com
Ahead-looking statements
This press launch contains sure forward-looking statements and forward-looking data inside the which means of relevant Canadian securities legal guidelines. When used on this press launch, the phrases anticipate, imagine, estimate, count on, goal, plan, forecast, could, will, would, may, plan and comparable phrases or expressions, establish statements or forward-looking data. Statements, apart from statements of historic truth, could represent forward-looking data and embrace, with out limitation, data relating to operational milestone phrases, quantity will increase. Enhancements in extraction time and steady processing versus batch processing, deployment of the sphere unit within the Permian Basin, manufacturing of battery-grade lithium by the sphere unit, and business manufacturing of lithium from brine oil discipline. With respect to the forward-looking data contained on this press launch, the Firm has made quite a few assumptions. Though the Firm considers these assumptions to be affordable, they’re inherently topic to important uncertainties and contingencies and should show to be incorrect. As well as, there are identified and unknown danger elements that would trigger the precise outcomes, efficiency or achievements of the Firm to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by any forward-looking data contained within the current, together with identified danger elements described within the Firm's annual data type for the fiscal 12 months ended June 30, 2024 and the quick type base shelf prospectus (closing) dated July 20, 2023. All forward-looking data contained herein are offered of their entirety topic to this cautionary assertion, and the Firm undertakes no obligation to revise or replace any such forward-looking data or to publicly announce the results of any revision of any of the forward-looking data contained herein to mirror future outcomes, occasions or developments, besides the place required. by legislation.
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this press launch.
Supply: Volt-Lithium
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