Building Confidence in Volt Lithium Resource Estimates
Lithium is crucial for clean energy and transportation through rechargeable batteries for electric vehicles and electronic products. Volt Lithium Corporation, a Canadian-listed independent pure-play Lithium-from-brine exploration company, holds a significant land base spanning three Lithium-enriched brine reservoirs in Alberta, Canada. Volt commissioned Sproule ERCE to conduct an independent Lithium resource evaluation, meeting National Instrument 43-101 requirements for Mineral Projects. Sproule ERCE collaborated with the client’s existing geological and technical experts on the Technical Report to build stakeholder confidence and facilitate long-term planning of their extensive Lithium resources.
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Project Highlights
- TSX.V listed Lithium explorer
- Early Exploration in Alberta’s Lithium-from-Brine Play
- NI 43-101 and TSX.V Resource Reporting Requirements
- Optimized Long-Term Development Planning of the Lithium Play
Challenges:
Application of Deep Standards Knowledge: Utilizing our sub-surface geological and engineering expertise developed from oil and evaluations, Sproule ERCE has effectively applied our experience to lithium-from-brine evaluations to meet the regulatory requirements of NI 43-101.
Collaboration and Shared Responsibility: Sproule ERCE worked with the existing technical experts to provide a robust report meeting the needs of both our client and the Regulator.
Geomodelling Expertise: Sproule ERCE advised the client and collaborated with their partners on geological modelling challenges based on extensive experience building complex sub-surface geomodels and modelling fluid flow through porous media, resulting in technically sound estimates of in-place lithium resource volumes across the land base for all zones.
Collaboration and Shared Responsibility: Sproule ERCE worked with the existing technical experts to provide a robust report meeting the needs of both our client and the Regulator.
Geomodelling Expertise: Sproule ERCE advised the client and collaborated with their partners on geological modelling challenges based on extensive experience building complex sub-surface geomodels and modelling fluid flow through porous media, resulting in technically sound estimates of in-place lithium resource volumes across the land base for all zones.
Solutions:
Complex Geomodels and Fluid Modelling: Sproule ERCE has extensive experience building complex sub-surface geomodels and modeling fluid flow through porous media – this knowledge has been applied to brine reservoirs to model production, estimate resources, and meet the reporting requirements of NI 43-101.
Combined Geology and Reservoir Engineering Expertise: Sproule ERCE’s expertise in geology and reservoir engineering aided in pulling critical information out of the limited data creating a fully integrated evaluation.
Lithium Estimations: Initially In-Place lithium resource volumes have been estimated across the acreage position for both company interest and offsetting competitors.
Deep Standards Knowledge: Sproule ERCE final reports have been accepted by the Regulator as meeting the standards of NI 43-101.
Combined Geology and Reservoir Engineering Expertise: Sproule ERCE’s expertise in geology and reservoir engineering aided in pulling critical information out of the limited data creating a fully integrated evaluation.
Lithium Estimations: Initially In-Place lithium resource volumes have been estimated across the acreage position for both company interest and offsetting competitors.
Deep Standards Knowledge: Sproule ERCE final reports have been accepted by the Regulator as meeting the standards of NI 43-101.
Values:
Support of Strategic Decision Making: Sproule ERCE delivered an independent resource assessment that successfully addressed the complex standards of brine extraction and provided Volt Lithium Corporation with valuable information for strategic decision-making in the evolving lithium market.
Establish Objective Priorities: Risking and ranking individual opportunities across the extensive land base can be conducted objectively by Sproule ERCE, assisting the client in prioritizing drilling locations and selecting the first pilot project.
Improved Stakeholder Confidence: Sproule ERCE’s independent evaluation is critical in ensuring stakeholder confidence, providing assurance for the client’s directors, partners and investors.
Establish Objective Priorities: Risking and ranking individual opportunities across the extensive land base can be conducted objectively by Sproule ERCE, assisting the client in prioritizing drilling locations and selecting the first pilot project.
Improved Stakeholder Confidence: Sproule ERCE’s independent evaluation is critical in ensuring stakeholder confidence, providing assurance for the client’s directors, partners and investors.