- Preliminary funding of US$500,000, and as much as an extra US$2,000,000 in early 2025 for gear and testing of Volt’s proprietary direct lithium extraction expertise (DLE) for subject operations
- 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 within the U.S.
- Potential to boost North America’s safety of crucial minerals, whereas supporting the power and manufacturing sectors
CALGARY, Alberta, Dec. 10, 2024 (GLOBE NEWSWIRE) — Volt Lithium Corp. (TSXV: VLT | OTCQB: VLTLF I FSE: I2D) (“Volt” or the “Company“) pronounces that the Firm has entered right into a subject examine settlement (the Area Research) with Wellspring Hydro (Wellspring or WSH) to deploy and take a look at Volt’s proprietary direct lithium extraction expertise (DLE) subject unit 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 be collaborating with Wellspring and the State of North Dakota to trial Volt’s DLE subject unit within the Bakken formation in North Dakota, commented Alex Wylie, President & CEO of Volt. Along with our current subject operations within the Permian Basin in Texas with our Strategic Accomplice, we’re proud to have the ability to reveal the capabilities of a second subject unit in one other vital oil producing area of the US.
The Bakken formation generates roughly 2.0 million barrels of lithium-infused oilfield brine every day, representing the second largest producer of brine within the U.S., added Mark Watson, CEO of Wellspring. Wellspring and the State of North Dakota have been working with the Volt workforce for the previous a number of months and are excited to deploy a subject unit within the Bakken formation in early 2025.
The North Dakota Bakken collaboration provides to Volt’s current asset portfolio of performs in Texas (Permian basin) and Alberta (Keg River formation), each of that are with separate strategic companions from Wellspring.
North Dakota Area Research
The State of North Dakota, via WSH, has contributed US$450,000 money (the Grant) to Volt for the aim of procuring gear and conducting testing to determine the viability of Volt’s direct lithium extraction expertise for subject operations in North Dakota. Volt expects to obtain an extra US$50,000 via a closing report of the deployment of proceeds of the Grant. Volt, via WSH, will apply for as much as an extra US$2,000,000 in funding for the Area Research in early 2025.
Volt and Wellspring have been awarded grant funding from the State of North Dakota appearing by and thru its Industrial Fee Analysis and Renewable Power Program. The aim of this funding is to encourage using renewable power, profit companies that function within the State of North Dakota and to make the most of the North Dakota workforce.
About Wellspring Hydro
Wellspring, a North Dakota-based firm, is devoted to reworking the Bakken oilfield brine into beneficial sources. 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 aiming to be one in all North America’s first business producers of lithium carbonates from oilfield brine. Our technique is to generate worth for shareholders by leveraging administration’s hydrocarbon expertise and current infrastructure to extract lithium deposits from current wells, thereby lowering capital prices, decreasing dangers and supporting the world’s clear power transition. With 4 differentiating pillars, and a proprietary Direct Lithium Extraction (DLE) expertise and course of, Volt’s revolutionary method to growth is concentrated on producing the very best lithium recoveries with lowest prices, positioning us for future commercialization. We’re dedicated to working effectively and with transparency throughout all areas of the enterprise staying sharply targeted on creating long-term, sustainable shareholder worth. Traders and/or different events could join updates in regards to the Firm’s continued progress on its web site: https://voltlithium.com/.
Contact Info
For Investor Relations inquiries or additional data, please contact:
Alex Wylie, President & CEO
T: +1.403.830.5811
E: data@voltlithium.com
Or
Greg Foofat, Vice President, Investor Relations
T: +1.587.888.5213
E: data@voltlithium.com
Ahead Trying Statements
This information launch consists of sure forward-looking statements and forward-looking data throughout the that means of relevant Canadian securities legal guidelines. When used on this information launch, the phrases anticipate, imagine, estimate, anticipate, goal, plan, forecast, could, will, would, may, schedule and comparable phrases or expressions, determine forward-looking statements or data. Statements, aside from statements of historic reality, could represent forward-looking data and embody, with out limitation, data with respect to the phrases of the operational milestone, Quantity Scale-up. Extraction Time Enhancements and Steady Processing vs Batch Processing, the deployment of the Area Unit within the Permian Basin, the manufacturing of battery grade lithium by the Area Unit, and the business manufacturing of lithium from oilfield brine. With respect to the forward-looking data contained on this press launch, the Firm has made quite a few assumptions. Whereas the Firm considers these assumptions to be cheap, these assumptions are inherently topic to vital uncertainties and contingencies and should show to be incorrect. Moreover, there are identified and unknown danger components which may trigger the Firm’s precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking data contained herein together with these identified danger components outlined within the Firm’s annual data kind for the yr ended June 30, 2024 and (closing) quick kind base shelf prospectus dated July 20, 2023. All forward-looking data herein is certified in its entirety by this cautionary assertion, and the Firm disclaims any obligation to revise or replace any such forward-looking data or to publicly announce the results of any revisions to any of the forward-looking data contained herein to mirror future outcomes, occasions or developments, besides as required by legislation.
Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this press launch.
Supply: Volt Lithium
