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 to conduct an independent Lithium resource evaluation, meeting National Instrument 43-101 requirements for Mineral Projects. Sproule 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.
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
Challenge
- Application of Deep Standards Knowledge: Utilizing our sub-surface geological and engineering expertise developed from oil and evaluations, Sproule has effectively applied our experience to lithium-from-brine evaluations to meet the regulatory requirements of NI 43-101.
- Collaboration and Shared Responsibility: Sproule worked with the existing technical experts to provide a robust report meeting the needs of both our client and the Regulator.
- Geomodelling Expertise: Sproule 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.
Solution
- Complex Geomodels and Fluid Modelling: Sproule 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’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 final reports have been accepted by the Regulator as meeting the standards of NI 43-101.
Value
- Support of Strategic Decision Making: Sproule 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, assisting the client in prioritizing drilling locations and selecting the first pilot project.
- Improved Stakeholder Confidence: Sproule’s independent evaluation is critical in ensuring stakeholder confidence, providing assurance for the client’s directors, partners and investors.
Vice President, Reservoir Services
Senior Manager, Engineering
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