Grounded Lithium Corp. (TSXV: GRD) reported that an updated National Instrument 43-101 – Standards of Disclosure for Mineral Projects was filed on November 30, 2022, regarding the Kindersley Lithium Project. The Updated Technical Report was created or supervised by Sproule Associates Limited, a renowned international firm specializing in subsurface fluid resource evaluations with more than seventy years of expertise.
The most recent Technical Report states that the KLP contains 3.7 million tonnes of Lithium Carbonate Equivalent (LCE) as an inferred resource, a 28% increase from the 2.9 million (LCE) reported in the NI 43-101 Technical Report from April 15, 2022. This expansion is mainly due to the enhancement of the Company’s land base in the Kindersley Lithium Project and the results from the lithium test that was completed on December 13, 2022. The Kindersley Lithium Project comprises 266 sections (around 69,000 hectares) in total, gross and net, with the Company’s total landholdings set at 300 sections (roughly 78,000 hectares). The Revised Technical Report has been created with the same level of precision as the methods used by oil and gas operators when evaluating subsurface fluid dynamics. The Updated Technical Report presents the most precise estimations of subsurface porosity that were determined by completing a petrophysical analysis that adjusts porosity readings based on the type of rock. Given the generally uniform geology throughout the area, the assessment entailed constructing a three-dimensional geological model to link the sedimentary layers between the wells. By doing this, the Company-controlled parcels in Kindersley Lithium Project received a much more accurate representation of the brine-in-place instead of just making a generic assumption about the average porosity and average thickness.