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Enertopia says Clayton Valley solution testing well underway

The Vancouver-based firm also said it will issue more than 5.5 million shares at C$0.026 apiece and more than 5.5 million warrants

Batteries
The firm is focused on extracting Lithium, used in batteries, from its synthetic brine solutions

Enertopia Corp (CNSX:TOP) (OTCMKTS:ENRT) said Wednesday that its solution testing on material from its Clayton Valley project in Nevada is well underway. The Vancouver-based firm also said it has closed the first tranche of its private placing, bringing in around C$143,000.

In the brief released Wednesday, Enertopia said: "The company is well into its systematic and complete solution testing of the drilled lithium enriched horizons."

The aim is to map out the subsurface horizons and further ascertain the grade of lithium in the synthetic solution that can be potentially recovered in a low CAPEX mining and processing scenario.

"We look forward to providing detailed updates as testing results are received over the coming weeks and months," said Enertopia's president and CEO Robert McAllister.

The company also said it will issue more than 5.5 million shares at C$0.026 each and more than 5.5 million warrants that expire on March 27, 2023. The warrants have an exercise price of US$0.04 during the four years.

The tranche raised C$143,175.99.

Contact Giles at [email protected]

Follow him on Twitter@Gile74

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Price: 0.01 CAD

CSE:TOP
Market: CSE
Market Cap: $1.28 m
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Enertopia expects lithium brine results by end of June

Enertopia Corp (CSE:TOP, OTCQB:ENRT) CEO Robert McAllister provided investors with the latest update on its lithium brine testing and work at the Clayton Valley project in Nevada. McAllister says the lithium sector is the fastest-growing resource sector of size, and he says demand will be...

on 16/6/18

2 min read