CALGARY, Alberta--(BUSINESS WIRE)--Midas Vantage Projects (MVP) Lithium Limited, the world’s leader in green solutions for lithium extraction, announces the discovery of an estimated in-situ lithium carbonate equivalent (LCE) resource of 9.9 million tonnes, with an average concentration of 55 mg/L, within the Montney Formation in Western Canada. The resource spans an estimated area of 37,000 square kilometers, marking a major milestone for MVP Lithium in its ongoing exploration of lithium-rich formations.
MVP Lithium is preparing to file a NI 43-101-compliant technical report with the Alberta Energy Regulator (AER) within the next 90 days to validate and formalize this resource estimate. The resource concentration of 55 mg/L is considered economically viable under current lithium extraction technologies, setting the stage for further development of the site.
This significant resource discovery comes at a crucial time for the global lithium market. According to the World Bank's Climate-Smart Mining: Minerals for Climate Action report, global production of lithium could grow by nearly 500% by 2050 to meet the rising demand for clean energy technologies, particularly in electric vehicle (EV) batteries. Lithium is also listed on the Government of Canada’s Critical Minerals List, emphasizing its strategic importance for Canada’s sustainable economic success and the country’s leadership in the global mining sector.
Western Canada has the potential to emerge as a key producer of lithium to support the growing demand for lithium-ion batteries. In line with this vision, MVP Lithium is developing a prototype Lithium Metal Anode Battery, which promises exceptional performance in extreme cold conditions, extended driving ranges for EVs, and the ability to recharge in just 10 minutes. The company’s battery technology also boasts a zero-carbon footprint, contributing directly to Canada’s net-zero emissions target by 2050.
About MVP Lithium
MVP Lithium Limited leverages advanced cutting-edge technologies to extract lithium from Western Canada’s rich brines, positioning itself as a leader in sustainable and responsible resource management. Committed to delivering zero-carbon emission and ethically sourced lithium, the company plays a pivotal role in supporting the global clean energy transition as a key provider of responsibly sourced lithium and green energy solutions.
