 |
|||||||||
 |
 |
 |
|||||||
VANCOUVER, BC – November 27, 2024 – TheNewswire – One World Lithium Inc. (CSE-OWLI) (OTCQB-
OWRDF) (the “Company” or “OWL”) is pleased to announce in accordance with the Assignment and License Agreement (the “Agreement”) with MatterGreen LLC (“MG”) it has now completed the assignment of the two patent applications for Lithium Recovery that is a Direct Lithium Carbonate Extraction Technology (“DLCE”) from MG together, (the “OWL Patent Applications”). OWL is now the sole and exclusive owner of the Patent Applications that are for Lithium Recovery from natural brine and for slurries made from pegmatite, clay, volcanic rock and sediment.
As in accordance with the Agreement the Company has issued 1,000,000 common shares from treasury for the assignment of the OWL Patent Applications.
OWL will now fund MG to conduct and manage the development, testing and R&D laboratory work in MG’s lab facilities in Albany, Oregon, USA that is associated with the commercialization of the OWL Patent Applications along with the US Department of Energy Patents titled Selective Lithium Recovery as Lithium Carbonate from natural brines (see News release dated March 13, 2024).
The Company will now proceed with additional bench tests at MG’s lab in Albany, Oregon, USA on lithium clay samples received from an advanced lithium project in the United States. The company will work with the samples to create an effective lithium slurry to validate the DLCE technology to produce a lithium carbonate from the slurry under a variety of conditions. This process would enable lithium carbonate generation directly from slurries made from clays, without requiring sulfuric acids, soda ash, sorbents, and multiple concentration steps as in most evaporative and direct lithium extraction processes.
In addition, brine samples from various lithium brine projects are also being shipped to the lab for ongoing testing.
Significant results from the previous bench test (see news release dated November 28, 2023) on lithium brine that validated proof of concept of the technology included:
1. Simultaneous lithium extraction and lithium carbonate precipitation in a brine;
2. Process time of approximately nine (9) minutes;
3. Selective formation of lithium carbonate;
4. Collection of the lithium carbonate particles generated; and
5. With the DLCE, lithium extraction and lithium carbonate production are possible without using sorbents, sulfuric acids, soda ash, and fresh water, benefiting environments.
Dr. Jinichiro Nakano of MatterGreen LLC stated; “The current objective with OWL is to commercialize the DLCE technology that rapidly, economically, and environmentally extracts lithium and simultaneously generates lithium carbonate directly from a natural brine and a slurry, and thus to eliminate the environmental burdens induced by existing extraction & mineralization practices.”
Doug Fulcher, President and CEO states: “ We are extremely pleased to work with the scientists at MG’s lab in Albany as we will continue to engage with Lithium Companies to acquire samples of both lithium brine as well as samples of clay, pegmatite, volcanic rock and sediment that can be processed into a slurry for extraction testing. This also enables the company to begin the process of developing containerized pilot plants that can be mobilized to lithium projects globally for further testing.
About MatterGreen LLC and its Founder
Dr. Jinichiro Nakano specializes in Material Science and Engineering. Prior to founding MG, Jinichiro was Technical Fellow with the U.S. Department of Energy in Oregon where he developed novel energy and material technologies that led to numerous patents and international recognitions.
One World Lithium Inc. remains focused on properties of merit that may contain lithium. The Company is also focused on commercial application of its extraction technologies for natural brine and for slurries made from clay, pegmatite, volcanic rock and sediment. OWL intends to license or joint venture its technologies to current and future lithium carbonate producers. For more information, visit: https://oneworldlithium.com/.
On behalf of the Board of Directors of One World Lithium Inc.,
“Douglas Fulcher”
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email [email protected] or call 1-888-280-8128.
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. Forward looking information is based on certain key expectations and assumptions made by the management of the OWL, including, but not limited to: (I) the ability of the OWL & MG to further develop OWL’’s Patent Applications to change the lithium extraction industry, and (II) OWL’s ability to commercialize its lithium extraction technologies. Although OWL believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because OWL can give no assurance that they will prove to be correct. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from the those anticipated in such statements, important factors that could cause actual results to differ materially from the company’s expectations include: (I) the inability of OWL to commercialize its lithium extraction technologies (II) OWL’s inability to execute its business plan and raise any required financing, (III) risks and market fluctuations common to the mining industry and lithium sector in particular, and (IV) advancements in other new lithium extraction technologies. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, some of which are beyond the control of the OWL. The reader is cautioned not to place undue reliance on any forward-looking information contained in this press release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release
Copyright (c) 2024 TheNewswire – All rights reserved.