Grounded Lithium's Major $4.5M Funding for KLP Development

Exciting Developments at Grounded Lithium Corp.

Grounded Lithium Corp. (OTCQB: GRDAF) has recently made headlines with its approved budget aimed at the development of the Kindersley Lithium Project (KLP). This initiative is made possible through a strategic partnership with Denison Mines Corp. The budget of CAD$4.5 million is set to propel a series of activities that will refine the technical aspects of the project and ultimately lead to the completion of a pre-feasibility study.

Details of the Budget Approval

The recently approved budget reflects the company’s commitment to ensuring that its lithium project reaches commercial viability. Grounded Lithium is focusing on advanced drilling methods, resource analysis, and metallurgical tests that will optimize lithium extraction methods.

Major Components of the Budget

The budget encompasses several key initiatives:

• Development of a NI-43-101 compliant pre-feasibility study report.
• Extensive drilling and sampling to further delineate the resource base.
• Production of brine samples for rigorous technology testing concerning lithium extraction.
• Creation of comprehensive models to support financial and geological analyses.

The investments positioned by Grounded Lithium are primarily focused on geological advancements and engineering processes that promise to enhance the profitability of the KLP project. A smaller portion of the budget will address regulatory requirements and compliance measures.

Strategic Partnership with Denison Mines

Denison Mines not only serves as a financial backer for this initiative but also plays an integral role in the overall development of the KLP. As part of their agreement, Denison could earn a working interest in the project through its investment. The collaborative efforts of both companies are set to lay the groundwork for a successful lithium extraction venture.

Future Steps in the Partnership

Grounded Lithium and Denison Mines have initiated a request for proposals (RFP) to leading engineering firms for the creation of an independent pre-feasibility study. This study is critical as it evaluates the economic and technical viability of the resource. Recommendations from leading candidates may include extensive pilot testing to assess different extraction technologies for lithium.

Company's Vision and Commitment

According to Gregg Smith, President & CEO of Grounded Lithium, the progress made demonstrates a solid step forward in understanding the resource and its economic potential. The management team aims to leverage the advantages of the shallow resource and the clean brine quality available at the KLP. By maintaining high standards of environmental responsibility and operational efficiency, the company strives to create value for all its stakeholders while contributing to the transformative energy shift that is underway globally.

About Grounded Lithium Corp.

GLC is a publicly listed lithium brine exploration and development enterprise with substantial mineral resources. The company controls approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent mineral resources and around 3.2 million metric tonnes classified as Inferred resources. GLC’s business approach encompasses resource consolidation, delineation, and sustainable lithium production aimed at supporting renewable energy initiatives.

Frequently Asked Questions

What is the total amount of the budget announced by Grounded Lithium?

The approved budget totals CAD$4.5 million for the Kindersley Lithium Project, focusing on technical advancements and resource studies.

Who is funding the Kindersley Lithium Project?

The funding is primarily provided by Denison Mines Corp., a key partner for Grounded Lithium in this initiative.

What are the key activities included in the budget?

The budget supports the preparation of a pre-feasibility study, further resource delineation through drilling, and initial brine production tests.

What is the long-term vision of Grounded Lithium?

Grounded Lithium aims to build a best-in-class lithium production company, with a focus on environmentally responsible practices and supporting the global energy transition.

What opportunities are present for investors in Grounded Lithium?

Investors can look forward to the potential for growth as the company advances its project and refines its processes for lithium extraction, improving its position in the market.

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