This innovative technology will bring many millions of tons of lithium soon to market, potentially solving the world’s looming supply crunch…
And one small microcap, Indigo Exploration’s (TSX.V: IXI)(OTC: IXIXF)(TSX.V: IXI)(OTC: IXIXF) properties are well positioned, and their work is well timed, to tap into Canada’s vast lithium brine reservoirs.
The Opportunity at a Glance
- There are vast untapped lithium brine reservoirs in the sedimentary and carbonate rocks in Alberta, Canada — and those reservoirs are full of lithium. The reservoirs were originally filled by oil and gas which have been extracted and now refilled and replaced by lithium brines. They have been significantly tested for lithium with readings of lithium at 50-140 ppm.
- Until recently, this lithium was inaccessible. At the relatively low concentrations found, there was no extraction technique that made economic sense.
- That has changed in the past few years, as techniques for quickly, cleanly, and cheaply extracting lithium from brine have been developed. These new techniques are unlocking Canada’s vast brine lithium and have inspired one company in the area to call Alberta “The Saudi Arabia of Lithium.”
- Lithium companies in Alberta besides tapping into a vast source of lithium have a huge advantage over traditional hard rock lithium and lithium brine evaporation operations – QUICK TO MARKET – which is key to success over competitors. Small physical footprint, modular low CAPEX plants and quick permitting utilizing preexisting petroleum infrastructure and knowledge.
- This extraction process is very low impact — with a small footprint, brought to surface through existing and new drill wells, processed at surface at small treatment plants and returning the brine to subsurface once the lithium has been extracted. This method of extraction has the potential to be completely carbon neutral to negative, if carbon is sequestered with the used brine.
- Because capturing lithium from the vast briny reservoirs under Alberta now appear to make economic and environmental sense, smart mining companies have moved in. A leader in this space, E3 Lithium has a development-stage 16.9 million tons of lithium over the same reservoirs that Indigo Exploration’s claims sit atop. E3 is moving very quickly to production by 2026 — and boasts a market cap of $175 million.1
- By comparison, Lithium America with a market cap of US$3.2B has a reserve of 3.7 million tons of lithium. The Capital cost to develop their Thacker Pass project is US$2.2B and has had a lengthy permitting timeline.
- Another nearby project, from LithiumBank and in the same Leduc formation as Indigo, has recently established an Inferred resource 6.8 million tons of lithium within the same region that Indigo Exploration has some of its claims. LithiumBank has a market cap over $53 million and expects to deliver a prefeasibility this spring
- Indigo Exploration (TSX.V: IXI)(OTC: IXIXF)(TSX.V: IXI)(OTC: IXIXF) with a nearly 150km2 land position is at the perfect point of the Lassonde Curve for value-seeking investors, sample wells for lithium grade and flow are just beginning in earnest now. It is appreciably undervalued — with its greatest gains likely coming this year. They currently have a market cap of $5 million and are projecting to have a resource established by this fall and a PEA as early as Q1 2024.
It is a truism — necessity is the mother of invention.
And it’s clear the world needs more lithium.
EV markets are growing faster than manufacturers can keep up — with many EV models boasting months-long waiting lists. Lithium is one of the chokepoints in the EV supply chain.
Even with lithium supply growing a projected 38% this year, by 2025 demand is expected to outstrip supply.2
With batteries making their way into more and more goods, demand looks to be on a near-parabolic path for the foreseeable future.3"By 2032, lithium demand will be about six times what it is today." 4
This increasing demand — recently outpacing production growth — is part of the reason that the price of lithium has soared in the past year, hitting a high of $85,000/mt in November.5
In fact, according to Benchmark Minerals, we need nearly 400 new mines to come online by 2035 to keep up with demand.6
There’s a serious problem with this. There are nowhere near 400 new mining projects on the drawing board.
Worse, most traditional lithium mining projects — from hard rock, or using traditional brine evaporation methods — take years to permit and set up. According to The International Energy Agency (IEA) lithium mines typically take an average of 16.5 years to develop.
This is why we can so clearly see the shortage coming in 2025 — if the new mines aren’t started now, they won’t be ready in time. At least, that’s true for traditional methods.
Further complicating things, China controls nearly three quarters of the lithium market as of 2020.7
With much of the rest of the lithium market in South America and Africa, even present-day supply is at significant geo-political risk.
That’s why the US has earmarked $135 billion to incentivize EV battery production in the domestic market, as well as with close allies like Australia and Canada.
Until recently, Australia was the main source of safe lithium for the West.
But that’s all changing, thanks to advancements in Direct Lithium Extraction technology, which can pull lithium out of brine in hours, instead of months or years.
This technology is…
- Clean. Energy use is negligible, as it can use many wells and pipelines that are already in place and could be utilized, thanks to the area’s oil and gas industry.
- Fast. Permitting now looks very similar to the process used for oil and gas — meaning it only takes an average six months (as opposed to years for solid rock lithium mining or traditional brine evaporation operations). Once set up, lithium is extracted from brine in hours — as opposed to months for brine evaporation.
- Cheap. Because these wells are so cheap to run, they can now extract lithium at very affordable prices, as long as concentrations are high enough. Samples from key formations on Indigo Exploration’s properties to date are in the attractive range, similar to E3 and LithiumBank projects.
- Environmentally friendly. The footprint of an operation is limited to well sites and modular brine treatment plants. Once the brine is brought up from the well, after spending a few hours being processed for lithium extraction, it is returned to the subsurface. If carbon capture infrastructure is included and a source of carbon is piped to the project and injected with the brine, it can be used to sequester carbon — making the entire operation carbon neutral. While the company has not indicated any plans to sequester carbon in their working model, it is interesting to note this technology has that potential.
- Scalable. Traditional lithium mining requires large amounts of capital up front to build out the infrastructure, in the order of hundreds of millions to billions of dollars. DLE tech is modular, and can expand well-by-well, without needing a large initial outlay. And because this modular set up can be erected quickly and affordably, DLE projects don’t have to deal with the construction delays that come with large infrastructure projects.
How Direct Lithium Extraction Works
The Direct Lithium Extraction (DLE) process is as ingenious as it is simple.
At its heart, it heats brine, uses an extraction compound to grab lithium from the concentrated brine, while steam from the process is recycled to heat more incoming brine. Once the lithium is extracted, the brine goes back underground where it came from.
It’s hard to overstate how efficient this process is compared with all other methods.
Getting lithium out of solid rock is an intensive process, whether it’s open pit mining or underground.
Brine extraction via evaporation from the large salt lakes of South America requires large pools to store the briny water for years, and wastes the water, while leaving behind an undesirable condensate. There are environmental and social concerns slowing permits and the scaling up of these projects in these regions.
DLE doesn’t have any of those drawbacks. It takes only hours for the process to complete. The brine is returned underground, alleviating environmental concerns.
All that DLE needs is a simple well over a lithium-rich aquifer — and that’s why this process will first be used in Alberta.
Alberta has…
- 930,000 MT of potential resource — which doesn’t include the majority of the brine lithium which has only recently been unlocked, and is actively being sampled and documented today.8
- Vast known lithium-rich underground reservoirs, with numerous samples coming back at 50 ppm, and as high as 140 ppm concentrations.
- Wells already in place, thanks to the oil and gas industry, with 90% of the oil industry’s extractions in Alberta coming from brine, as it stands today, which allows for sampling and resource estimation.
- Infrastructure already in place, thanks to the oil and gas industry. Getting this lithium to market may very well be FASTER than traditional lithium projects in other jurisdictions.
- A friendly political environment. Alberta just created a special permitting process for lithium — designed to streamline the industry, increasing vetting while making it easier for appropriate projects to move forward. Permitting in Alberta can take as little as six months. Remember — in Australia, it’s closer to five years. In South America it’s worse.
- Access to the money made available in the US’s Inflation Reduction Act. The $135 billion the US earmarked to bolster domestic EV production isn’t just for the US. It also applies to close economic allies, like Canada. Some of that huge war chest is going to make it to Canada — and the projects in Alberta make tremendous sense, as they have the greatest potential to alter the lithium landscape.
The truth of the matter is, almost any investment into lithium firms in this area should do well. Heading into a supply crunch — with demand skyrocketing — the lithium market is at the start of a major bull run.
The companies operating in the Alberta fields today also were prescient.
They saw the world’s need for more lithium… and also saw the work being done on the DLE extraction process, and staked claims early.
Companies like E3, LithiumBank, and Indigo Exploration grabbed these claims before the market saw what was coming.
Indigo has nearly 150km2 of lithium permits in Alberta. Today, similar claims go for around half a million dollars an acre; these companies bought in at much lower valuations.9
However, there’s a reason why Indigo Exploration (TSX.V: IXI)(OTC: IXIXF)(TSX.V: IXI)(OTC: IXIXF) could wind up being one of the biggest lithium storees of the year.
And it’s because of a pattern so common in the commodities industry, it is as close to an economic law as you can get.
That’s the Lassonde Curve.
The Perfect Time to Invest in a Junior Explorer
The Lassonde Curve is a stock price pattern that applies to just about every successful commodity explorer in the markets.
It looks like this:
Basically, an explorer’s stock price doesn’t move much… until exploration starts, and the business can show successful developments of attractive resources on its claims. These precipitate the fastest, largest rise in stock price.
This also happens to be exactly where Indigo Exploration is in its life cycle, with exploration commencing this year, and the first announced results expected this summer and targeting a resource by the fall. That’s incredibly fast, following the successful paths of E3 and LithiumBank. Indigo is hoping that in the next 12 months its projects can catch up to where LithiumBank’s projects are now.
After the exploration phase, the stock usually goes through a lull, as it takes years to go into actual production.
This phase may be short-circuited by Indigo Exploration and other Alberta brine lithium explorers, as DLE production can begin in as few as six months, instead of many years.
Regardless, the best time to invest in a stock is right before exploration results are announced.
Only Indigo Exploration has a trick up its sleeve. While the company’s official exploration results have yet to be released…
Thanks to previous government data and sampling from wells on Indigo’s claims, we already know what Indigo is likely to find.
The Riches Under Indigo’s Feet
Lithium in economic concentrations tends to be found in pegmatites or associated granitic or volcanics or in evaporative rocks.
Oilfield brines, although not fully understood yet, are believed to be sourced from basement granitic rocks that interact with deep subsurface fluids that travel up through faults.
The Devonian sedimentary cover in Alberta is mostly limestone and dolomitized limestone. It is postulated that when the basement fluids interact with magnesium in the earth it allows the brines to supersaturate in elemental lithium, as lithium is a small molecule, the brines then accumulate in the pores and vugs of the limestone reservoirs.
But the best thing about getting one of the early claims in this area? Indigo Exploration can tap into the known sample data and quickly carry out additional brine sampling from active wells on its claims thanks to eighty years of oil and gas exploration and production in the region. There has been extensive drilling on the permits and 150 wells, in various status, that could still be available to sample lithium brines.
INDIGO EXPLORATION’S PROPERTIES
Fox Creek
The Fox Creek claim is Indigo’s largest, at over 114,000 hectares.
It also has some of the highest concentrations of lithium, with samples testing as high as 118 ppm. (For comparison, E3’s resource grades average 74.5 ppm.) The area has high potential, also being actively explored by LithiumBank. The project is adjacent to LithiumBank’s Sturgeon Lake Leduc formation, which currently has an inferred mineral resource of 5.9 million tonnes lithium carbonate equivalent at a grade of 68 ppm.
Leduc
The area in where Indigo Exploration’s Leduc Project is located already has had extensive oil and gas activity, with samples on and around Indigo’s permits have recorded 36-56 ppm lithium.
These areas are targeting the same Devonian-aged carbonate reservoirs that are the focus of E3 Lithium’s pilot program. E3 recently announced a finding of 16 million MT of lithium in the Bashaw District.10
Peace River Arch
The Peace River Arch project is Indigo’s smallest, at a smidge over 10,000 hectares. But the region is where the highest samples the Alberta Geologic Survey suggests the highest overall average grades exist.
It’s not often you have access to that kind of potential from a $5 million microcap company where its regional peers have a 10-35X marketcap.
But that’s exactly the position investors find themselves in with Indigo Exploration today.
If you want a potential moonshot in the lithium space, it’s hard to find a better investment than Indigo Exploration (TSX.V: IXI)(OTC: IXIXF)(TSX.V: IXI)(OTC: IXIXF).
Talk about Indigo Exploration with your financial advisor today, and see if an investment makes sense for you.
Learn More About Indigo Exploration (TSX.V: IXI)(OTC: IXIXF)(TSX.V: IXI)(OTC: IXIXF) at your brokerage today!
1.https://finance.yahoo.com/news/e3-lithium-increases-land-position-080500870.html
2.https://www.cnbc.com/2023/03/07/bank-of-america-sees-lithium-surplus-in-2023-as-demand-eases.html
3.https://about.newenergyfinance.com/blog/will-the-real-lithium-demand-please-stand-up-challenging-the-1mt-by-2025-orthodoxy/
4.https://techinformed.com/almost-400-new-mines-needed-to-meet-future-ev-battery-demand-data-finds/
5.https://www.dailymetalprice.com/metalpricecharts.php?c=li&u=kg&d=240
6.https://techinformed.com/almost-400-new-mines-needed-to-meet-future-ev-battery-demand-data-finds/
7.https://www.onecharge.biz/blog/how-china-came-to-dominate-the-market-for-lithium-batteries-and-why-the-u-s-cannot-copy-their-model/
8.https://investingnews.com/daily/resource-investing/battery-metals-investing/lithium-investing/lithium-reserves-country/
9.https://www.businesswire.com/news/home/20210504005301/en/Prairie-Lithium-Completes-Major-Land-Acquisition-in-Saskatchewan-Canada
10.https://www.newswire.ca/news-releases/e3-lithium-announces-16-0-million-tonnes-measured-and-indicated-resource-upgrade-849516252.html
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This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect expectations regarding Indigo Exploration future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Indigo Exploration industry; (b) market opportunity; (c) Indigo Exploration business plans and strategies; (d) services that Indigo Exploration intends to offer; (e) Indigo Exploration milestone projections and targets; (f) Indigo Exploration expectations regarding receipt of approval for regulatory applications; (g) Indigo Exploration intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Indigo Exploration expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Indigo Exploration business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Indigo Exploration ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Indigo Exploration ability to enter into contractual arrangements; (e) the accuracy of budgeted costs and expenditures; (f) Indigo Exploration ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Indigo Exploration to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Indigo Exploration operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact Indigo Exploration business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Indigo Exploration business operations (e) Indigo Exploration may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, the Website Host undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise.
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