LithiumBank Updates NI 43-101 Lithium Brine Resource Estimate at Park Place, West-Central Alberta
Original announcement by tmx on
- Company
- LithiumBank Resources Corp.
- Ticker
- LBNK
- Exchange
- TSX
- Region
- Alberta
- Primary commodity
- Lithium
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-08-25 19:01:17 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
LithiumBank has updated its NI 43-101 lithium brine resource estimate for the Park Place project in Alberta. The update reflects a reduction in total lithium carbonate equivalent (LCE) tonnage from 21.68 Mt to 15.08 Mt, driven by the strategic expiration of non-core mineral licenses to reduce annual fees.
Reasoning: The resource estimate shows a significant tonnage decline (approx 28%) due to strategic reduction in license holdings, though grades remain high and the project remains a large-scale inferred resource.
Positive factors
- high grade
- QP/CP Signed
Negative factors
- Tonnage Decline
- Inferred Resource
Facts used in scoring: 3
Classification and evidence
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The entire resource is classified as inferred.
Evidence · text
“15,082,000 tonnes of inferred LCE”
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: Total LCE tonnage decreased from 21.68 Mt to 15.08 Mt due to license reductions.
Evidence · text
“originally reported 21,681,000 tonnes of inferred LCE... The updated... totals 15,082,000 tonnes”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Alex Haluszka P. Geo. is named as the Qualified Person who reviewed and approved the estimate.
Evidence · text
“reviewed and approved by Alex Haluszka P. Geo. of Montrose Environmental Solutions Canada Inc.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The resource estimation was completed using a cut-off of 50 mg/L Li.
Evidence · text
“resource estimation was completed and reported using a cut-off of 50 mg/L Li”
Extracted facts
Stored fact records: 3. Some facts used in scoring do not have a stored record.
Resource Estimates (3)
inferredlithiumTonnes: 8659000Grade: 79.4Grade Unit: mg/LContained Metal: 8659000Contained Unit: tonnes LCEView all detailsHide details
Identity
- Commodity
- lithium
- Ticker
- LBNK
Resource Data
- Category
- inferred
- Tonnes
- 8659000
- Grade
- 79.4
- Grade Unit
- mg/L
- Contained Metal
- 8659000
- Contained Unit
- tonnes LCE
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-05-30T00:00:00.000Z
Reasoning: Part of the updated Leduc Fm domain within the reduced footprint.
Negative factors
- Inferred Resource
Evidence · text
“8,659,000 tonnes inferred LCE within the Leduc Fm aquifer at an average of 79.4 mg/L lithium”
inferredlithiumTonnes: 6423000Grade: 80.9Grade Unit: mg/LContained Metal: 6423000Contained Unit: tonnes LCEView all detailsHide details
Identity
- Commodity
- lithium
- Ticker
- LBNK
Resource Data
- Category
- inferred
- Tonnes
- 6423000
- Grade
- 80.9
- Grade Unit
- mg/L
- Contained Metal
- 6423000
- Contained Unit
- tonnes LCE
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-05-30T00:00:00.000Z
Reasoning: Part of the updated Swan Hills Fm domain within the reduced footprint.
Negative factors
- Inferred Resource
Evidence · text
“6,423,000 tonnes inferred LCE within the Swan Hills Fm aquifer... at an average of 80.9 mg/L lithium”
inferredlithiumTonnes: 15082000Grade: 80Grade Unit: mg/LContained Metal: 15082000Contained Unit: tonnes LCEHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- lithium
- Ticker
- LBNK
Resource Data
- Category
- inferred
- Tonnes
- 15082000
- Grade
- 80
- Grade Unit
- mg/L
- Contained Metal
- 15082000
- Contained Unit
- tonnes LCE
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-06-24T00:00:00.000Z
Dates
- Event date
- 2025-05-30T00:00:00.000Z
Reasoning: The total updated resource is lower than the original estimate due to license reductions.
Negative factors
- Inferred Resource
- Tonnage Decline
Evidence · text
“totals 15,082,000 tonnes of inferred LCE at a grade of 80.0 mg/L lithium”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.