Grounded Lithium Corp. announced that the company continues to work with its partner, Denison Mines Ltd. as it progresses to develop and finalize a pre-feasibility study anticipated to be completed towards the end of 2025 or early 2026. The PFS will provide clear conclusions on the economics, viability and development path for the Company's lithium from brine project, the Kindersley Lithium Project ("KLP").
The detailed depletion study of the Duperow/Leduc reservoir and subsequent analysis of different well designs and configurations provide the current plan to drill wells with 2 parallel horizontal legs into the 2 best reservoir zones which maximizes brine drainage at minimal costs. Extensive samples of brine collected from the re-entry of the KLP 4-15 well in late 2024 were shipped to several unique direct lithium extraction firms. Results from those assessments provide Stantec Inc, the PFS lead auditor, the opportunity to analyze which technology optimally extracts the lithium and maximize KLP's economics. Final decisions on design will ensue post conclusions from the PFS.
Based on detailed work completed thus far, both sorption and ion-exchange lithium extraction methodologies have promise for the final design. In the continuing effort to reduce corporate expenditures, key personnel have decided to receive compensation in the form of equity incentives rather than solely cash compensation primarily received as contractors to the KLP. As such, the Company granted 2,110,900 stock options at an exercise price of $0.065 per share in accordance with the Company's Equity Incentive Plan approved by shareholders at the Company's Annual General Meeting held June 18, 2025.
The grant remains subject to final TSXV approval.
