Galvanic’s lithium prospect among most prolific in North America
Independent evaluation estimates 4 million tons LCE, testing shows up to 520 mg/L lithium
OKLAHOMA CITY, July 12, 2022 – A recently completed resource report has validated Galvanic Energy’s Smackover prospect as one of the largest lithium brine resources in North America, with sufficient lithium to produce enough batteries for 50 million electric vehicles.
Oklahoma-based Galvanic Energy is a geoscience-driven resource exploration company that employs innovative, proprietary discovery methods to identify natural resources essential to the US renewable energy sector. Over the past year the company has completed well testing and detailed reservoir modeling to significantly advance its 120,000-acre lithium prospect in southern Arkansas.
Certified third-party analyses of brine drawn from deep test wells penetrating the Smackover Formation within Galvanic Energy’s prospect yielded lithium concentrations ranging from 290 mg/L to 520 mg/L, some of the highest reported values in North American brines. Testing also revealed bromine concentrations of 3,700-6,000 mg/L.
An independent evaluation and technical report authored by APEX Geoscience Ltd. estimates the Galvanic Energy Smackover prospect to have an inferred resource estimate of 4 million tons lithium carbonate equivalent (LCE) and 10 million tons elemental bromine.
The lithium resource estimate is substantial given that the USGS currently estimates the US lithium reserve at 750,000 tons and a total inferred resource of 9.1 million tons, including “oilfield brines” such as the Smackover.
“The significance of 4 million tons domestic LCE is evident,” said Brent Wilson, Galvanic Energy president and chief executive officer. “This is enough lithium to power 50 million electric vehicles, or in other words, enough EVs to replace 1 in 6 registered automobiles in the United States.”
Strategically located in the south-central U.S. near newly built or planned EV and battery manufacturing plants, Galvanic Energy’s lithium prospect could greatly reduce America’s reliance on foreign supply chains. Additionally, the prospect can be developed using a low-environmental footprint ion extraction process.
“Given the regulatory and environmental challenges facing conventional mining operations, ESG responsibility is critical to moving American raw material resource production forward,” Wilson said.
To that end, Galvanic Energy has been evaluating multiple direct lithium extraction (DLE) technology providers to determine which of those processes is best suitable for developing this world-class lithium asset. Galvanic’s Smackover prospect will support a domestic supply chain for lithium batteries required in electric vehicles, portable electronics and power storage systems.
About Galvanic Energy
Galvanic Energy is a privately held exploration company targeting domestic resources to
advance America’s renewable energy strategy. Galvanic Energy focuses on resource plays that require low environmental footprints and utilize innovative extraction processes to provide vertical integration of green technologies toward the development of electric mobilization and energy storage. For more information, visit galvanicenergy.com.