MGX Minerals Inc (CSE:XMG) (OTCMKTS:MGXMF) and Eureka Resources LLC (CVE:EUK) announced Tuesday the shipment of the world's first commercial rapid lithium recovery system, which will be used on wastewater in Pennsylvania.
The newly formed joint venture between both companies will initially focus on fast-tracking deployment of the lithium recovery system at Eureka's state-of-the-art Standing Stone advanced wastewater-treatment facility near Towanda, Pennsylvania, according to a statement.
The containerized system left engineering partner PurLucid Treatment Solutions’ Alberta facility last week and is expected to arrive at Standing Stone anytime, the companies said.
The joint venture said it is now working to commission the system, which is expected to begin commercial extraction in the fourth quarter.
Eureka's Standing Stone facility, which originally opened in 2013, provides regional energy producers with advanced wastewater-treatment services for raw oil and gas brines.
Post-concentration lithium values in the range of 1,000ppm have been reported by Eureka and verified by MGX from produced water from within the Marcellus Shale.
In addition to the initial installation at Standing Stone, both companies have also outlined a growth strategy that focuses on growing lithium output and deploying additional rapid recovery systems throughout the Marcellus and Utica shale formations.
Scaling up lithium output
This includes scaling up lithium output at Standing Stone, deploying additional systems to other Eureka facilities, and identifying new installation sites at third-party treatment facilities.
According to the statement, Eureka shall retain exclusive rights to develop all joint venture relationships with third-party facilities within the Marcellus and Utica shale formations for an initial period of five years. Both parties will have mutual discretion to further extend the joint venture for up to four additional years thereafter.
MGX, based in Vancouver, is a diversified resource and technology company with interests in global advanced material, energy and water assets.
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