Source: Indigo Exploration
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  • Indigo Exploration (IXI) has doubled its land position in central Alberta
  • The land covers significant subsurface Devonian reef reservoir aquifers with the potential to produce large volumes of lithium-bearing formation brine
  • The company’s permits recently granted by the Alberta Department of Energy now total 147,904 hectares in three key areas of higher lithium brines
  • Indigo Exploration Inc is a junior natural resource company engaged in the acquisition, exploration, and development of natural resource properties
  • Indigo Exploration Inc. was up 33.333 per cent, trading at $0.06 at 12:38 PM ET

Indigo Exploration (IXI) has doubled its land position in central Alberta.

The land covers significant subsurface Devonian reef reservoir aquifers with the potential to produce large volumes of lithium-bearing formation brine.

The company’s permits recently granted by the Alberta Department of Energy now total 147,904 hectares (147.9 km2 or 365,479 acres) in three key areas of higher lithium brines.

They are adjacent to permits held by E3 Lithium Ltd., LithiumBank Resources Corp., and Highwood Asset Management.

The acquired permits are in proximity to wells recording lithium brine levels between 72 and 130mg/l from the Leduc Carbonate Reef complex Woodbend Group and the underlying Beaverhill Lake Group rock.

The aquifers in these units historically have been known to host the highest grades of lithium-in-brine in Alberta.

The recent Indigo permits increase its land positions in the Fox Creek and Leduc-Legal areas. There are over 700 wells that have been drilling on the Indigo permit areas.

These 700 wells of various statuses, from producing to abandoned, penetrate the Mississippian or Devonian Formations across the Indigo permits. This well dataset is being evaluated to select the most suitable wells to conduct a comprehensive sampling program planned to start in the first quarter of 2023.

The global wave of demand for lithium is accelerating with the need for energy storage solutions, particularly for the electric vehicle industry.

This growing demand provides an opportunity for Alberta with its mature oil fields, which also hold large deposits of lithium in subsurface brine.

Indigo Exploration Inc is a junior natural resource company engaged in the acquisition, exploration, and development of natural resource properties.

Indigo Exploration Inc. was up 33.333 per cent, trading at $0.06 at 12:38 PM ET.



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