08:21 AM EDT, 05/23/2024 (MT Newswires) -- E3 Lithium ( EEMMF ) on Thursday released a mineral resource estimate for its Estevan Lithium District in Saskatchewan, showing it contains an inferred resource of 2.54 million tonnes of lithium carbonate equivalent.

The company, which is developing methods to remove lithium from underground brines, said the 67,000-hectare district covers 5.09-billion cubic meters of lithium-bearing brines containing up to 259 milligrams of lithium per liter.

"The resource over our Saskatchewan Property represents an exciting development prospect for E3 Lithium ( EEMMF ) and reinforces the company's position for lithium development in Western Canada, adding to our globally significant lithium resources," Chief Executive Chris Doornbos said in a release.

The company did not detail any development plans for the resource.

E3 shares closed unchanged at $1.75 Wednesday on the TSX Venture Exchange.