OUR TECHNOLOGY
PRISM is Committed to Research & Development and Sustainable Innovation
Carbonylation of Iron and Vanadium into pure Metal Powders
Research and development will enable PRISM to generate new market opportunities over time, to the benefit of its stakeholders, the province and Canada as a whole.
PRISM supports Alberta’s vision of building new innovation capacity in the province by conducting and supporting best-in-class research & development for new processes and products.
As markets rapidly evolves into a net-zero carbon and energy transition, PRISM will continue to expand its research & development capacity in partnership with institutions, colleges, universities and government, to make sustainable products for the new energy economy.
Innovation is an important component in PRISM's growth strategy and is our competitive advantage.
PRISM has identified a low-risk and proven iron carbonylation process, developed by an established Canadian company, as a cost-effective and turn-key technology capable of directly refining its Clear Hills iron-vanadium resource into high-purity, high-value metallurgical powders with broad commercial application. A secondary carbo-chlorination process will extract the vanadium (and possibly cobalt) for sale in electric-metal applications, including electric vehicle batteries and renewable energy storage systems.
An intermediate stage of pilot testing is planned to further optimize the efficacy of the process and technologies to produce high-value metal powder products.
Microscopically enlarged carbonyl iron powder
Reductive Chlorination Process to liberate Iron, Vanadium and Cobalt
Over the past two decades, cheaper prices and abundant supply has led to a shift away from rock based ore minerals to brines as the major source of lithium. Currently, production from brine deposits supplies 60-80% of the world’s lithium market. Production of lithium from brines requires less energy and is more environmentally- friendly than lithium production from hardrock. It is likely that lithium demand will continue to expand with the increasing use of Li-ion batteries and especially with the advent of Li-ion battery powered electric vehicles, leading to a rush to find new sources of brine-derived lithium for the global market.
With the potential to produce significant volumes of lithium-bearing formation brine from the underlying Devonian reservoirs across the company's 1.88 million of acres of mineral permits, PRISM is executing a multi-phase development work plan to advance its lithium development through a feasibility study and final investment decision.
The first phase of development work will involve geological, geophysical and reservoir engineering evaluations to ultimately determine an inferred (or possibly indicated) NI 43-101 compliant resource estimate for lithium and associated performance elements on PRISM's extensive metallic and industrial mineral permits. Multi-element geochemical laboratory analysis of collected formation water samples will determine the average grades of the main economic elements in the brine. After applying the grades to calculated reservoir volumes, an inferred resource estimate will then be determined.
A preliminary economic assessment and pre-feasibility level test work will also be conducted in the first development phase by PRISM's selected strategic technology partner with a focus on adapting and optimizing their commercial processing platform for the extraction and concentration of the lithium and other elements of interest from formation brines.
After confirming the efficacy of the lithium brine extractive and concentration process, further development work will involve conducting a demonstration pilot test program in the Clear Hills in conjunction with the company’s key technology partners. A successful pilot test program will contribute additional important technical data, and in conjunction with an estimate of collective production rates obtained through reservoir analysis, a detailed technical resource report, feasibility study and production plan will be prepared.
Refining of Formation-brine extracted Lithium into Battery-grade Lithium Carbonate
Lithium carbonate
In conjunction with the electro-extraction development work, PRISM will collaborate with a company with expertise in commercial lithium refining to refine its pre-concentrated lithium sample into high-purity battery-grade lithium carbonate.
After successful pilot testing, a preliminary economic assessment and a pre-feasibility study will be commissioned leading to a decision to conduct a feasibility study leading to a final investment decision.
In conjunction with TCM-Research PRISM is undertaking proof of concept work on a patented and innovative reductive chlorination process. Samples will be tested during Jan 2024.