Lithium is a light metal used in medical, electrical, chemical, environmental, and engineering applications. Lithium concentrations occur in residual late-stage granitic pegmatites, clay hectorite deposits and lacustrine evaporites, and in continental, geothermal and oil-field brines. Main sources for commercial lithium production in the world are brines and pegmatites.

Government studies have shown lithium potential for Cambrian to Triassic formation waters in Alberta. Particularly, lithium-rich brines occur in Devonian formations in the Fox Creek, Leduc, and Swan Hills areas in west-central Alberta.

The Fox Creek project contains an inferred 4.1 billion cubic metres of brine containing an total in-place inferred resource of 362 000 tonnes of lithium carbonate, whereas the Valleyview property contains an inferred 5.7 billion cubic metres of brine with a total in-place inferred resource of 384 750 tonnes of lithium carbonate.

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