Standard Lithium (TSX.V: SLI) (NYSE American: SLI) (FRA: S5L), a leading near-commercial lithium company, is reporting on part of the resource definition work at its South West Arkansas Project. According to the report and as far as the company can determine, SLI has sampled the highest confirmed lithium grade brine in Arkansas; the sampling data show a grade of 581 mg/L, which follows similar high-grade results from the company’s resources in Texas. The company reported that the lithium brine samples were taken from a pre-existing well, the Beulah-Taylor #1, which is located in the central-eastern portion of the project area. The well was initially drilled in 1982 and then decommissioned one month later; Standard Lithium started drilling on Feb. 21, 2023, deepening the hole to 8,940 feet by March 9, 2023. “We continue to be very pleasantly surprised by the lithium grades sampled from our projects in Arkansas and Texas,” said Standard Lithium president and COO Dr. Andy Robinson in the press release.
“We previously developed the preliminary economic assessment (‘PEA’) for the SWA Project using a conservative assessment of the lithium brine grades across the project area. Using that conservative resource basis still yielded a PEA with very attractive project economics (after-tax NPV US$1.97 billion and IRR of 32% at 8% discount rate; see news release dated 12th October 2021 ). This recent infill drilling work to further define the lithium resource has resulted in a marked upside to the in-situ lithium grade. In our experience, the grade of lithium in brine used for direct lithium extraction (‘DLE’) has a meaningful impact on both capital expenditures and operating costs in connection with the extraction process, so a higher grade typically results in lower overall costs and should have a positive effect on project economics in the forthcoming preliminary feasibility study (‘PFS’). We are delighted that sampling from this recent well has led us to find lithium brine with the highest confirmed grade in Arkansas, and we look forward to incorporating these into the forthcoming PFS.”
To view the full press release, visit https://ibn.fm/FptqT
About Standard Lithium Ltd.
Standard Lithium is a leading near-commercial lithium development company with a portfolio of projects in process. The company’s flagship projects, the LANXESS Property Project and the South West Arkansas Project, are located in southern Arkansas near the Louisiana state line. The company is focused on the evaluation and testing of commercial lithium extraction and purification from brine sourced from approximately 180,000 acres of unitized leases across these two projects. The company operates a first-of-a-kind, industrial-scale direct lithium extraction (“DLE”) Demonstration Plant at the LANXESS Project. The scalable, environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours and greatly increases the effective recovery of lithium. A definitive feasibility study (“DFS”) and front-end engineering study (“FEED”) for phase 1A of the LANXESS Property Project commenced in September 2022. A preliminary feasibility study (“PFS”) of the South West Arkansas Project commenced in May 2022. The company is also pursuing the resource development of other projects in the Smackover Formation in East Texas, as well as approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino County, California. For more information about the company, please visit www.StandardLithium.com.
NOTE TO INVESTORS: The latest news and updates relating to SLI are available in the company’s newsroom at https://ibn.fm/SLI
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