Standard Lithium Advances Project Pipeline as It Commences Preliminary Feasibility Study at Its South West Arkansas Lithium Project
May 02 2022 - 6:00AM
Standard Lithium Ltd. (“Standard Lithium” or the
“Company”) (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), an
innovative technology and lithium project development company,
today announced the commencement of a Preliminary Feasibility Study
(PFS) at its South West Arkansas Lithium Project (the “Project”),
which is located approximately 35 miles west of the Company’s
Lanxess project.
Standard Lithium recently completed a
Preliminary Economic Assessment at the Project (see Company news
release Nov 26, 2021), and on the basis of positive project
economics and favorable project fundamentals, the Company has
commissioned a team of technical experts to complete a NI43-101
compliant PFS for the Project. The PFS will consider an integrated
project including; brine supply and injection wells, pipelines and
brine treatment infrastructure, a Direct Lithium Extraction (“DLE”)
plant using the Company’s proprietary LiSTR technology, and a
lithium chloride to lithium hydroxide conversion plant.
Dr. Andy Robinson, President and COO of Standard
Lithium commented “following the key investment from Koch Strategic
Platforms in Q4 2021, we’ve been able to grow our team with
additional technical and management strength. Now we can manage and
drive multiple projects in parallel. The commencement of this
comprehensive PFS is a testament to the Company’s ambition to not
only bring the first new commercial lithium project into production
in the United States in six decades, but also to have a robust
pipeline of subsequent projects that will serve the future demand
for lithium chemicals in North America. We have assembled a broad
team of consultants, technical advisors and subject matter experts
to complete all the necessary work for this PFS, and we will also
be working hand in hand with our strategic and project partners to
ensure successful execution. We expect to complete the bulk of the
work through the balance of 2022, with completion and reporting of
the results of the PFS in Q1 2023.”
Standard Lithium has engaged Hunt, Guillot &
Associates from Ruston, Louisiana (“HGA”) as the lead consultant,
to prepare and coordinate the PFS with support of a
multi-disciplinary technical team. The work program to support the
PFS will consist of the following:
- Reentry of
existing wells across Standard Lithium’s brine lease area to obtain
new representative brine samples from the Smackover Formation;
- Reperforation of
existing wells, where feasible, to obtain discrete depth-specific
brine samples from previously unsampled zones of the
Smackover;
- Drilling of a
new well in a key location to complete data coverage across the
Company’s brine lease area;
- Long duration
pumping tests from selected wells to test hydrogeological and
reservoir conditions for brine extraction and reinjection;
- Collection of
large volume brine samples during pumping tests to allow the South
West Project brine to be processed through Standard Lithium’s
proprietary LiSTR DLE process;
- Acquisition and
reprocessing of additional 2D seismic data across and adjacent to
the Company’s brine leases;
- Generation of a
new 3D reservoir model to determine an updated in-situ lithium
resource, and extraction/reinjection production plans for the
commercial facility;
- Completion of
several Pilot Studies with technology partners to test the lithium
chloride to lithium hydroxide conversion process at sufficient
scale and duration. These studies will be completed using LiCl
produced by the Company’s operating LiSTR Demonstration Plant;
- Updated capital
costs (AACE Class 4 estimate +45/-25%) for a similar 30,000 tonnes
per annum lithium hydroxide facility as previously contemplated by
the PEA;
- Operating costs
updated and benefited by the data gathered during 2+ years of
continuous operation of the LiSTR Demonstration Plant in Union
County, Arkansas; and,
- Fully updated
project economics using revised future pricing for lithium
hydroxide produced and delivered in North America.
Quality
AssuranceSteve Ross, P.Geol., a Qualified Person as
defined by NI 43-101, has reviewed and approved the relevant
scientific and technical information that forms the basis for this
news release. Mr. Ross is a consultant to the Company.
About Standard Lithium
Ltd.Standard Lithium is an innovative technology and
lithium development company. The Company’s flagship project is
located in southern Arkansas, where it is engaged in the testing
and proving of the commercial viability of lithium extraction from
over 150,000 acres of permitted brine operations. The Company
operates its first-of-a-kind industrial-scale Direct Lithium
Extraction (DLE) demonstration plant at Lanxess’s south plant
facility in southern Arkansas. The demonstration plant utilizes the
Company’s proprietary LiSTR technology to selectively extract
lithium from Lanxess’s tail brine. The demonstration plant is being
used for proof-of-concept and commercial feasibility studies. 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. The Company is
also pursuing the resource development of over 30,000 acres of
separate brine leases located in southwest Arkansas, referred to as
the South West Arkansas Lithium Project, and approximately 45,000
acres of mineral leases located in the Mojave Desert in San
Bernardino County, California.
Standard Lithium is jointly listed on the TSX
Venture Exchange and the NYSE American under the trading symbol
“SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”.
Please visit the Company’s website
at https://www.standardlithium.com.
On behalf of the Board of Standard Lithium Ltd.Robert Mintak,
CEO & Director
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
certain “Forward-Looking Statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities laws. When used in this news
release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target, “plan”, “forecast”, “may”, “schedule” and other similar
words or expressions identify forward-looking statements or
information. These forward-looking statements or information may
relate to future prices of commodities, accuracy of mineral or
resource exploration activity, reserves or resources, regulatory or
government requirements or approvals, the reliability of third
party information, continued access to mineral properties or
infrastructure, fluctuations in the market for lithium and its
derivatives, changes in exploration costs and government regulation
in Canada and the United States, and other factors or information.
Such statements represent the Company’s current views with respect
to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the
Company, are inherently subject to significant business, economic,
competitive, political and social risks, contingencies and
uncertainties. Many factors, both known and unknown, could cause
results, performance or achievements to be materially different
from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affections such statements and information other than as
required by applicable laws, rules and regulations.
For further information contact:
LHA Investor Relations
David Barnard
+1 415-433-3777
standardlithium@lhai.com
info@standardlithium.com
Twitter: @standardlithium
LinkedIn: https://www.linkedin.com/company/standard-lithium/
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