Standard Lithium Reports up to 461 mg/L Lithium From Brines at Southwest Arkansas Project
August 28 2018 - 3:01AM
Standard Lithium Reports up to 461 mg/L Lithium From Brines at
Southwest Arkansas Project
Standard Lithium Ltd. (“Standard Lithium” or the
“Company”) (TSXV:SLL) (OTCQX:STLHF) (FRA:S5L), is pleased to report
laboratory results of high-quality lithium brines recovered from
the Smackover Formation from the Company’s project area in
southwestern Arkansas. Four brine samples recovered from two
existing wells in the project area showed lithium concentrations
ranging between 347–461 mg/L lithium, with an average of 450 mg/L
lithium in one of the wells, and 350 mg/L in the other.
Dr. Andy Robinson, President and COO of Standard
Lithium commented, “the latest brine data from the Smackover
Formation are an excellent demonstration of the quality of lithium
brine available to the Company at their projects in southwest
Arkansas. We are now at the point where we’ve completed all
geological modelling of our Project area in Lafayette and Columbia
Counties, and with these recent geochemical data, we are putting
the finishing touches to our maiden resource report and hope to be
able to release the report describing this important resource in
the near future.”
The brines were sampled from preexisting oil and
gas wells that had been previously drilled into the Smackover
Formation, and were completed at depths of approximately 9,300 ft
(2,830 m) below ground level. Some historical infrastructure
(production tubing, packers etc.) was removed from the two holes,
and new production tubing was installed in the wells to allow for
sampling. Other than this minimal work, the wells were found
to be in good condition, were perforated in the correct zone for
brine production (the ‘Reynolds’ Unit within the Smackover
Formation), and produced large volumes of brine from the formation
using a readily-available workover rig. All work was
completed by, and in partnership with, the oil and gas operator
responsible for the wells. Brine samples were sent to WETLAB
Testing Laboratory in Sparks Nevada for full brine analysis.
Robert Mintak, CEO of Standard Lithium stated
“The recent sampling results confirm our development strategy of
acquiring assets with substantial data and existing infrastructure,
as we were able to complete this work program at minimal cost to
the Company and shareholders. With our key agreements and
partnerships in place, a maiden resource report and a demonstration
plant on the horizon, we believe the Company’s southern Arkansas
projects are set to play a leading role in the next wave of lithium
producers.”
Quality Assurance
Raymond Spanjers, Registered Professional
Geologist (SME No. 3041730), is a qualified person as defined by NI
43-101, and has supervised the preparation of the scientific and
technical information that forms the basis for this news
release. Mr. Spanjers is not independent of the Company as he
is an officer in his role as Vice President, Exploration and
Development.
About Standard Lithium Ltd.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 utilizing the Company’s proprietary
selective extraction technology. The Company is also pursuing
the resource development of over 30,000 acres of separate brine
leases located in southwestern Arkansas and approximately 45,000
acres of mineral leases located in the Mojave Desert in San
Bernardino County, California.
Standard Lithium is listed on the TSX Venture
under the trading symbol “SLL”; quoted on the OTCQX under the
symbol “STLHF”; and on the Frankfurt Stock Exchange under the
symbol “S5L”. Please visit the Company’s website at
www.standardlithium.com.
For further information, contact Anthony Alvaro
at (604) 240 4793
On behalf of the Board,
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.
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