VANCOUVER, British Columbia, Aug. 28, 2018 (GLOBE NEWSWIRE) -- 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.
