Smackover Lithium Achieves Record Lithium Brine Grades

Exciting Lithium Brine Discoveries by Smackover Lithium

Smackover Lithium, a collaboration between Standard Lithium Ltd. and Equinor, has made remarkable progress at its South West Arkansas Project. The organization recently finished sampling from its latest exploration well, the Lester well, and the results are groundbreaking. The well has recorded a lithium concentration of 616 mg/L in brine, which represents the highest concentration yet reported in the area.

Phase 1 Project Developments

The Lester well's completion marks the conclusion of all sub-surface exploration activities for Phase 1 of the SWA Project. Situated within the project area, the well provides a solid foundation for further development. Following the completion of this well, Smackover Lithium has successfully conducted a comprehensive sampling of brines from the upper Smackover Formation.

An independent, certified laboratory undertook the analysis of these brine samples, revealing lithium concentrations that significantly exceeded expectations. The company expressed its excitement over these results, marking a significant leap in advancing the project's future.

Lithium Brine Analyses and Results

Dr. Andy Robinson, President and COO of Standard Lithium, shared insights into the project's progress. He noted that the fieldwork completed at the Lester well provided promising results, with the maximum lithium concentration recorded being 616 mg/L. This is a substantial improvement over prior levels documented in the current lithium brine resource.

Anticipated Future Developments

The completion of all fieldwork signifies an essential milestone for the Smackover Lithium team as they work towards completing the FEED study. Following this, a Definitive Feasibility Study is set to be completed soon, beyond which the team aims to secure project finance through off-take negotiations. This effort is aimed at reaching a Final Investment Decision targeted by the end of 2025.

Remarkable Average Lithium Concentration

The analyses of lithium concentrations from the Lester well have provided significant insights into the quality of lithium brine in this area. The average concentration documented from three brine samples stands at 582 mg/L. These findings underscore the promising nature of future resource quality estimates, which are expected to employ porosity-weighted averages.

The Smackover Lithium Joint Venture

Smackover Lithium represents a joint endeavor between Standard Lithium and Equinor, founded in May 2024. This partnership is dedicated to developing two Direct Lithium Extraction Project Companies, enhancing the strategic growth of lithium resources in the region. Standard Lithium holds a majority stake of 55%, while Equinor manages the remaining 45% share in these ventures.

About Standard Lithium Ltd.

Standard Lithium has made a name for itself as a prominent player in the lithium industry. The company focuses on environmentally sustainable practices in developing its extensive portfolio of high-grade lithium brine properties located in the United States. Utilizing a fully integrated Direct Lithium Extraction process, Standard Lithium aims to achieve significant commercial-scale lithium production. The Smackover Formation, particularly in Arkansas and Texas, is home to the company's flagship projects, with notable advancements in sustainable lithium extraction technologies.

Equinor's Contribution in Energy

Equinor operates as a robust energy corporation dedicated to generating long-term value while transitioning to a low-carbon future. The company's broad portfolio encompasses various energy sectors, including renewables and low-carbon solutions. Equinor strives to establish itself as a net-zero energy producer by 2050 and plays a crucial role in supporting the development of Smackover Lithium's DLE projects.

Frequently Asked Questions

What is the significance of the Lester well?

The Lester well has recorded the highest lithium concentration in the SWA Project area, marking a significant milestone in lithium exploration.

What are the next steps for Smackover Lithium?

The team is focused on finalizing the FEED study and preparing for a Definitive Feasibility Study while conducting project finance negotiations.

How does Smackover Lithium enhance lithium extraction?

The joint venture employs advanced Direct Lithium Extraction technologies that promise efficient and sustainable lithium resource development.

What role does Equinor play in this project?

Equinor contributes significant energy industry expertise, assisting in the development of lithium extraction projects and the pursuit of sustainable energy solutions.

How can I contact Standard Lithium for investor inquiries?

Investors can reach out to Dan Rosen from Standard Lithium via telephone or email for any investor-related questions.

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