Smackover Lithium's Franklin Project Reveals Major Lithium Resource
Smackover Lithium Unveils Maiden Inferred Resource
LEWISVILLE, Ark. – Smackover Lithium, a joint venture between Standard Lithium Ltd. and Equinor, has recently released an exciting update about its Franklin Project in East Texas. This announcement highlights a maiden inferred resource that points to a promising future for lithium extraction in the region, particularly noted for its high-quality brine position yielding the highest lithium-in-brine grades recorded in North America.
Franklin Project Overview
The Franklin Project, the first undertaking of the Smackover Lithium joint venture, has demonstrated marked potential for substantial lithium production. This initiative is strategically poised to contribute over 100,000 tonnes of lithium chemicals annually through various phases of development. The joint venture also aims to expand its influence with two additional projects in East Texas that could significantly enhance its resource portfolio.
Exploration Highlights
With extensive brine mineral leasing since 2022 covering approximately 80,000 acres, over 46,000 acres have already been secured to support the inferred resource. The comprehensive exploration conducted, which included 2D seismic studies and detailed analysis of historic oil and gas well data, has provided critical insights about the brine's characteristics and the aquifer.
Key Resource Metrics
The resource report has identified an estimated 2,159,000 metric tonnes of lithium carbonate equivalent and noteworthy figures for potash and bromide, which are also included within the inferred resource assessment. This significance underlines the Franklin Project’s potential contribution to the growing demand for critical minerals, especially lithium, in the green energy transition.
Statements from Company Leaders
Dr. Andy Robinson, President and COO of Standard Lithium, expressed his enthusiasm for the findings, emphasizing the strategic importance of the Franklin Project. He noted that securing high-quality brine resources in North America is critical and that the results from this project will serve as a cornerstone for larger production ambitions moving forward.
Allison Kennedy Thurmond, VP for US Lithium at Equinor, added that this resource report is a significant milestone in realizing the broader lithium potential within the Smackover Lithium joint venture and expressed excitement about progressing to the next project phase.
Resource Estimation Methodology
The inferred resource is based on data collected from an extensive area of brine-sourced mineral leases distributed across various counties in Northeast Texas. The operational focus has been on the Smackover Formation, where geological nuances have been analyzed using seismic data and core samples. This thorough assessment has enabled accurate modeling of the resource’s various characteristics, particularly porosity and brine chemistry.
Next Steps in Development
Moving ahead, Smackover Lithium plans to refine its understanding of the resource through additional drilling and testing. These efforts will lead to the compilation of a Preliminary Feasibility Study aimed at establishing a more definitive resource assessment. The joint venture is committed to utilizing advanced direct lithium extraction testing based on insights gained from existing projects in Arkansas.
About Smackover Lithium and Its Partners
Smackover Lithium is a collaboration between Standard Lithium and Equinor, formed with the aim of capitalizing on the rich lithium deposits found in the Smackover Formation. Standard Lithium manages a 55% interest in the venture while Equinor holds 45%, with projects actively progressing in both Arkansas and Texas.
Standard Lithium is dedicated to the sustainable development of its lithium-brine properties in the United States, emphasizing eco-friendly practices and community engagement. With a robust operational strategy and strategic partnerships, they are well-positioned to become industry leaders in lithium production.
Frequently Asked Questions
What is the Franklin Project?
The Franklin Project is a lithium extraction initiative by Smackover Lithium, focusing on leveraging high-quality brine resources in East Texas.
What are the key findings from the inferred resource assessment?
The assessment indicated approximately 2,159,000 metric tonnes of lithium carbonate equivalent among other critical minerals, highlighting the project's significant potential.
Who are the key partners in Smackover Lithium?
Smackover Lithium is a joint venture between Standard Lithium and Equinor, collaborating to maximize the lithium potential of their projects.
What are the next steps for the Franklin Project?
Next steps include further drilling for resource refinement and advancing to a Preliminary Feasibility Study to solidify the project’s development strategy.
Why is this project important for lithium supply?
The Franklin Project promises to increase the supply of lithium, a crucial mineral for greener technologies and electric vehicles, aligning with global sustainability efforts.
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