Standard Lithium Acquires Large Parcel of Land for South West
Arkansas Project
Standard Lithium Ltd. (“Standard Lithium” or the
“Company”) (TSXV:SLI) (NYSE American:SLI) (FRA:S5L), a leading
near-commercial lithium company, today announced the acquisition of
118 acres of land intended to advance development of its South West
Arkansas Project (“SWA Project” or the “Project”).
Dr. Andy Robinson, President and COO of Standard
Lithium, commented, “The land purchase demonstrates our commitment
to advancing and de-risking the South West Arkansas Project. The
land, which lies to the south west of the SWA Project’s brine lease
footprint, is ideally located close to a paved highway, robust
regional infrastructure and a skilled workforce. This acquisition
adds to our existing land options in the Project area and provides
us with added design flexibility as we progress the Project to the
Definitive Feasibility and FEED phase.”
Figure 1: Overview of South West
Arkansas Project and Land Purchase
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d94fc7e9-9d13-412b-a19e-415b670edcfb
The 118-acre parcel is located in Lafayette
County, Arkansas near state highway 29 which historically has been
used to access logging operations. A portion of the property has
previously been logged and the remainder of the harvestable timber
will be removed before the end of the year by the previous
owner.
Figure 2: 118-acre Land Purchase Bird’s
Eye View
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ed4c0da9-ca1a-407c-aaa3-79e2149454cf
About the South West Arkansas
Project
The South West Arkansas Project is located
approximately 15 miles west of the City of Magnolia in southwestern
Arkansas. The SWA Project’s Indicated and Inferred Mineral
Resource of 1.4 Mt and 0.4 Mt lithium carbonate equivalent,
respectively, has some of the highest reported lithium brine
concentrations in North America, averaging above 400 mg/L. The
recently announced results of a Preliminary Feasibility Study
demonstrate robust economics (see press release dated 8 August
2023), assuming production of at least 30,000 tonnes per year of
battery-quality lithium hydroxide beginning in 2027. Currently, the
Project contemplates 91 full-time equivalent employees upon
reaching commercial production.
The Company anticipates completing a FEED and
Definitive Feasibility Study for the SWA Project in 2024 and
beginning construction in 2025. The SWA Project is expected to
reach commercial production in 2027, subject to continuing project
definition, due diligence, project financing and receipt of future
feasibility studies.
About Standard Lithium Ltd.
Standard Lithium is a leading near-commercial
lithium development company with a portfolio of projects in
progress. The Company’s flagship projects, the Phase 1A Project and
the South West Arkansas Project, are located in south western
Arkansas in the heart of the Smackover Formation. The Company is
focused on producing lithium from brine using direct lithium
extraction (“DLE”) across approximately 180,000 acres of leases
from these two projects.
The Company operates an industrial-scale DLE
Demonstration Plant at the LANXESS Project. 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 has completed a Definitive
Feasibility Study (“DFS”) for its first commercial lithium
extraction plant project, Phase 1A, and expects to make a Final
Investment Decision in the first half of 2024, commence
construction thereafter and deliver commercial production in 2026.
Phase 1A is expected to produce an average 5,400 tonnes of
battery-quality lithium carbonate per year over a 25-year operating
life. For the South West Arkansas project, located 50 miles west of
Phase 1A, Standard Lithium completed a Preliminary Feasibility
Study and expects to complete a DFS by the end of 2024, commence
construction in 2025 and deliver first production in 2027. The
Company anticipates South West Arkansas to produce at least 30,000
tonnes per annum of battery-quality lithium hydroxide over a
20-plus year operating life.
Concurrently, the Company is pursuing resource
development of other projects in the Smackover Formation in East
Texas, as well as 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.
Qualified Person
Steve Ross, P.Geo., a qualified person as
defined by National Instrument 43-101, and Vice President Resource
Development for the Company, has reviewed and approved the relevant
scientific and technical information in this news release.
Twitter: @standardlithiumLinkedIn:
https://www.linkedin.com/company/standard-lithium/
Neither the 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 intended development timelines, 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 affecting such
statements and information other than as required by applicable
laws, rules and regulations.
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