Standard Lithium receives results of laboratory tests on Arkansas lithium brine
STANDARD LITHIUM
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Laboratory results on high-quality lithium brine recovered from Canadian miner Standard Lithium's Smackover Formation in southwestern Arkansas showed lithium concentrations ranging between 347–461 milligrams per litre in four samples from two existing wells.
Standard Lithium revealed that one well had shown an average of 450 mg/L lithium, while the other had displayed an average of 350 mg/L.
The brines were sampled from pre-existing oil and gas wells that had been previously drilled to depths of approximately 9,300 ft below ground level at the Smackover Formation.
While some historical infrastructure was removed from the two holes, and new production tubing was installed, the wells were found to be in good condition, were perforated in the correct zone for brine production and produced large volumes of brine from the formation using a readily-available workover rig.
Standard Lithium completed all work with the assistance of the oil and gas operator responsible for the wells. Brine samples have been sent to the firm's WETLAB Testing Laboratory in Sparks Nevada for full brine analysis.
As of 1340 BST, Standard Lithium shares had picked up 3.09% to CAD $1.00 each.