Standard Lithium Provides Update on Exploration and Process Testing Program at Bristol Dry Lake, Mojave, California
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, Oct. 10, 2017 (GLOBE NEWSWIRE) -- Standard Lithium
Ltd.("Standard Lithium" or the "Company") (TSX-V:SLL) (FRA:S5L) (OTCQX:STLHF) is
pleased to provide an update on the exploration and process testing program at
the Company's Bristol Dry Lake lithium brine project located in the Mojave
Desert, California.
Building on the promising results of its recently completed large-scale
geophysical surveys, the Company has commenced a resource definition drill
program on its approximately 25,000 acre Bristol Dry Lake lithium brine
project. The objectives of the intrusive exploration program are to establish
the lithium grade of the subsurface brine across Standard's extensive
landholdings within the large salar; to determine depth and lateral extent of
the brine; and also to define key geological and hydrogeological data that will
be required in order to develop a maiden resource estimate. The Company has
received all required permits and approvals from Federal and County regulators
to conduct the exploration drilling program. Two drill rigs have commenced work
on site and the Company's team of senior geologists and hydrogeologists are
supervising all work.
In addition to the geophysical and intrusive exploration programs, the Company
has collected and shipped bulk raw brine samples from Bristol Dry Lake to
several leading lithium brine assessment and process technology firms across
North America. These firms have begun a series of lab-scale process testing
studies of the Bristol Dry Lake brine and will begin determining the most
efficient and effective process technologies to optimize lithium recovery from
this important U.S. mineral brine bearing resource. The Company has also
completed preliminary evaporation pond process testing work at the Bristol Dry
Lake project site. The initial test work consisted of taking raw brines
gathered from near-surface test pits (depth to lithium brine at the project is
typically 5-20 ft (1.5-6 m)) and pumping the brine into three shallow plastic-
lined ponds that were partially buried to avoid heating effects on the walls of
the ponds. Brine samples and field parameters were taken on a weekly schedule,
and samples were sent for chemical analysis to a qualified laboratory in Sparks,
NV. The data from this first round of evaporation pond testing showed that the
raw brine pumped from the near-surface test-pit contained an average
concentration of 146 mg/L lithium, and that within a period of 4 weeks, the
brine was concentrated by passive solar evaporation to an average lithium
concentration of 556 mg/L (max. 717 mg/L). These short-duration evaporation
tests will be repeated several times throughout the year, so that seasonal
effects can be quantified. Data developed from this short-duration evaporation
pond work will be incorporated into the ongoing process-testing work being
conducted by leading North American process technology firms.
Standard Lithium's President and COO, Dr. Andy Robinson commented, "Standard's
exploration and process-testing programs are now fully underway and being
completed in parallel by our highly experienced resource assessment and chemical
engineering teams. The amount of work that we've been able to complete in such
a short period of time is evidence of our fast-track development philosophy, and
speaks volumes to the constructive relationships that we have in place with the
existing fully-permitted brine producers in operation at Bristol Dry Lake. All
of the work being completed right now will be used to support the maiden 43-101
resource estimate for the Bristol Dry Lake lithium brine project, estimated for
the first half of 2018".
Quality Assurance
Raymond Spanjers, Certified 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
Standard's value creation strategy encompasses acquiring a diverse and highly
prospective portfolio of large-scale domestic brine resources, led by an
innovative and results-oriented management team with a strong focus on technical
skills. The Company is currently focused on the immediate exploration and
development of the Bristol Dry Lake Lithium Project located in the Mojave region
of San Bernardino County, California; the location has significant
infrastructure in-place, with easy road and rail access, abundant electricity
and water sources, and is already permitted for extensive brine extraction and
processing activities. The Company is also commencing due diligence and
resource evaluation on 33,000 acres of lithium brine leases located in the
Smackover Formation.
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.
Neither the Company, nor National Chloride makes any representations as to the
value of lease rights associated with National Chloride's Bristol Lake mineral
claims (the "Property"), the availability of any particular resource or minerals
on the Property, or the merits of any proposed exploration work to be completed
on the Property. National Chloride expressly disclaims any responsibility for
the adequacy or accuracy of disclosure made by the Company in respect of the
Property. Readers are cautioned that a "Qualified Person"(as that term is
defined by National Instrument 43-101 - Standards of Disclosure for Mineral
Projects) has not done sufficient work to specify any mineral resource or
reserve on the Property.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Standard Lithium Ltd. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.10.2017 - 11:00 Uhr
Sprache: Deutsch
News-ID 563005
Anzahl Zeichen: 9629
contact information:
Town:
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Kategorie:
Business News
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