Standard Lithium Acquires Brine Exploration Rights in Smackover Formation

Standard Lithium Ltd. (TSXV:SLL) has signed an option agreement with TETRA Technologies Inc. under which it will acquire the rights to conduct exploration, production and lithium extraction activities on up to 33,000 acres of brine leases located in Arkansas’ Smackover formation.
Highlights are as follows:

• Up to 33,000 acres of brine leases in key brine production fairway in southern Arkansas, adjacent to producing Albemarle leases;
• Historical data from Standard Lithium lease area shows 370-424 mg/L lithium in brines (Moldovanyi and Walter, 1992);
• Arkansas currently produces the equivalent of 42.6 million m³ (9,380,000,000 gallons) of brine per year (based on Arkansas Oil and Gas Commission reported average brine production from 2010-2016), almost entirely from the Smackover Formation;
• Low risk, well understood geology and chemistry;
• Significant infrastructure, roads, power, water, trained workforce in region; and
• Existing brine extraction, processing and re-injection permitting regime.

Robert Mintak, CEO of Standard Lithium, commented:

In our search for opportunities of significance, this is one that could really move the needle.  We believe the Smackover may be one of the lithium industry’s most promising regions to develop, given the potential resource size and large-scale brine-handling infrastructure in the region.  This agreement highlights our excellent working relationship with TETRA, and signing this deal allows Standard Lithium access to the last available large lease package in the key brine production zone of the Smackover.

Click here to read the full Standard Lithium Ltd. (TSXV:SLL) press release.