VANCOUVER, British Columbia, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSX-V:SLL) (OTCQX:STLHF) (FRA:S5L) is pleased to provide an update of the exploration program that is in full swing at the Company’s California Lithium Properties. The Company and their drilling contractors have now completed six exploration boreholes across the Bristol Dry Lake Project area, and three of the exploration holes have had temporary sampling casing installed so that high quality lithium brine samples can be collected from the extensive lithium brine-bearing aquifers. The temporary PVC casing also allows for down-hole geophysics to be completed to collect additional geological and hydrogeological data. Drilling of an observation well is currently ongoing, and once completed, will allow for robust pumping tests to be performed at the Project. An additional exploration well and observation well are already permitted, and the Company is awaiting final confirmation to allow an additional, deeper exploration borehole to be drilled on Patented claims owned by Tetra Technologies Inc. Detailed lithium brine analyses will be issued once final, representative brine samples have been taken and cross-checked with all QA/QC to ensure quality. All data gathered from the Bristol Dry Lake Project will be used to advance the maiden resource estimate, expected towards the end of Q2 2018.
The Company has also confirmed that a large-scale, detailed gravity geophysical survey is scheduled to be performed on the Cadiz Dry Lake Lithium Property, commencing on February 21st, 2018. The survey has been designed to tie into historical gravity survey work completed in the Cadiz Dry Lake area by the USGS, and will allow the thickness and extent of the deep infilled basin to be properly defined. Active brine harvesting from relatively shallow wells is ongoing in the Cadiz Dry Lake area, and Standard Lithium’s technical team will commence a full sampling program from this active well field in the next 2-3 weeks.
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 Ltd.
Standard’s value creation strategy encompasses acquiring a diverse and highly prospective portfolio of large-scale domestic US 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 resource evaluation on up to 33,000 acres of 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.
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 Properties.