VANCOUVER, British Columbia, April 19, 2018 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV:SLL) (FRA:S5L) is pleased to announce that Hasbrouck Geophysics Inc. has successfully completed a large-scale gravity geophysical survey at the Company’s Cadiz Dry Lake Project, in the Mojave area of California. The Cadiz Dry Lake Property is located approximately 20 km southeast of the Company’s Bristol Dry Lake Property and is currently permitted for brine extraction and processing activities. The work has defined an infilled basin with a maximum depth of just over 700 m beneath the Project area.
Dr. Andy Robinson, COO and President of Standard Lithium commented: "The results from this high quality geophysical survey are very encouraging. This work has defined a closed basin with infill deposits that are known to host lithium brines, based on preliminary sampling of extraction wells operated by the permitted producer. Standard Lithium’s excellent relationship with the Project’s permitted operator will allow for further exploration of the deeper basin infill deposits under the existing permitted brine operations. This successful and rapid acquisition of high quality gravity survey data from our Cadiz Dry Lake Project will be used to plan additional resource assessment work at Cadiz for the remainder of 2018."
Hasbrouck Geophysics, Prescott, AZ collected gravity readings from 89 new stations, integrated 85 public domain gravity stations, and integrated data over approximately 211 km2. The new stations were spaced at 1 km intervals along 17 east-west lines spaced 700-800 m apart. The integrated gravity model defined a basin-shaped depression that underlies the approximately 11,840 acres of placer and patented mineral claims. The basin underlying the claims is steep-sided, consistent with the basin being fault-bounded, and similar in nature to Standard Lithium’s nearby Bristol Dry Lake Project. Repeat readings of new stations ranged between 0.014 and 0.027 mGals, while the spread for base readings (both field and absolute) is between 0.009 and 0.015 mGals, demonstrating that the data are of excellent quality.
The well-defined gravity trough and deeper basin indicate potential for structurally concentrated lithium brines at depth. The survey results will be used to plan further exploration, which will include additional geophysical surveys to identify Li-brine bearing zones and structural control. For further information on the adjacent Bristol Dry Lake Project, please see Standard Lithium’s Technical Report dated September 13, 2016, compiled in accordance with NI 43-101 guidelines on Sedar.com.
Quality Assurance
Raymond Spanjers, Registered 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 and modern brine processing technologies. The Company is currently engaged in the exploration and resource 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 rapidly conducting resource evaluation on up to 33,000 acres of brine leases located in the Smackover Formation in Southern Arkansas.
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.