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EL DORADO, Ark., Could 02, 2022 (World NEWSWIRE) — Conventional Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), an impressive technological know-how and lithium undertaking advancement firm, right now introduced the commencement of a Preliminary Feasibility Research (PFS) at its South West Arkansas Lithium Job (the “Project”), which is positioned about 35 miles west of the Company’s Lanxess undertaking.
Regular Lithium recently accomplished a Preliminary Economic Assessment at the Challenge (see Business news release Nov 26, 2021), and on the foundation of optimistic challenge economics and favorable job fundamentals, the Enterprise has commissioned a staff of technical experts to total a NI43-101 compliant PFS for the Undertaking. The PFS will take into account an integrated job like brine offer and injection wells, pipelines and brine remedy infrastructure, a Immediate Lithium Extraction (“DLE”) plant making use of the Company’s proprietary LiSTR know-how, and a lithium chloride to lithium hydroxide conversion plant.
Dr. Andy Robinson, President and COO of Conventional Lithium commented “pursuing the critical expense from Koch Strategic Platforms in Q4 2021, we’ve been able to grow our group with supplemental technical and administration strength. Now we can manage and travel several jobs in parallel. The commencement of this comprehensive PFS is a testament to the Company’s ambition to not only provide the very first new professional lithium task into generation in the United States in 6 many years, but also to have a sturdy pipeline of subsequent tasks that will serve the long run demand from customers for lithium chemical compounds in North The usa. We have assembled a broad workforce of consultants, complex advisors and matter make any difference specialists to entire all the essential work for this PFS, and we will also be performing hand in hand with our strategic and challenge partners to ensure effective execution. We anticipate to comprehensive the bulk of the function by means of the balance of 2022, with completion and reporting of the outcomes of the PFS in Q1 2023.”
Conventional Lithium has engaged Hunt, Guillot & Associates from Ruston, Louisiana (“HGA”) as the lead consultant, to prepare and coordinate the PFS with support of a multi-disciplinary technical staff. The work method to aid the PFS will consist of the following:
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Reentry of existing wells throughout Normal Lithium’s brine lease location to acquire new representative brine samples from the Smackover Formation
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Reperforation of existing wells, wherever feasible, to get hold of discrete depth-unique brine samples from beforehand unsampled zones of the Smackover
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Drilling of a new perfectly in a key locale to full data protection throughout the Company’s brine lease spot
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Long duration pumping assessments from selected wells to exam hydrogeological and reservoir ailments for brine extraction and reinjection
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Assortment of huge volume brine samples for the duration of pumping exams to permit the South West Venture brine to be processed via Common Lithium’s proprietary LiSTR DLE procedure
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Acquisition and reprocessing of more 2D seismic information throughout and adjacent to the Company’s brine leases
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Technology of a new 3D reservoir model to ascertain an up to date in-situ lithium useful resource, and extraction/reinjection manufacturing options for the commercial facility
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Completion of several Pilot Research with technology associates to test the lithium chloride to lithium hydroxide conversion method at enough scale and period. These scientific tests will be concluded working with LiCl developed by the Company’s functioning LiSTR Demonstration Plant
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Up-to-date capital prices (AACE Course 4 estimate +45/-25%) for a similar 30,000 tonnes for every annum lithium hydroxide facility as earlier contemplated by the PEA
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Functioning charges up-to-date and benefited by the data collected all through 2+ a long time of steady procedure of the LiSTR Demonstration Plant in Union County, Arkansas and,
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Totally current task economics working with revised long run pricing for lithium hydroxide generated and delivered in North America.
Quality Assurance
Steve Ross, P.Geol., a Capable Person as described by NI 43-101, has reviewed and accredited the relevant scientific and technical information and facts that sorts the foundation for this news launch. Mr. Ross is a marketing consultant to the Enterprise.
About Common Lithium Ltd.
Standard Lithium is an progressive know-how and lithium progress corporation. The Company’s flagship undertaking is located in southern Arkansas, exactly where it is engaged in the screening and proving of the industrial viability of lithium extraction from above 150,000 acres of permitted brine operations. The Business operates its initially-of-a-form industrial-scale Direct Lithium Extraction (DLE) demonstration plant at Lanxess’s south plant facility in southern Arkansas. The demonstration plant utilizes the Company’s proprietary LiSTR technological innovation to selectively extract lithium from Lanxess’s tail brine. The demonstration plant is remaining utilised for evidence-of-idea and business feasibility reports. The scalable, environmentally friendly course of action removes the use of evaporation ponds, cuts down processing time from months to hrs and considerably improves the powerful recovery of lithium. The Company is also pursuing the resource improvement of about 30,000 acres of individual brine leases found in southwest Arkansas, referred to as the South West Arkansas Lithium Venture, and approximately 45,000 acres of mineral leases positioned in the Mojave Desert in San Bernardino County, California.
Conventional Lithium is jointly stated on the TSX Undertaking Trade and the NYSE American less than the investing symbol “SLI” and on the Frankfurt Stock Trade less than the image “S5L”. Be sure to pay a visit to the Company’s internet site at https://www.standardlithium.com.
On behalf of the Board of Regular Lithium Ltd.
Robert Mintak, CEO & Director
Neither TSX Venture Exchange nor its Regulation Solutions Supplier (as that term is described in insurance policies of the TSX Enterprise Exchange) accepts duty for the adequacy or accuracy of this launch. This news release may possibly incorporate certain “Forward-Looking Statements” in just the that means of the United States Private Securities Litigation Reform Act of 1995 and relevant Canadian securities legal guidelines. When utilized in this information launch, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other related text or expressions discover forward-looking statements or information and facts. These ahead-wanting statements or information may perhaps relate to long run price ranges of commodities, accuracy of mineral or source exploration activity, reserves or means, regulatory or government requirements or approvals, the dependability of third celebration details, continued access to mineral properties or infrastructure, fluctuations in the sector for lithium and its derivatives, adjustments in exploration fees and govt regulation in Canada and the United States, and other things or information and facts. This sort of statements represent the Company’s current sights with regard to long run occasions and are essentially based on a amount of assumptions and estimates that, though regarded as fair by the Company, are inherently issue to sizeable enterprise, financial, competitive, political and social threats, contingencies and uncertainties. Quite a few variables, equally identified and unidentified, could trigger final results, overall performance or achievements to be materially distinct from the success, efficiency or achievements that are or may possibly be expressed or implied by such forward-on the lookout statements. The Company does not intend, and does not think any obligation, to update these forward-looking statements or information to mirror adjustments in assumptions or modifications in situation or any other events affections these types of statements and information and facts other than as required by applicable regulations, policies and polices.
Get hold of: For more information get hold of: LHA Investor Relations David Barnard +1 415-433-3777 [email protected] [email protected] Twitter: @standardlithium LinkedIn: https://www.linkedin.com/business/normal-lithium/
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