VANCOUVER, British Columbia, June 29, 2017 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV:SLL) (FRA:S5L) (OTCQX:STLHF) is pleased to announce that it has commenced a detailed and large-scale Controlled-Source Audio-Magnetotellurics / Magnetotellurics (CSAMT/MT) geophysical survey at the Company’s Bristol Lake Project, in the Mojave area of California. The survey is being conducted in order to help better define the extent of highly conductive brine resources in the deep infilled basin that underlies SLL’s Project area (brine-bearing basin is up to 1.2 km thick beneath the Project area, as revealed by recent gravity survey work; see news release dated 5th June). The survey is being completed on Standard’s extensive 16,000+ acre landholding in the Bristol Lake basin, and will also be extended onto adjacent brine-producing properties in the basin, thanks to the kind cooperation of our neighbours.
Standard Lithium has retained Hasbrouck Geophysics to perform data acquisition and interpretation. Hasbrouck are ideally suited to performing the work as they have extensive experience conducting geophysical surveys in many brine-bearing basins across the southwestern US. Hasbrouck and their team have mobilised to site and expect that data acquisition should take approximately 2 weeks to complete given the detailed nature of the survey and the large size of the resource area, and that initial interpretation should be available for Standard’s technical team to assess in the second half of July. Results from the CSAMT/MT survey will also be used to help scope and determine locations for the next phases of Standard’s resource assessment program for the Bristol Lake Project.
Dr. Andy Robinson, COO and President of Standard Lithium, commented: “We’re delighted to be partnering with Hasbrouck Geophysics as they bring their breadth of exploration geophysical knowledge to bear on our Bristol Lake Project. Our team has completed several previous surveys with Hasbrouck and we look forward to seeing their interpretation of the lateral and vertical extent of the brine deposits that are present beneath our Project area. Results from this phase of work will be very helpful in determining final locations for a proposed drilling programme that will take place in the second half of 2017.“
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 innovation & results oriented management team with a strong focus on technical skills. The Company is currently focused on the immediate exploration and development of its 16,000+ acre Bristol Lake, Brine 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. Standard also recently announced the acquisition of the 41,000+ acre Paradox Basin Project located in Grand County, Utah.
For further information, contact Anthony Alvaro at 604.763.5388.
On behalf of the Board,
Standard Lithium Ltd.
Robert Mintak, CEO & Director
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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.