EL DORADO, Ark., Might 02, 2022 (World NEWSWIRE) — Typical Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), an innovative technology and lithium project progress firm, right now introduced the commencement of a Preliminary Feasibility Analyze (PFS) at its South West Arkansas Lithium Challenge (the “Project”), which is found about 35 miles west of the Company’s Lanxess challenge.
Standard Lithium a short while ago concluded a Preliminary Economic Evaluation at the Project (see Enterprise information launch Nov 26, 2021), and on the foundation of optimistic undertaking economics and favorable undertaking fundamentals, the Firm has commissioned a workforce of specialized specialists to comprehensive a NI43-101 compliant PFS for the Task. The PFS will take into account an integrated venture together with brine supply and injection wells, pipelines and brine treatment method infrastructure, a Direct Lithium Extraction (“DLE”) plant applying 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 “next the critical investment decision from Koch Strategic Platforms in Q4 2021, we have been ready to improve our team with extra technical and management power. Now we can handle and generate several initiatives in parallel. The graduation of this thorough PFS is a testomony to the Company’s ambition to not only provide the initially new commercial lithium undertaking into production in the United States in 6 many years, but also to have a strong pipeline of subsequent projects that will serve the upcoming demand from customers for lithium chemicals in North The us. We have assembled a wide workforce of consultants, complex advisors and subject matter subject gurus to comprehensive all the required operate for this PFS, and we will also be functioning hand in hand with our strategic and venture companions to be certain effective execution. We hope to full the bulk of the get the job done via the stability of 2022, with completion and reporting of the success of the PFS in Q1 2023.”
Normal Lithium has engaged Hunt, Guillot & Associates from Ruston, Louisiana (“HGA”) as the guide advisor, to get ready and coordinate the PFS with assistance of a multi-disciplinary technical workforce. The get the job done software to aid the PFS will consist of the pursuing:
Reentry of current wells throughout Normal Lithium’s brine lease place to attain new representative brine samples from the Smackover Formation
Reperforation of current wells, wherever feasible, to acquire discrete depth-unique brine samples from formerly unsampled zones of the Smackover
Drilling of a new nicely in a vital site to complete facts coverage across the Company’s brine lease region
Long length pumping assessments from chosen wells to examination hydrogeological and reservoir circumstances for brine extraction and reinjection
Collection of massive quantity brine samples throughout pumping tests to permit the South West Project brine to be processed as a result of Typical Lithium’s proprietary LiSTR DLE procedure
Acquisition and reprocessing of additional 2D seismic data throughout and adjacent to the Company’s brine leases
Technology of a new 3D reservoir model to identify an updated in-situ lithium resource, and extraction/reinjection creation plans for the industrial facility
Completion of various Pilot Scientific tests with know-how companions to exam the lithium chloride to lithium hydroxide conversion system at ample scale and period. These scientific tests will be finished using LiCl produced by the Company’s running LiSTR Demonstration Plant
Current capital charges (AACE Class 4 estimate +45/-25%) for a very similar 30,000 tonnes for each annum lithium hydroxide facility as formerly contemplated by the PEA
Running charges up to date and benefited by the details gathered through 2+ years of continuous procedure of the LiSTR Demonstration Plant in Union County, Arkansas and,
Totally current venture economics applying revised foreseeable future pricing for lithium hydroxide made and delivered in North America.
Steve Ross, P.Geol., a Competent Individual as defined by NI 43-101, has reviewed and permitted the pertinent scientific and complex details that forms the basis for this news launch. Mr. Ross is a advisor to the Firm.
About Conventional Lithium Ltd.
Normal Lithium is an impressive technological innovation and lithium progress company. The Company’s flagship undertaking is found in southern Arkansas, where by it is engaged in the screening and proving of the business viability of lithium extraction from about 150,000 acres of permitted brine functions. The Firm operates its to start with-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 engineering to selectively extract lithium from Lanxess’s tail brine. The demonstration plant is remaining utilized for evidence-of-principle and industrial feasibility studies. The scalable, environmentally helpful process gets rid of the use of evaporation ponds, minimizes processing time from months to hours and greatly boosts the successful restoration of lithium. The Company is also pursuing the useful resource growth of around 30,000 acres of separate brine leases situated in southwest Arkansas, referred to as the South West Arkansas Lithium Challenge, and close to 45,000 acres of mineral leases positioned in the Mojave Desert in San Bernardino County, California.
Normal Lithium is jointly listed on the TSX Enterprise Trade and the NYSE American underneath the trading image “SLI” and on the Frankfurt Stock Trade under the symbol “S5L”. Be sure to visit the Company’s site at https://www.standardlithium.com.
On behalf of the Board of Typical Lithium Ltd.
Robert Mintak, CEO & Director
Neither TSX Venture Trade nor its Regulation Products and services Service provider (as that phrase is outlined in policies of the TSX Enterprise Trade) accepts obligation for the adequacy or accuracy of this release. This news launch may perhaps consist of particular “Forward-On the lookout Statements” inside of the this means of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities rules. When applied in this information launch, the words and phrases “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other very similar words or expressions establish forward-looking statements or information. These forward-on the lookout statements or data may perhaps relate to future price ranges of commodities, precision of mineral or useful resource exploration activity, reserves or methods, regulatory or govt requirements or approvals, the trustworthiness of 3rd celebration info, ongoing obtain to mineral properties or infrastructure, fluctuations in the marketplace for lithium and its derivatives, modifications in exploration fees and governing administration regulation in Canada and the United States, and other components or data. These types of statements depict the Company’s latest views with respect to potential activities and are essentially centered on a variety of assumptions and estimates that, though regarded as sensible by the Firm, are inherently subject to significant enterprise, economic, aggressive, political and social hazards, contingencies and uncertainties. Many components, both equally identified and unfamiliar, could bring about results, overall performance or achievements to be materially distinct from the final results, efficiency or achievements that are or could be expressed or implied by these kinds of forward-seeking statements. The Organization does not intend, and does not suppose any obligation, to update these ahead-on the lookout statements or facts to reflect changes in assumptions or improvements in circumstances or any other occasions affections these statements and information and facts other than as necessary by applicable regulations, guidelines and laws.
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