11:59 AM EST - Standard Lithium Ltd. : Has provided 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. Standard Lithium Ltd.
shares V.SLL are trading up 8 cents at $2.05.
