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Standard Lithium (NYSE:SLI) +4.9% pre-market Wednesday after saying it drilled and sampled a new highest confirmed lithium grade brine, measuring 806 mg/L, in its Smackover expansion efforts in east Texas.
Standard Lithium (SLI) also said brine analyses from all three of its new wells in east Texas show highly elevated concentrations of potash and bromine, signifying a large potential for these commodities.
The company said the drilling work and continued resource evaluation are from areas where it has secured the rights to all minerals contained in the brine.
“With a new confirmed lithium analysis of 806 mg/L and an average grade of 644 mg/L in our drilled area, we believe that we have identified a globally significant lithium brine asset,” President and COO Andy Robinson said.
The Smackover Formation represents North America’s premier lithium brine asset, with grades comparable to certain resources in South America.