SLI - Standard Lithium finds 'highest confirmed grade lithium brine in Arkansas'

2023-05-23 08:57:44 ET

Standard Lithium ( NYSE: SLI ) said Tuesday it has drilled and sampled, "to the best of its knowledge, the highest confirmed lithium grade brine in Arkansa s," with a grade of 581 mg/L, as part of resource definition work at its South West Arkansas project.

The company said the lithium brine samples were taken from a pre-existing well located in the central-eastern portion of the project area in the Arkansas Smackover formation.

Standard Lithium ( SLI ) said the sampling data follow similar high-grade results from its resources in Texas.

The stock surged 10.5% in Monday's trading in the wake of Ford Motor's announced multiple lithium supply deals and a report that Exxon Mobil had purchased drilling rights to a chunk of land in the Smackover formation where it plans to produce lithium.

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