Standard Lithium Ltd., a leading near-commercial lithium company, recently revealed the commencement of a drilling program at its South West Arkansas Lithium Project (the “Project”) to support the forthcoming Preliminary Feasibility Study. The drilling program will inform the resource definition and de-risk the resource estimate, provide additional porosity and permeability data through the entire thickness of the productive zones in the Smackover Formation, and optimize the production-wellfield design.
“Since beginning the PFS work at our South West Arkansas Lithium Project last year, the team has been advancing numerous engineering and process studies, while simultaneously completing all the leases and permits required to start the drilling program,” said Dr. Andy Robinson, President. “This systematic drilling program for both new wells and re-entries into pre-existing, plugged and abandoned wells will collect all necessary resource data for the forthcoming PFS as well as the majority of resource data for the subsequent Definitive Feasibility Study (“DFS” aka Bankable Feasibility). Our ongoing engineering and costing work at Phase 1A of our nearby LANXESS Property Project will also help inform the PFS. When complete, the PFS will provide an updated view of project feasibility and economics.”
The drilling program covers two new locations and three re-entries of plugged and abandoned (pre-existing) oil and gas wells. Typically, when a pre-existing well is being re-entered, it will be deepened to gather more data from the entire Smackover Formation thickness underlying the Project area.
To learn more about the drilling program, click here.
READ ALSO: ENTREPRENEURS CAN DEVELOP, PITCH IDEAS AT TECHSTARS STARTUP WEEKEND