Canadian energy exploration and development company Standard Lithium Ltd. (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF) this morning announced its entry into a memorandum of understanding with TETRA Technologies, Inc. (NYSE: TTI) aimed at securing access to additional operating and permitted land consisting of approximately 12,100 acres in Bristol Dry Lake and up to 11,840 acres in the adjacent Cadiz Dry Lake in California’s Mojave Desert. With these additions, Standard Lithium now has access to approximately 48,000 acres of mixed private, patented and placer claim land in the Bristol Dry Lake and Cadiz Dry Lake basins, allowing it exclusive lithium brine exploration and processing rights. “Since day one we have recognized the bigger opportunity with respect to expanding the resource base and strengthening project economics at Bristol Dry Lake by securing the rights for lithium development over the entire basin,” Robert Mintak, CEO of Standard Lithium, stated in the news release. “By inking an agreement with TETRA, the only other permitted operator in the area, we have now effectively achieved that. This is a significant and strategic move for Standard, but has only been made possible by the excellent relationships we have developed with the permitted brine operators in the region.”
To view the full press release, visit http://dtn.fm/1vHal
About Standard Lithium
Standard’s value creation strategy encompasses acquiring a diverse and highly prospective portfolio of large-scale domestic brine resources, led by an innovative and results-oriented management team with a strong focus on technical skills. The Company is currently focused on the immediate exploration and development of the Bristol Dry Lake Lithium Project located in the Mojave region of San Bernardino County, California; the location has significant infrastructure in-place, with easy road and rail access, abundant electricity and water sources, and is already permitted for extensive brine extraction and processing activities. The Company is also commencing due diligence and resource evaluation on 33,000 acres of lithium brine leases located in the Smackover Formation. For more information, visit the company’s website at www.standardlithium.com
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