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Commonplace Lithium (NYSE:SLI) +4.9% pre-market Wednesday after saying it drilled and sampled a brand new highest confirmed lithium grade brine, measuring 806 mg/L, in its Smackover enlargement efforts in east Texas.
Commonplace Lithium (SLI) additionally mentioned brine analyses from all three of its new wells in east Texas present extremely elevated concentrations of potash and bromine, signifying a big potential for these commodities.
The corporate mentioned the drilling work and continued useful resource analysis are from areas the place it has secured the rights to all minerals contained within the brine.
“With a brand new confirmed lithium evaluation of 806 mg/L and a mean grade of 644 mg/L in our drilled space, we imagine that we’ve recognized a globally important lithium brine asset,” President and COO Andy Robinson mentioned.
The Smackover Formation represents North America’s premier lithium brine asset, with grades similar to sure sources in South America.
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