{"id":12252,"date":"2024-07-15T05:31:18","date_gmt":"2024-07-15T05:31:18","guid":{"rendered":"https:\/\/economicherald.net\/?p=12252"},"modified":"2024-07-15T05:31:18","modified_gmt":"2024-07-15T05:31:18","slug":"arizona-lithium-flags-new-lithium-discovery-at-prairie-project","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=12252","title":{"rendered":"Arizona Lithium flags new lithium discovery at Prairie project"},"content":{"rendered":"<p>Lithium discovery in never before tested deeper formation<br \/>\nSamples of 86 mg\/L Li discovered in the Souris River Formation at Pad #1 at Prairie<br \/>\nWorld class lithium resource expected to grow with this discovery<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Arizona Lithium has <\/strong><strong>discovered a new lithium enriched formation at its Prairie project in Canada, with sampling indicating a lithium concentration of 86 mg\/L.<\/strong><\/p>\n<p>While the Prairie project in the Williston Basin of Saskatchewan, Canada, already holds a resource of 6.3Mt lithium carbonate equivalent (4.5 MT LCE indicated and 1.8 MT LCE inferred) in one of the world\u2019s top mining friendly jurisdictions, the find could potentially increase this figure considerably.<\/p>\n<p>Prairie itself is one of <a href=\"https:\/\/stockhead.com.au\/company\/arizona-lithium-azl\/\"><strong>Arizona Lithium\u2019s (ASX:AZL)<\/strong><\/a> North American lithium development projects, the other being the Big Sandy project in Arizona.<\/p>\n<p>At Prairie, Well #1 was drilled into the Souris River Formation at Pad #1 before being converted into a Duperow Formation production well.<\/p>\n<p>The Souris River Formation \u2013 where the 86 mg\/L sample was found \u2013 directly underlies the Duperow Formation across the entire 391,000 acres of the project area.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Discovery highlights exploration upside<\/strong><\/h2>\n<p>Well #1 was drilled as an exploration well into the Souris River Formation at Pad #1, with the well then converted into a Duperow production well and was pumped at a stable rate of 500m3 per day (350 litres per minute).<\/p>\n<p>The well-produced ~2400m3 of brine before being shut in for the build-up test to monitor reservoir pressure response.<\/p>\n<p>\u201cThe exploration results from our first well are fantastic,\u201d <a href=\"https:\/\/stockhead.com.au\/company\/arizona-lithium-azl\/\"><strong>Arizona Lithium (ASX:AZL)<\/strong><\/a> managing direct Paul Lloyd said.<\/p>\n<p>\u201cThe discovery of the Souris River lithium in Saskatchewan highlights the exploration upside that exists across the project.<\/p>\n<p>\u201cWhile the team is focused on putting the Duperow into production, understanding where future resources can be accessed on our current land is critical to the long-term security of lithium resources in North America.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Additional wells will be drilled<\/strong><\/h2>\n<p>Reservoir performance exceeded expectations and the data will be used to calibrate the company\u2019s well field model and future Duperow well design.<\/p>\n<p>AZL will continue to bring production and disposal wells online in the coming months as it prepares for production at Pad #1 in 2025.<\/p>\n<p>Additional wells will be drilled into the Souris River and Dawson Bay at Pad #2 and Pad #3 as part of the company\u2019s drilling campaign.<\/p>\n<p>\u201cThis discovery will result in future wells by AZL and other lithium companies in the Province, targeting this deeper formation and providing information to increase our large resource.\u201d Lloyd said.<\/p>\n<p>\u201cThe team will continue to drill additional exploration wells with the goal of putting together a resource assessment for the Souris River to complement the already world class Duperow resource at the Prairie lithium project.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Arizona Lithium, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/arizona-lithium-flags-new-lithium-discovery-at-prairie-project\/\">Arizona Lithium flags new lithium discovery at Prairie project<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Lithium discovery in never before tested deeper formation Samples of 86 mg\/L Li discovered in the Souris River Formation at Pad #1 at Prairie World <a href=\"https:\/\/economicherald.net\/?p=12252\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":12253,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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