Arizona Lithium will continue to drill additional exploration wells with the goal of putting together a resource assessment for Souris River. Pic: Getty Images.
Arizona Lithium flags new lithium discovery at Prairie project
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- 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 class lithium resource expected to grow with this discovery
Special Report: Arizona Lithium has discovered a new lithium enriched formation at its Prairie project in Canada, with sampling indicating a lithium concentration of 86 mg/L.
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’s top mining friendly jurisdictions, the find could potentially increase this figure considerably.
Prairie itself is one of Arizona Lithium’s (ASX:AZL) North American lithium development projects, the other being the Big Sandy project in Arizona.
At Prairie, Well #1 was drilled into the Souris River Formation at Pad #1 before being converted into a Duperow Formation production well.
The Souris River Formation – where the 86 mg/L sample was found – directly underlies the Duperow Formation across the entire 391,000 acres of the project area.
Discovery highlights exploration upside
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).
The well-produced ~2400m3 of brine before being shut in for the build-up test to monitor reservoir pressure response.
“The exploration results from our first well are fantastic,” Arizona Lithium (ASX:AZL) managing direct Paul Lloyd said.
“The discovery of the Souris River lithium in Saskatchewan highlights the exploration upside that exists across the project.
“While 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.”
Additional wells will be drilled
Reservoir performance exceeded expectations and the data will be used to calibrate the company’s well field model and future Duperow well design.
AZL will continue to bring production and disposal wells online in the coming months as it prepares for production at Pad #1 in 2025.
Additional wells will be drilled into the Souris River and Dawson Bay at Pad #2 and Pad #3 as part of the company’s drilling campaign.
“This 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.” Lloyd said.
“The 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.”
This article was developed in collaboration with Arizona Lithium, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
