Smackover Lithium Announces Positive Preliminary Economic Assessment for the Franklin Project, Its First Lithium Project in East Texas
Original announcement by tmx on
- Company
- Smackover Lithium
- Ticker
- SLI
- Exchange
- TSX
- Region
- East Texas, USA
- Primary commodity
- Lithium
- Secondary commodities
- Bromine, Potash
- Document categories
- Resource update, Economic study
- Extracted
- 2026-09-16 22:20:47 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Smackover Lithium announced positive results from a Preliminary Economic Assessment (PEA) for its Franklin Project in East Texas, projecting an after-tax NPV of US$5.0 billion and an IRR of 24.0% with a 3.1-year payback period. The PEA contemplates annual production capacity of up to 70,000 tonnes of battery-quality lithium carbonate over a 20-year operating life. The company also reported an upgraded Mineral Resource, including a conversion of Inferred to Indicated, with significant contained lithium, bromide, and potash, and noted potential future upside from bromine and potash commercial opportunities.
Reasoning: The document announces positive Preliminary Economic Assessment results for the Franklin Project, highlighting robust economics, a large production scale, and an upgraded mineral resource. While the study is preliminary and includes Inferred resources, the overall outlook is strong with significant upside potential.
Positive factors
- Positive Preliminary Economic Assessment (PEA) results with robust economics
- Significant production capacity of up to 70,000 tpa lithium carbonate
- High after-tax IRR of 24.0% and short payback period of 3.1 years
- Upgraded and upsized Mineral Resource with conversion of Inferred to Indicated
- High lithium-in-brine concentrations reported
- Potential for additional value from bromine and potash commercial opportunities
Negative factors
- PEA is preliminary in nature and includes Inferred Mineral Resources
- No inflation or escalation factor applied in economic modelling
- Potash recovery process still requires development and is not included in current economics
- Middle Smackover lithium concentration based on single exploration well
Facts used in scoring: 15
Classification and evidence
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: A current resource fact retains the disclosed cut-off grade
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The source explicitly discloses a revised resource estimate
Evidence · text
“Increased Mineral Resource”
Extracted facts
Stored fact records: 14. Some facts used in scoring do not have a stored record.
Resource Estimates (14)
indicatedFranklin Project · lithiumGrade: 562Grade Unit: mg/LContained Metal: 333Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- lithium
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:2773541dfcb4c4f1c705
- Deposit or zone
- Upper Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Grade
- 562
- Grade Unit
- mg/L
- Contained Metal
- 333
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The Indicated Mineral Resource for Upper Smackover lithium shows high concentration and substantial contained metal, representing a de-risked portion of the overall resource.
Positive factors
- Indicated resource category provides higher confidence
- High average lithium concentration of 562 mg/L
- Significant contained lithium and LCE
Evidence · table
“1,771”
Context: LCE
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating a reasonable level of geological confidence.
Evidence · table
“Indicated”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · lithiumGrade: 562Grade Unit: mg/LContained Metal: 334Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- lithium
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:e15df52a32ff9ec0a9e9
- Deposit or zone
- Upper Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Grade
- 562
- Grade Unit
- mg/L
- Contained Metal
- 334
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The Inferred Mineral Resource for Upper Smackover lithium adds significant contained metal, but its lower confidence category means it is more speculative than the Indicated portion.
Positive factors
- High average lithium concentration of 562 mg/L
- Significant contained lithium and LCE
Negative factors
- Inferred resource category implies lower geological confidence
Evidence · table
“1,779”
Context: LCE
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · lithiumGrade: 626Grade Unit: mg/LContained Metal: 66Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- lithium
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:908d956a41413a65d5e2
- Deposit or zone
- Middle Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Grade
- 626
- Grade Unit
- mg/L
- Contained Metal
- 66
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The Inferred Mineral Resource for Middle Smackover lithium shows a very high concentration but is based on limited data from a single well, leading to lower confidence.
Positive factors
- Very high average lithium concentration of 626 mg/L
Negative factors
- Inferred resource category implies lower geological confidence
- Concentration based on a single exploration well, limiting confidence
Evidence · table
“349”
Context: LCE
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · lithiumGrade: 572Grade Unit: mg/LContained Metal: 400Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- lithium
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:8f1f3d15dfd521fd65fa
- Deposit or zone
- Total Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Grade
- 572
- Grade Unit
- mg/L
- Contained Metal
- 400
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The total Smackover lithium resource shows a substantial increase in size and contained metal, providing a strong overall resource base, though it is primarily in the Inferred category.
Positive factors
- Significant increase in total resource size
- High average lithium concentration of 572 mg/L
- Large total contained lithium and LCE
Negative factors
- Total resource is predominantly Inferred, implying lower confidence
Evidence · table
“2,128”
Context: LCE
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The total resource is classified as Inferred, indicating lower geological confidence for the overall estimate.
Evidence · table
“Inferred”
Context: Resource Category
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: The total resource size has significantly increased compared to the Maiden Inferred Resource Report.
Evidence · text
“This represents a significant increase in total resource size.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedFranklin Project · bromideGrade: 4483Grade Unit: mg/LContained Metal: 2655Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- bromide
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:2773541dfcb4c4f1c705
- Deposit or zone
- Upper Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Grade
- 4483
- Grade Unit
- mg/L
- Contained Metal
- 2655
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The Indicated Mineral Resource for Upper Smackover bromide provides a high-confidence estimate for a potential byproduct, adding to the project's overall value.
Positive factors
- Indicated resource category for bromide
- High average bromide concentration of 4,483 mg/L
- Significant contained bromide
Evidence · table
“2,655”
Context: Contained Bromide
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating a reasonable level of geological confidence.
Evidence · table
“Indicated”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · bromideGrade: 4483Grade Unit: mg/LContained Metal: 2666Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- bromide
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:e15df52a32ff9ec0a9e9
- Deposit or zone
- Upper Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Grade
- 4483
- Grade Unit
- mg/L
- Contained Metal
- 2666
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The Inferred Mineral Resource for Upper Smackover bromide adds to the overall contained metal, but its lower confidence category makes it more speculative.
Positive factors
- High average bromide concentration of 4,483 mg/L
- Significant contained bromide
Negative factors
- Inferred resource category implies lower geological confidence
Evidence · table
“2,666”
Context: Contained Bromide
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · bromideGrade: 4600Grade Unit: mg/LContained Metal: 482Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- bromide
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:908d956a41413a65d5e2
- Deposit or zone
- Middle Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Grade
- 4600
- Grade Unit
- mg/L
- Contained Metal
- 482
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The Inferred Mineral Resource for Middle Smackover bromide contributes to the overall contained metal, but its lower confidence category makes it more speculative.
Positive factors
- High average bromide concentration of 4,600 mg/L
- Contained bromide adds to potential byproduct value
Negative factors
- Inferred resource category implies lower geological confidence
Evidence · table
“482”
Context: Contained Bromide
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · bromideGrade: 4501Grade Unit: mg/LContained Metal: 3148Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- bromide
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:8f1f3d15dfd521fd65fa
- Deposit or zone
- Total Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Grade
- 4501
- Grade Unit
- mg/L
- Contained Metal
- 3148
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The total Smackover bromide resource shows a substantial increase and upgrade, providing a large potential byproduct resource, though it is primarily in the Inferred category.
Positive factors
- Significant total contained bromide
- Increase and upgrade from prior estimate
- High average bromide concentration of 4,501 mg/L
Negative factors
- Total resource is predominantly Inferred, implying lower confidence
Evidence · table
“3,148”
Context: Contained Bromide
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The total resource is classified as Inferred, indicating lower geological confidence for the overall estimate.
Evidence · table
“Inferred”
Context: Resource Category
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: The bromide resource shows an increase and upgrade from the Maiden Inferred Resource Report.
Evidence · text
“an increase and upgrade from the MIRE.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · potassiumGrade: 11096Grade Unit: mg/LContained Metal: 6597Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- potassium
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:e15df52a32ff9ec0a9e9
- Deposit or zone
- Upper Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Grade
- 11096
- Grade Unit
- mg/L
- Contained Metal
- 6597
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The Inferred Mineral Resource for Upper Smackover potassium shows high concentration and contained metal, but its speculative nature and undeveloped recovery process limit confidence.
Positive factors
- High average potassium concentration of 11,096 mg/L
- Significant contained potassium
Negative factors
- Inferred resource category implies lower geological confidence
- Potassium recovery process still requires development
- No potassium resource in the Indicated category for this zone
Evidence · table
“11,096”
Context: Avg. Potassium Concentration
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · potashContained Metal: 12579Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- potash
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:e15df52a32ff9ec0a9e9
- Deposit or zone
- Upper Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 12579
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The Inferred Mineral Resource for Upper Smackover potash shows significant contained product, but its speculative nature and undeveloped recovery process limit confidence.
Positive factors
- Significant contained potash (Potassium Chloride)
Negative factors
- Inferred resource category implies lower geological confidence
- Potash recovery process still requires development
- No potash resource in the Indicated category for this zone
Evidence · table
“12,579”
Context: Contained Potassium Chloride (Potash)
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · potassiumGrade: 12400Grade Unit: mg/LContained Metal: 1299Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- potassium
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:908d956a41413a65d5e2
- Deposit or zone
- Middle Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Grade
- 12400
- Grade Unit
- mg/L
- Contained Metal
- 1299
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The Inferred Mineral Resource for Middle Smackover potassium shows a very high concentration, but its speculative nature and undeveloped recovery process limit confidence.
Positive factors
- Very high average potassium concentration of 12,400 mg/L
- Contained potassium adds to potential byproduct value
Negative factors
- Inferred resource category implies lower geological confidence
- Potassium recovery process still requires development
Evidence · table
“12,400”
Context: Avg. Potassium Concentration
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · potashContained Metal: 2477Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- potash
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:908d956a41413a65d5e2
- Deposit or zone
- Middle Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 2477
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The Inferred Mineral Resource for Middle Smackover potash shows contained product, but its speculative nature and undeveloped recovery process limit confidence.
Positive factors
- Contained potash adds to potential byproduct value
Negative factors
- Inferred resource category implies lower geological confidence
- Potash recovery process still requires development
Evidence · table
“2,477”
Context: Contained Potassium Chloride (Potash)
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · potassiumGrade: 11291Grade Unit: mg/LContained Metal: 7896Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- potassium
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:8f1f3d15dfd521fd65fa
- Deposit or zone
- Total Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Grade
- 11291
- Grade Unit
- mg/L
- Contained Metal
- 7896
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The total Smackover potassium resource shows a substantial contained metal, but its speculative nature and undeveloped recovery process limit confidence.
Positive factors
- High average potassium concentration of 11,291 mg/L
- Significant total contained potassium
Negative factors
- Total resource is predominantly Inferred, implying lower confidence
- Potassium recovery process still requires development
Evidence · table
“11,291”
Context: Avg. Potassium Concentration
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The total resource is classified as Inferred, indicating lower geological confidence for the overall estimate.
Evidence · table
“Inferred”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredFranklin Project · potashContained Metal: 15056Contained Unit: ktView all detailsHide details
Identity
- Project
- Franklin Project
- Commodity
- potash
- Region
- east texas, usa
- Reported Region
- East Texas, USA
- Ticker
- SLI
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-20T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Randal Brush, P.E.
- Resource group id
- resource:8f1f3d15dfd521fd65fa
- Deposit or zone
- Total Smackover
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 15056
- Contained Unit
- kt
- Cutoff Grade
- 100
- Cutoff Unit
- mg/L
Prior Estimate
- Resource Date
- 2026-07-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: The total Smackover potash resource shows a substantial contained product, but its speculative nature and undeveloped recovery process limit confidence.
Positive factors
- Significant total contained potash (Potassium Chloride)
Negative factors
- Total resource is predominantly Inferred, implying lower confidence
- Potash recovery process still requires development
Evidence · table
“15,056”
Context: Contained Potassium Chloride (Potash)
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The total resource is classified as Inferred, indicating lower geological confidence for the overall estimate.
Evidence · table
“Inferred”
Context: Resource Category
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Mineral Resources were prepared in accordance with CIM guidelines and reported in accordance with CIM Definition Standards, and the PEA is filed under NI 43-101.
Evidence · text
“Mineral Resources were prepared in accordance with 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, CIM Leading Practice Guidelines for Sedimentary Basin and Geothermal Brine-Hosted Lithium Mineral Resources and Mineral Reserves Estimation and are reported in accordance with CIM Definition Standards.”
Context: [2]
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Qualified Person for the Mineral Resource, Randal Brush, P.E., is named.
Evidence · text
“The Qualified Person for the Mineral Resource is Randal Brush, P.E., an employee of Haas & Cobb Petroleum Consultants.”
Context: [1]
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.