# Smackover Lithium Announces Positive Preliminary Economic Assessment for the Franklin Project, Its First Lithium Project in East Texas

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e

Original source: https://money.tmx.com/en/quote/SLI/news/6004472460680545/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra

Publisher: tmx

Original announcement: 2026-09-08T10:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- 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

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas 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 factor: Positive Preliminary Economic Assessment \(PEA\) results with robust economics

- Positive factor: Significant production capacity of up to 70,000 tpa lithium carbonate

- Positive factor: High after-tax IRR of 24.0% and short payback period of 3.1 years

- Positive factor: Upgraded and upsized Mineral Resource with conversion of Inferred to Indicated

- Positive factor: High lithium-in-brine concentrations reported

- Positive factor: Potential for additional value from bromine and potash commercial opportunities

- Negative factor: PEA is preliminary in nature and includes Inferred Mineral Resources

- Negative factor: No inflation or escalation factor applied in economic modelling

- Negative factor: Potash recovery process still requires development and is not included in current economics

- Negative factor: Middle Smackover lithium concentration based on single exploration well

Facts used in scoring: 15

## Classification and evidence

**Cut-off Disclosed**

Polarity: positive

Definition: 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 Update**

Polarity: neutral

Definition: 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)

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-1)

Franklin Project · lithium

#### 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 factor: Indicated resource category provides higher confidence

- Positive factor: High average lithium concentration of 562 mg/L

- Positive factor: Significant contained lithium and LCE

Evidence · table

> 1,771

Context: LCE

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-2)

Franklin Project · lithium

#### 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 factor: High average lithium concentration of 562 mg/L

- Positive factor: Significant contained lithium and LCE

- Negative factor: Inferred resource category implies lower geological confidence

Evidence · table

> 1,779

Context: LCE

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-3)

Franklin Project · lithium

#### 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 factor: Very high average lithium concentration of 626 mg/L

- Negative factor: Inferred resource category implies lower geological confidence

- Negative factor: Concentration based on a single exploration well, limiting confidence

Evidence · table

> 349

Context: LCE

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-4)

Franklin Project · lithium

#### 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 factor: Significant increase in total resource size

- Positive factor: High average lithium concentration of 572 mg/L

- Positive factor: Large total contained lithium and LCE

- Negative factor: Total resource is predominantly Inferred, implying lower confidence

Evidence · table

> 2,128

Context: LCE

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Growth**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-5)

Franklin Project · bromide

#### 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 factor: Indicated resource category for bromide

- Positive factor: High average bromide concentration of 4,483 mg/L

- Positive factor: Significant contained bromide

Evidence · table

> 2,655

Context: Contained Bromide

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-6)

Franklin Project · bromide

#### 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 factor: High average bromide concentration of 4,483 mg/L

- Positive factor: Significant contained bromide

- Negative factor: Inferred resource category implies lower geological confidence

Evidence · table

> 2,666

Context: Contained Bromide

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-7)

Franklin Project · bromide

#### 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 factor: High average bromide concentration of 4,600 mg/L

- Positive factor: Contained bromide adds to potential byproduct value

- Negative factor: Inferred resource category implies lower geological confidence

Evidence · table

> 482

Context: Contained Bromide

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-8)

Franklin Project · bromide

#### 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 factor: Significant total contained bromide

- Positive factor: Increase and upgrade from prior estimate

- Positive factor: High average bromide concentration of 4,501 mg/L

- Negative factor: Total resource is predominantly Inferred, implying lower confidence

Evidence · table

> 3,148

Context: Contained Bromide

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Growth**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-9)

Franklin Project · potassium

#### 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 factor: High average potassium concentration of 11,096 mg/L

- Positive factor: Significant contained potassium

- Negative factor: Inferred resource category implies lower geological confidence

- Negative factor: Potassium recovery process still requires development

- Negative factor: No potassium resource in the Indicated category for this zone

Evidence · table

> 11,096

Context: Avg. Potassium Concentration

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-10)

Franklin Project · potash

#### 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 factor: Significant contained potash \(Potassium Chloride\)

- Negative factor: Inferred resource category implies lower geological confidence

- Negative factor: Potash recovery process still requires development

- Negative factor: No potash resource in the Indicated category for this zone

Evidence · table

> 12,579

Context: Contained Potassium Chloride \(Potash\)

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-11)

Franklin Project · potassium

#### 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 factor: Very high average potassium concentration of 12,400 mg/L

- Positive factor: Contained potassium adds to potential byproduct value

- Negative factor: Inferred resource category implies lower geological confidence

- Negative factor: Potassium recovery process still requires development

Evidence · table

> 12,400

Context: Avg. Potassium Concentration

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-12)

Franklin Project · potash

#### 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 factor: Contained potash adds to potential byproduct value

- Negative factor: Inferred resource category implies lower geological confidence

- Negative factor: Potash recovery process still requires development

Evidence · table

> 2,477

Context: Contained Potassium Chloride \(Potash\)

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-13)

Franklin Project · potassium

#### 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 factor: High average potassium concentration of 11,291 mg/L

- Positive factor: Significant total contained potassium

- Negative factor: Total resource is predominantly Inferred, implying lower confidence

- Negative factor: Potassium recovery process still requires development

Evidence · table

> 11,291

Context: Avg. Potassium Concentration

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/smackover-lithium-announces-positive-preliminary-economic-assessment-for-the-fra--84ab7433-50e1-4cfa-988a-f9c83c58fc1e#fact-resource-facts-14)

Franklin Project · potash

#### 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 factor: Significant total contained potash \(Potassium Chloride\)

- Negative factor: Total resource is predominantly Inferred, implying lower confidence

- Negative factor: Potash recovery process still requires development

Evidence · table

> 15,056

Context: Contained Potassium Chloride \(Potash\)

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

**PFS-Supporting**

Polarity: neutral

Definition: 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-Supporting**

Polarity: neutral

Definition: 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.