Shares of Standard Lithium (NYSEMKT: SLI) surged 10.9% early Monday after the lithium company announced high lithium brine grades from its latest drilling program. This isn't the first time Standard lithium has claimed to have found such high-grade lithium in its lithium wells.

Standard Lithium is an early-stage Lithium company with three projects in the exploration and development stage. The company doesn't mine Lithium directly but has developed a start-to-finish direct Lithium extraction (DLE) process that can extract Lithium from brine deposits to produce battery-grade Lithium chemicals. While a couple of Standard Lithium's flagship projects are located in the Smackover Formation in Arkansas, it has also identified high-potential brine resources in the Smackover Formation in East Texas.

Yesterday, Standard Lithium said it had drilled and sampled a new "highest-confirmed Lithium grade brine in North America" from a well at its East Texas exploration site, returning 663 ml/L (milligrams per liter). Earlier in the year, Standard Lithium found Lithium with a grade of 634 m/L in East Texas.

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Source Fool.com