Compass Minerals International Inc 8-K, filed Sep 14, 2022

Compass Minerals International Inc (CMP)

8-K 2022-09-14 For: 2022-09-14

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Added on April 10, 2026

About this 8-K

Compass Minerals International Inc filed this 8-K on September 14, 2022.

Items reported

Item 7.01: Regulation FD disclosure
Item 8.01: Other events
Item 9.01: Financial statements and exhibits

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Delaware	001-31921	36-3972986
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)


Exhibit No.						Exhibit Description
23.1						Consent of Joseph Hava si, Qualified Person.
23.2						Consent of Susan Patton, Qualified Person.
96.1						Updated Technical Report Summary relating to lithium and LCE mineral resources at the Ogden facility, dated September 14 , 2022 .
99.1						Press Release issued by Compass Minerals International, Inc. on September 14, 2022.
99.2						Presentation issued by Compass Minerals International, Inc. on September 14, 2022.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).



	COMPASS MINERALS INTERNATIONAL, INC.

Date: September 14, 2022	By:	/s/ Lorin Crenshaw
		Name: Lorin Crenshaw
		Title: Chief Financial Officer


Date: September 14, 2022			/s/ Joseph Havasi
			Name: Joseph Havasi
			Title: Director, Natural Resources Compass Minerals International, Inc.


Date: September 14, 2022			/s/ Susan Patton
			Name: Susan Patton
			Title: Principal Consultant RESPEC


Compass Minerals International, Inc.
GSL Facility – Updated Lithium Resource Estimate - Technical Report Summary						ii


Table of Contents
List of Abbreviations		xii
1.0	Executive Summary	1
2.0	Introduction	9
2.1	Registrant	9
2.2	Terms of reference and purpose	9
2.3	Sources of information	10
2.4	Details of inspection	10
2.5	Report version	11
3.0	Property description	12
3.1	Mineral right	12
3.2	Property area	13
3.3	History of Title and Leases	17
3.4	Mineral rights	18
3.5	Encumbrances	21
3.6	Other Significant Factor and Risks	21
3.7	Royalties Held	21
4.0	Accessibility, Climate, Local Resources, Infrastructure, & Physiography	22
4.1	Topography, elevation, and vegetation	22
4.1.1	Vegetation	22
4.2	Accessibility	24
4.3	Climate and operating season	24
4.4	Infrastructure availability and sources	24
5.0	History	25
6.0	Geological Setting, Mineralization, and Deposit	26
6.1	Geologic description	26
6.1.1	Lake Level Fluctuations	32
6.1.2	System Recharge	34
6.2	Mineral Deposit Type	34
6.3	Stratigraphic Section	35
7.0	Exploration	37
7.1	Procedures – Exploration Other than Drilling	37
7.1.1	Great Salt Lake	37
7.1.2	Evaporation Pond Salt Mass	46
7.2	Exploration Drilling	48
7.2.1	Drilling Type and Extent	48
7.2.2	Drilling, Sampling, or Recovery Factors	53
7.2.3	Drilling Results and Interpretation	53
7.3	Hydrogeology	57
7.3.1	Relative Brine Release Capacity	57


7.3.2	Hydraulic Testing of Pond 96 and Pond 98 Halite Aquifer	59
7.3.3	Hydraulic Testing of the Pond 113 Halite Aquifer	60
7.3.4	Halite Aquifer Hydrogeology Summary	63
7.4	Characterization of Hydrology	64
7.5	Exploration – geotechnical data	66
7.6	Exploration plan map	66
7.7	Description of relevant exploration data	67
8.0	Sample Preparation, Analysis, and Security	68
8.1	Pond sampling	68
8.2	GSL Sampling	68
8.3	Sample Analyses	69
8.3.1	Blanks	69
8.3.2	Field Duplicates	72
8.4	Adequacy of Sample Preparation	76
8.5	Analytical Procedures	76
9.0	Data verification	77
9.1	Data Verification Procedures	77
9.2	Data Verification Procedures GSL	77
9.3	Data Verification Procedures Ponds	77
9.4	Conducting Verifications	78
9.5	Opinion of Adequacy	79
10.0	Mineral Processing and Metallurgical Testing	80
10.1	Nature and extent	80
10.2	Degree of Representation	81
10.3	Analytical and Testing Laboratories	81
10.4	Recovery Assumptions	81
10.5	Qualified Person’s Opinion	82
11.0	Mineral Resource Estimates	83
11.1	Great salt lake	83
11.1.1	Key Assumptions and Parameters	83
11.1.2	Data Validation	86
11.1.3	Resource Estimate	88
11.1.4	Cutoff Grade Estimate	92
11.1.5	Uncertainty	94
11.1.6	Resource Classification and Criteria	95
11.1.7	Mineral Resource Statement – Great Salt Lake	95
11.2	Evaporation Ponds	97
11.2.1	Key Assumptions, Parameters, and Methods Used	97
11.2.2	Resource Estimate – Pond 1b	97
11.2.3	Resource Estimate – Pond 96	100
11.2.4	Resource Estimate – Pond 97	103


11.2.5	Resource Estimate – Pond 98	106
11.2.6	Resource Estimate – Pond 113	109
11.2.7	Resource Estimate – Pond 114	113
11.2.8	Consolidated Pond Mineral Resources	117
11.3	Summary Mineral Resource Statement	118
11.3.1	Database	119
11.4	Uncertainty of Estimates	119
11.5	Multiple Commodity Grade Disclosure	120
11.6	Relevant Technical and Economic Factors	120
12.0	Mineral Reserve Estimates	121
12.1	Introduction	121
13.0	Mining Methods	122
13.1	Current Pond Process	122
13.1.1	West Ponds	122
13.1.2	East Ponds	127
13.2	Geotechnical and Hydrological Models	129
13.3	Production Details	130
13.4	Requirements for Stripping, Underground Development and Backfilling	131
13.4.1	Backfilling	131
13.5	Mining Equipment, Fleet and Personnel	131
13.6	Final Mine	132
14.0	Processing and Recovery Methods	135
14.1	Processing Overview	135
14.1.1	East and West Site Overview	136
14.2	Feed sources	137
14.3	Lithium Carbonate Conversion	137
14.4	Lithium Hydroxide Conversion	137
14.5	Energy Requirements	137
14.6	Water Requirements	138
14.7	Personnel	138
15.0	Infrastructure	139
15.1	Existing infrastructure	139
15.2	Planned infrastructure	144
15.3	West Pond Power System	144
15.3.1	Power Needs	144
15.3.2	Potential Power Sources	145
15.3.3	Power Supply Study	146
15.3.4	Power System Evaluation	147
15.4	West Ponds Fresh Water System	147
15.4.1	West Ponds Water Needs	147
15.4.2	Dove Creek Water System	148


15.5	West pond intake brine pumping	148
15.5.1	Existing Intake	148
15.5.2	Existing Pump Station Expansion	148
15.6	West Ponds and Conveyance	149
15.6.1	New Ponds	149
15.6.2	Existing Ponds Divider Dikes	149
15.6.3	Dikes and Canals	149
15.6.4	Earth Material Sources	150
15.7	West pond mineral return system	150
15.8	East pond interstital brine system and pumping	150
15.9	East pond mag chloride pumping	150
15.10	West pond interstitial brine system and pumping	150
16.0	Market Studies	158
16.1	General marketing information	158
16.1.1	Lithium Sources	158
16.1.2	Lithium Supply and Demand	158
16.1.3	Lithium Price	159
16.2	Material contracts required for production	160
17.0	Environmental, social, and Permitting	161
17.1	Results of environmental studies and baselines	161
17.2	Waste, tailings, and water plans – monitoring and management	161
17.3	Project permitting requirements	162
17.4	Air permit	163
17.4.1	Surface Water Effluent Discharge Permit	163
17.5	Plans negotiations or agreements (environmental)	163
17.6	Mine closure plans	163
17.7	Adequacy assessment of plans	164
17.8	Local hiring commitments	164
18.0	Capital and Operating Costs	165
18.1	Operating cost estimate	165
18.1.1	Summary	165
18.1.2	Basis of Operating cost estimates	166
18.1.2.1	Labor Cost	166
18.1.2.2	Natural Gas Cost	166
18.1.2.3	Power Cost	166
18.1.2.4	Reagents	166
18.1.2.5	Maintenance Supplies and Materials	167
18.1.2.6	Operations Supplies	167
18.1.3	East Plant Operating Costs	167
18.1.4	West Plant Operating Costs	167
18.2	Capital Cost Estimate	168


18.2.1	Objective & Summary	168
18.2.2	Estimating Methodology	169
18.2.3	Accuracy	170
19.0	Economic Analysis	171
19.1	Cautionary Statement	171
19.2	Methodology Used	172
19.3	Financial Model Parameters	172
19.3.1	Mineral Resource, Mineral Reserve, and Operational Life	173
19.3.2	Lithium Price	173
19.3.3	Operating Costs	173
19.3.4	Capital Costs	173
19.3.5	Working Capital	174
19.3.6	Taxes	174
19.3.7	Depletion, Depreciation and Amortization	174
19.3.8	Closure Costs	174
19.3.9	Financing	174
19.4	Economic analysis	174
19.5	Cash Flows	175
19.6	Sensitivity analysis	177
20.0	Adjacent Properties	179
21.0	Other Relevant Data and Information	182
22.0	Interpretation and Conclusions	183
22.1	Mineral resource	183
22.2	Assumptions, Risks and Uncertainties	183
22.3	Financials	184
23.0	Recommendations	185
23.1	Recommended work programs	185
23.2	Recommended work program costs	185
24.0	References	186
25.0	Reliance on information provided by registrant	187
26.0	Date and signature page	188


List of Tables
Table 1.1: Lithium Mineral Resource Statement for GSL Facility, Compass Minerals as of June 1, 2021						7
Table 2.1: Site Visits						11
Table 3.1: Land Tenure - (Fee-Owned Land)						14
Table 3.2: Land Tenure - (Lakebed and Upland Pond Leases)						16
Table 3.3: Non-Solar Leases/Easements						16
Table 3.4: Inactive Leases/Easements						16
Table 3.5: GSL Water Rights						19
Table 7.1: UGS Sampling locations						43
Table 7.2: Summary of Compass Minerals Sampling Split by Location and Depth Classification						45
Table 7.3: Halite Thickness and Brine Chemistry from Seven Sample Locations in Pond 114						48
Table 7.4: Location and Number of Drillholes by Year						49
Table 7.5: Halite Thickness and Brine Chemistry from Locations in Pond 1b						54
Table 7.6: Halite Thickness and Brine Chemistry from Locations in Pond 96						54
Table 7.7: Halite Thickness and Brine Chemistry from Locations in Pond 97						54
Table 7.8: Halite Thickness and Brine Chemistry from Locations in Pond 98						55
Table 7.9: Halite Thickness and Brine Chemistry from Locations in Pond 113						55
Table 7.10: RBRC Test Data for Pond 96 and Pond 98 Halite Aquifer Sediments						57
Table 7.11: RBRC Test Statistics for Pond 96 and Pond 98						57
Table 7.12: RBRC Test Data for Pond 113 and Pond 114 Halite Aquifer Sediments						58
Table 7.13: RBRC Test Statistics for Pond 113 and Pond 114						58
Table 7.14: Summary of 2018 Single Well Pumping Tests						60
Table 7.15: Summary of 2018 Single Well Pumping Tests						63
Table 7.16: Inflows to the GSL						65
Table 8.1: Summary of laboratories used by UGS during historical sampling programs						69
Table 8.2: Blank submissions to Brooks Applied Labs for Compass Minerals GSL submissions						70
Table 8.3: Duplicate submissions to Brooks Applied Labs for Compass Minerals GSL submissions						73
Table 11.1: Great Salt Lake Lithium Mass Load Statistics						91
Table 11.2: Great Salt Lake Lithium Resource Concentration at Varying Lake Elevation.						92
Table 11.3: Mineral Resource Statement for Great Salt Lake Lithium, Compass Minerals June 1, 2021						96
Table 11.4: Tabulation of Lithium Resources by Polygon, and Totals, for Pond 1b						99
Table 11.5: Inferred Mineral Resources, Pond 1b						99


Compass Minerals International, Inc.
GSL Facility – Updated Lithium Resource Estimate - Technical Report Summary						viii


Table 11.6: Tabulation of Lithium Resources by Polygon, and Totals, for Pond 96						102
Table 11.7: Indicated Mineral Resources, Pond 96						102
Table 11.8: Tabulation of Lithium Resources by Polygon, and Totals, for Pond 97						105
Table 11.9: Inferred Mineral Resources, Pond 97						105
Table 11.10: Tabulation of Lithium Resources by Polygon, and Totals, for Pond 98						108
Table 11.11: Indicated Mineral Resources, Pond 98						108
Table 11.12: Tabulation of Lithium Resources by Polygon, and Totals, for Pond 113						111
Table 11.13: Indicated Mineral Resources, Pond 113						112
Table 11.14: Tabulation of Lithium Resources by Polygon, and Totals, for Pond 114						116
Table 11.15: Inferred Mineral Resources, Pond 114						116
Table 11.16: Lithium Mineral Resource Statement for GSL Facility Ponds, Compass Minerals June 1, 2021						117
Table 11.17: Lithium Mineral Resource Statement for GSL Facility, Compass Minerals June 1, 2021						118
Table 13.1: Equipment Utilized in the Mining Method						132
Table 14.1: Summary of Projected Power Usage						137
Table 14.2: Summary of Projected Water Usage						138
Table 15.1: West Ponds Pump Station Power Needs						144
Table 15.2: Dove Creek Well Pumps						145
Table 15.3: West Ponds Power System Option Cost Summary						147
Table 18.1: Reagent Utilization / Costs: East Plant						166
Table 18.2: Reagent Utilization / Costs: West Plant						166
Table 18.3: Operating Cost Summary: East Plant						167
Table 18.4: Operating Cost Summary: West Plant						168
Table 18.5: Capital Cost Summary						169
Table 19.1: Model Inputs						172
Table 19.2: Annual Operating Costs						173
Table 19.3: Post-Tax Financial Results Summary						175
Table 19.4: Financial Results Summary						175
Table 19.5: Lithium Price, OPEX & CAPEX Sensitivity Analysis: East Plant						177
Table 19.6: Lithium Price, OPEX & CAPEX Sensitivity Analysis: West Plant						178
Table 23.1: Summary of Costs for Recommended Work						185


List of Figures
Figure 3.1: Location of Compass Minerals’ Ogden Facility within Northern Utah						13
Figure 3.2: Compass Minerals’ GSL Facility Detail						17
Figure 4.1: USGS 7.5 minute Topographic Quadrangle Map: Great Salt Lake						22
Figure 4.2: Wetlands and Protected Areas						23
Figure 6.1: Former Extent of Lake Bonneville, Relative to Current Remnant Lakes and Cities						27
Figure 6.2: Salinity in Bays of the GSL						29
Figure 6.3: Railroad Causeway Segregating the North and South Arms of the GSL						30
Figure 6.4: Inflows and Evaporative Outflows						31
Figure 6.5: Historic Lake Levels for the Great Salt Lake						32
Figure 6.6: Great Salt Lake Volume / Area Relationship						33
Figure 6.7: Relationship between North Arm GSL Level and Potassium Concentration						34
Figure 6.8: Geologic Cross Section within Evaporation Ponds at the GSL Facility						35
Figure 6.9: Relationship between GSL and Evaporation Ponds						36
Figure 7.1: Lake Elevation Data for the Great Salt Lake						38
Figure 7.2: Bathymetric Map of the South Arm of the Great Salt Lake						39
Figure 7.3: Bathymetric Map of the North Arm of the Great Salt Lake						40
Figure 7.4: Relationship between Lake Water Elevation and Total Volume of the Lake						41
Figure 7.5: UGS Brine Sample Locations in the Great Salt Lake						42
Figure 7.6: Great Salt Lake Lithium Concentration, UGS Sampling Data						44
Figure 7.7: Location of Pot-Hole Trenches within Pond 114						47
Figure 7.8: Sonic Drill Rig Operating on the Halite Salt Bed in Pond 113						49
Figure 7.9: Location of Sonic Drillholes Completed in Pond 1b in 2018						50
Figure 7.10: Location of Sonic Drillholes Completed in Pond 96, Pond 97, and Pond 98 in 2020						51
Figure 7.11: Location of Sonic Drillholes Completed in Pond 113 in 2018 and 2019						52
Figure 7.12: Sonic Drill Continuous Sample Showing Base of Salt and Transition to Sand at Bottom of Right Sample Sleeve						53
Figure 7.13: Histogram of RBRC Data; 18 Total Samples Analyzed by DBS&A						59
Figure 7.14: UGS Brine Sample Locations in the Great Salt Lake						67
Figure 8.1: Blank submissions to Brooks Applied Labs for Compass Minerals GSL submissions						71
Figure 8.2: Duplicate Submissions to Brooks Applied Labs for Compass Minerals GSL Submissions						75
Figure 11.1: North Arm Same Day Sample Data Comparison						87
Figure 11.2: South Arm Same Day Sample Data Comparison						88


List of Abbreviations
Abbreviation						Unit or Term
%						percent
~						approximately
°						degree
AMSL						Above mean sea level
Ac-ft						Acre-feet
cfs						Cubic feet per second
EA						Environmental Assessment
EIS						environmental impact statement or environmental impact study
FEL						Front-End Loading
ft						foot or feet
g						Gram
G&A						general and administrative
g/t						grams per ton
gpm						gallons per minute
GSL						Great Salt Lake
h or hr						hour(s)
koz						thousand ounces
kt						thousand tons
L/s						liters per second
lb						pound or pounds
MG						Million gallons
Mg/L						Milligrams per liter
min						minute
Mt						million tons
sec						second
SMU						selective mining unit
SRM						standard reference material
STM						short term modeling
t						tonne(s) (2,204.6 lb)
tpa						tonnes per annum
t/d						tons per day
t/h						tons per hour
t/y						tons per year
UGS						Utah Geological Survey
USGS						United States Geological Survey
US$						United States Dollar
y or yr						Year


Figure 11.3: Calculated Lithium Mass Loading, Individual Sites, Great Salt Lake North Arm						89
Figure 11.4: Calculated Lithium Mass Loading, Individual Sites, Great Salt Lake South Arm						89
Figure 11.5: Calculated Lithium Mass Loading, Combined Sites, Great Salt Lake North Arm						90
Figure 11.6: Calculated Lithium Mass Loading, Combined Sites, Great Salt Lake South Arm						90
Figure 11.7: Consolidated Lithium Mass Load Data						91
Figure 11.8: Voronoi Polygons utilized for Pond 1b Resource Estimation, Color Shaded to Show Distribution of Lithium Concentrations in Brine within the Halite Aquifer						98
Figure 11.9: Voronoi Polygons utilized for Pond 96 Resource Estimation, Color Shaded to Show Distribution of Lithium Concentrations in Brine within the Halite Aquifer						101
Figure 11.10: Voronoi Polygons utilized for Pond 97 Resource Estimation, Color Shaded to Show Distribution of Lithium Concentrations in Brine within the Halite Aquifer						104
Figure 11.11: Voronoi Polygons utilized for Pond 98 Resource Estimation, Color Shaded to Show Distribution of Lithium Concentrations in Brine within the Halite Aquifer						107
Figure 11.12: Pond 113 Voronoi Polygons Color Shaded to Show Spatial Distribution of Lithium Concentrations in Brine within the Halite Aquifer						110
Figure 11.13: Voronoi Polygons utilized for Pond 1b Resource Estimation, Color Shaded to Show Distribution of Lithium Concentrations in Brine within the Halite Aquifer						115
Figure 13.1: West Ponds Operation						124
Figure 13.2: West Ponds Interstitial Brine Operation						125
Figure 13.3: Conceptual Operational Schematic						126
Figure 13.4: PS-1/ Promontory Point / East Ponds						127
Figure 13.5: East Ponds						128
Figure 13.6: East Ponds IB and Lithium Operations						129
Figure 13.7: Production Schedule						131
Figure 13.8: Final Mine Map						133
Figure 13.9: Rip-Rap Cluster Islands at Mine Closure						134
Figure 14.1: Project Process Flow Diagram						136
Figure 15.1: Ogden Site Map						139
Figure 15.2: Key Infrastructure: SOP Plant Area and East Ponds						140
Figure 15.3: Key Infrastructure: West Ponds						141
Figure 15.4: Key Infrastructure: Rail Facilities						143
Figure 15.5: Existing Power Supply Sources						152
Figure 15.6: Power Supply Option Rocky Mountain Power						153
Figure 15.7: Power Supply Option NG Generation						154
Figure 15.8: West Ponds Proposed Infrastructure Overview						155
Figure 15.9: West Ponds Interstitial Brine (IB) Infrastructure						156


Figure 15.10: East Ponds Interstitial Brine (IB) Infrastructure						157
Figure 16.1: Lithium Supply / Demand Forecast						159
Figure 16.2: LCE Carbonate Price Estimates through 2040						160
Figure 16.3: LiOH Price Estimate through 2040						160
Figure 20.1: Leasable Areas of the GSL						180
Figure 20.2: Sovereign Land Classifications						181


Resource Area	Average Grade (mg/L)	Lithium Resource (tonnes)	LCE (tonnes)
Indicated Resources
Great Salt Lake North Arm	51	226,860	1,207,577
Great Salt Lake South Arm	25	208,711	1,110,970
Pond 96, Halite Aquifer	214	908	4,835
Pond 98, Halite Aquifer	221	868	4,623
Pond 113, Halite Aquifer	205	13,754	73,213
Total Indicated Resources	44	451,101	2,401,218
Pond 1b, Halite Aquifer	318	2,032	10,815
Pond 97, Halite Aquifer	212	674	3,589
Pond 114, Halite Aquifer	245	5,789	30,817
Total Inferred Resources	256	8,495	45,221


QP	Date(s) of Visit	Details of Inspection
Joe Havasi	August 2018 – September 2018	Drilled west pond 113 salt probes (SP-1 through SP-82)
Joe Havasi	September 7 – 10 2018	Drilled east pond 1B salt probes 1BSP-01 through 1BSP-13
Joe Havasi	November 2018 – December 2018	Conduct pump testing at select Pond 113 wells
Joe Havasi	July 15-17 2019	Drilled west pond113 salt probes SP-36 & 24, SP-83 through SP-89
Joe Havasi	March 2020	Excavated 7 test pits (114TP-01 through 114TP-07) in Pond 114
Joe Havasi	August 2020	Drilled 21 drillholes in Ponds 96, 97, and 98 and conducted pump testing
Joe Havasi	September 2020 - May 2021	Conducted six excursions in the GSL to collect ambient lake brine samples from RD-2, LVG4, and FB-2 sample locations.
Joe Havasi	July 2021 - August 2022	Mr. Havasi has conducted weekly visits to ponds and facilities at the Ogden Site, where his office is located.
Susan Patton	September 12, 2022	Ms. Patton visited the Ogden Site, including ponds, intake pumps, and existing production facilities.


Sample Location ID	Lake Arm	Longitude	Latitude	UTM Easting	UTM Northing
LVG-4	North	-112.7616	41.324	352571	4576225
RD-2	North	-112.7483	41.4415	353947	4589248
AS-2	South	-112.3249	40.8165	388265	4519236
AC-3	South	-112.4466	40.9999	378337	4539758
FB-2	South	-112.4608	41.1349	377394	4554765


Row Labels	Count	Average of Boron (mg/L)	Average of Calcium (mg/L)	Average of Potassium (mg/L)	Average of Lithium (mg/L)	Average of Magnesium (mg/L)
FB-2 Deep	6	34.9	314	4,642	37.8	7,293
FB-2 Deep Intermediate	6	28	306	3,908	30.7	6,102
FB-2 Deep Shallow	6	24.5	282	3,162	25.9	5,002
FB-2 Shallow	5	23.8	280	3,380	27.2	5,274
FB-2 Shallow Intermediate	6	25	275	3,442	27.6	5,347
LVG-4 Deep	6	45.9	398	7,870	58.6	11,877
LVG-4 Intermediate	6	46.2	355	7,475	56.8	11,448
LVG-4 Shallow	6	45.8	348	7,545	57	11,550
LVG-4 Surface	4	42.8	342	7,058	52.6	10,595
RD-2 Deep	6	47.7	349	7,305	55.2	11,073
RD-2 Intermediate	6	46.6	371	7,463	56.8	11,332
RD-2 Shallow	6	48.5	401	7,665	57.4	11,545
RD-2 Surface	1	48.4	266	7,380	51.6	9,920
Sub Total	70	38.5	335	5,934	45.4	9,058


Location ID	Halite Thickness (ft)	Sample Date	Li (mg/L)	K (mg/L)	Mg (mg/L)	Na (mg/L)	Ratio K : Li	Ratio Mg : Li
114TP01	8.0	3/3/2020	238	18400	41400	63300	77 : 1	174 : 1
114TP02	6.5	3/3/2020	328	26700	50100	51800	81 : 1	153 : 1
114TP03	6.5	3/3/2020	321	25300	50900	52600	79 : 1	159 : 1
114TP04	6.5	3/3/2020	279	23800	46100	52400	85 : 1	165 : 1
114TP05	5.5	3/3/2020	265	23100	43000	46700	87 : 1	162 : 1
114TP06	6.5	3/3/2020	125	12900	23400	89000	103 : 1	187 : 1
114TP07	6.5	3/3/2020	208	17400	38400	68000	84 : 1	185 : 1
Average			252	21100	41900	60500	84 : 1	166 : 1


Location	Number of Drillholes Completed			Total
	2018	2019	2020
Pond 1b	13	-	-	13
Pond 96	-	-	8	8
Pond 97	-	-	6	6
Pond 98	-	-	7	7
Pond 113	59	10	-	69
Total	72	10	21	103


Location ID	Halite Thickness (ft)	Sample Date	Li (mg/L)	K (mg/L)	Mg (mg/L)	Na (mg/L)	Ratio K : Li	Ratio Mg : Li
1BSP1	6.0	9/9/2018	245	19000	49000	13500	78 : 1	200 : 1
1BSP2	6.5	9/9/2018	361	20000	64500	15300	55 : 1	179 : 1
1BSP3	6.0	9/9/2018	310	23000	56500	22200	74 : 1	182 : 1
1BSP4	6.0	9/9/2018	300	19200	53900	13200	64 : 1	180 : 1
1BSP5	5.0	9/9/2018	272	20200	53100	15100	74 : 1	195 : 1
1BSP6	6.0	9/9/2018	363	22100	59300	18500	74 : 1	199 : 1
1BSP7	6.0	9/9/2018	401	21400	62600	15600	60 : 1	174 : 1
1BSP8	6.0	9/9/2018	359	27100	75300	20300	68 : 1	188 : 1
1BSP9	6.0	9/9/2018	298	19800	64800	15200	55 : 1	179 : 1
1BPS10	6.0	9/10/2018	273	20900	52800	17100	77 : 1	193 : 1
1BSP11	6.0	9/10/2018	326	18300	66200	15200	56 : 1	203 : 1
1BSP12	6.0	9/10/2018	335	19700	65300	15200	59 : 1	195 : 1
1BSP13	6.0	9/10/2018	292	20500	59000	19300	70 : 1	202 : 1
Average			318	20900	60200	16600	66 : 1	190 : 1


Location ID	Halite Thickness (ft)	Sample Date	Li (mg/L)	K (mg/L)	Mg (mg/L)	Na (mg/L)	Ratio K : Li	Ratio Mg : Li
96SP01	8.5		214	23200	39600	41700	108 : 1	185 : 1
96SP02	8.5		222	22900	40400	40600	103 : 1	182 : 1
96SP03	6.5		232	23700	44500	41800	102 : 1	192 : 1
96SP04	7.8		215	23400	43100	40700	109 : 1	200 : 1
96SP05	7.8		220	22600	42600	40400	103 : 1	194 : 1
96SP06	8.5		211	21700	39500	41700	103 : 1	187 : 1
96SP07	8.0		204	21900	39300	45600	107 : 1	193 : 1
96SP08	9.0		190	21800	37000	45800	115 : 1	195 : 1
Average			214	22650	40750	42288	106 : 1	191 : 1


SP34	12.0	9/3/2020	229	22600	45700	54500	99 : 1	200 : 1
SP35	9.0	8/30/2018	311	32700	60700	67800	105 : 1	195 : 1
SP36	11.0	8/30/2018	179	17900	38500	54200	100 : 1	215 : 1
SP37	8.5	9/2/2020	200	30000	46500	62300	150 : 1	233 : 1
SP38	12.0	9/2/2020	186	18000	38000	51400	97 : 1	204 : 1
SP39	9.0	9/2/2020	186	18000	38000	51400	97 : 1	204 : 1
SP40	9.0	9/3/2020	183	22700	44700	50400	124 : 1	244 : 1
SP41	10.0	9/3/2020	213	23800	43600	54800	112 : 1	205 : 1
SP42	9.5	9/3/2020	232	25500	48700	50400	110 : 1	210 : 1
SP43	10.0	9/3/2020	235	25300	45300	61800	108 : 1	193 : 1
SP45	9.0	8/30/2018	272	30700	55700	65500	113 : 1	205 : 1
SP46	9.5	8/31/2018	364	38700	77200	80300	106 : 1	212 : 1
SP47	9.5	8/31/2018	182	17800	40300	38600	98 : 1	221 : 1
SP48	11.0	8/31/2018	233	23900	47000	43900	103 : 1	202 : 1
SP49	11.0	8/31/2018	205	20200	41200	55700	99 : 1	201 : 1
SP50	12.0	9/1/2018	189	20800	36900	55600	110 : 1	195 : 1
SP51	13.0	9/3/2020	212	20900	42000	57200	99 : 1	198 : 1
SP58	8.0	8/30/2018	208	23500	48800	41900	113 : 1	235 : 1
SP59	8.5	8/31/2018	219	23300	51500	44600	106 : 1	235 : 1
SP60	9.5	8/31/2018	211	23400	46300	43600	111 : 1	219 : 1
SP66	10.0	8/30/2018	269	26400	56900	69200	98 : 1	212 : 1
SP67	8.0	8/29/2018	241	26000	53700	48500	108 : 1	223 : 1
SP73	7.5	8/30/2018	189	23200	44400	44600	123 : 1	233 : 1
SP74	8.0	8/29/2018	194	23000	43900	40800	119 : 1	226 : 1
SP75	8.0	8/29/2018	243	28600	56000	48300	118 : 1	230 : 1
SP76	9.0	8/29/2018	256	28000	54500	48600	109 : 1	213 :1
SP77	10.0	8/29/2018	207	24800	42100	41600	120 : 1	203 : 1
SP79	8.5	8/29/2018	280	34300	58800	60000	123 : 1	210 : 1
SP80	7.5	8/29/2018	242	31800	54500	62200	131 : 1	225 : 1
SP81	9.5	8/28/2018	182	21200	37100	72000	116 : 1	204 : 1
SP82	8.0	8/28/2018	172	22000	34300	61200	116 : 1	199 : 1
SP83	15.0	7/15/2019	218	17900	36700	64100	82 : 1	168 : 1
SP84	15.0	7/16/2019	288	22500	47800	74000	78 : 1	166 : 1
SP85	15.5	7/16/2019	243	20200	40700	59300	83 : 1	167 : 1
SP86	14.0	7/16/2019	229	19500	38400	58300	85 : 1	168 : 1
SP87	11.0	7/16/2019	210	18400	36100	61300	88 : 1	172 : 1
SP88	12.0	7/16/2019	208	19600	35800	63800	94 : 1	172 : 1
SP89	12.0	7/16/2019	215	18200	36500	65700	85 : 1	170 : 1
SP90	UNK	7/17/2019	256	22200	45200	46400	87 : 1	177 : 1


Pond	Sample Location	Saturated Volumetric Brine Content (% cm3/cm3)	Relative Brine Release Capacity (% cm3/cm3)
Pond 96	96SP02	41.7	28.5
	96SP06	38.0	31.2
	96SP05	37.5	31.3
Pond 98	98SP02	35.2	27.4
	98SP06	39.2	33.3


Location	Number of Samples	Saturated Volumetric Brine Content (% cm3/cm3)			Relative Brine Release Capacity (% cm3/cm3)
		Minimum	Maximum	Geomean	Minimum	Maximum	Geomean
Pond 113	3	37.5	41.7	39.0	28.5	31.3	30.3
Pond 114	2	35.2	39.2	37.2	27.4	33.3	30.2
All Samples	5	35.2	41.7	38.3	27.4	31.3	30.3


Location	Date	Pumping Duration (min)	Pumping Rate (gpm)	Maximum Drawdown (ft)	K (ft/d)	T (gpd/ft)	Sy	Comments
96SP02	8/20/2020	62	60	0.18	-	-	-	Minimal drawdown. Pump stop/starts. Difficult analysis.
96SP05	8/22/2020	93	60	2.99	226	16,870	0.5	Short pump stoppage early in pumping did not affect analysis of data.
98SP06	8/21/2020	110	60	1.11	722	54,076	0.5	Clean data for analysis.
Average					474	35,473	0.5


	Date	Sample / Depth	Brooks Applied Labs (mg/L)
			Boron	Calcium	Potassium	Lithium	Magnesium	Sodium
Field Blanks	4/2/2021	FieldBlank1	0.009	0.212	0.576	0.005	0.99	10.3
	4/2/2021	FieldBlank2	0.006	0.176	0.551	0.005	0.893	10.1
	4/2/2021	FieldBlank3	0.012	0.211	0.6	0.006	1.07	10.8
	4/18/2021	FieldBlank3	0.021	0.296	2.71	0.021	4.51	32.5
	5/9/2021	FieldBlank5	0.01	0.24	1.05	0.009	1.71	13.5
	5/9/2021	FieldBlank6	0.007	0.177	0.553	0.005	0.908	7.1


				Original						Duplicate
	Date	Sample / Depth	GSL Elevation	Boron	Calcium	Potassium	Lithium	Magnesium	Sodium	Boron	Calcium	Potassium	Lithium	Magnesium	Sodium
RD-2 Deep	5/9/2021	RD-2 14'	4,192.1	46.3	316	7,150	54.6	10,700	94,100	44.6	324	6,950	53.3	10,500	91,000
RD-2 Intermediate	4/18/2021	RD-2 9'	4,192.2	55.1	395	8,540	65.3	13,200	117,000	54.2	401	7,810	67.3	12,200	102,000
LVG-4 Deep	5/9/2021	LVG-4 15'	4,192.1	46.3	334	7,190	55.5	10,900	93,300	45.2	321	7,040	54.3	10,700	91,000
LVG-4 Intermediate	4/2/2021	LVG-4 10'	4,192.2	56.4	461	8,960	67.3	13,900	115,000	58.7	626	9,160	71.4	14,400	118,000
LVG-4 Intermediate	4/18/2021	LVG-4 10'	4,192.2	55.5	429	8,430	69.6	13,000	107,000	53	371	8,100	62.2	12,700	105,000
FB-2 Deep	5/9/2021	FB-2 22'	4,192.6	28.8	294	4,310	34.8	6,780	57,700	31.3	306	4,800	37.9	7,510	63,500

				48.1	371.5	7,430.0	57.9	11,413.3	97,350.0	47.8	391.5	7,310.0	57.7	11,335.0	95,083.3
										-0.5%	5.4%	-1.6%	-0.2%	-0.7%	-2.3%


Statistic	South Arm	North Arm

Mean	211,844	229,497
Standard Error	8,134	9,610
Relative Standard Error	4%	4%
Median	220,519	219,221
Standard Deviation	31,502	34,650
Relative Standard Deviation	14%	16%
Range	104,123	100,669
Minimum	154,301	177,750
Maximum	258,424	278,420
Count (Sample Dates)	15	13


Surface Elevation (ft)	S. Arm Volume (acre-feet)	S. Arm Concentration (mg/L Li)	N. Arm Volume (acre-feet)	N. Arm Concentration (mg/L Li)
4190	4,982,206	34	2,770,610	66
4191	5,354,231	32	2,994,695	61
4192	5,737,330	29	3,227,200	57
4193	6,131,058	28	3,468,716	53
4194	6,540,431	26	3,722,180	49
4195	7,024,900	24	3,990,369	46
4196	7,492,800	23	4,280,622	43
4197	8,000,900	21	4,592,312	40
4198	8,549,200	20	4,925,583	37
4199	9,137,800	19	5,280,252	35
4200	9,766,600	17	5,656,176	33


Class	Li Concentration (mg/l)	Li (tonnes)	Li as LCE (tonnes)	Mg/Li Ratio
North Arm
Measured	-	-	-	-
Indicated	51	226,860	1,207,577	238
M&I	51	226,860	1,207,577	238
South Arm
Measured	-	-	-	-
Indicated	25	208,711	1,110,970	247
M&I	25	208,711	1,110,970	247
Combined Great Salt Lake
Measured	-	-	-	-
Indicated	39	435,571	2,318,548	242
M&I	39	435,571	2,318,548	242


Polygon	Li (mg/L)	Salt Thickness (ft)	Area (ft2)	Volume (ft3)	Brine Volume (ft3)	Brine Volume (acre-ft)	Li Resource (tonnes)
1BSP1	245	6	13,548,203	81,289,219	26,093,839	599	181
1BSP2	361	6.5	11,466,926	74,535,018	23,925,741	549	245
1BSP3	310	6	11,883,323	71,299,939	22,887,280	525	201
1BSP4	300	6	7,259,402	43,556,412	13,981,608	321	119
1BSP5	272	5	8,663,131	43,315,655	13,904,325	319	107
1BSP6	363	6	9,225,596	55,353,576	17,768,498	408	182
1BSP7	401	6	11,029,428	66,176,569	21,242,679	488	241
1BSP8	359	6	8,752,812	52,516,874	16,857,916	387	172
1BSP9	298	6	15,171,183	91,027,097	29,219,698	671	247
1BSP10	273	6	5,824,250	34,945,499	11,217,505	258	87
1BSP11	326	6	2,779,218	16,675,310	5,352,775	123	49
1BSP12	335	6	4,458,213	26,749,276	8,586,518	197	82
1BSP13	292	6	7,462,413	44,774,478	14,372,608	330	119