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Dakota Minerals Ltd.
Summary
| Project: | Lynas Find | |
|---|---|---|
| Deposit: | Lynas Find | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum-Iron | |
| Date: | 10/5/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-10-2016: Dakota Minerals Ltd. announces a Resource Estimation report for its Lynas Find deposit at the Lynas Find project. Initial mineral resource estimate for project. Dakota Minerals Limited (“Dakota”, “DKO”, or “Company”) is pleased to announce the | |
| Resources: | (Resource, I+I): 7.3Mt @ 1.25% Li2O, 85ppm Ta2O5, 0.99% Fe2O3 project total | |
| CP/QP: | [Resources]: Paul Blackney (Optiro Pty Ltd.) | |
| ABSTRACT: | Dakota Minerals Limited (“Dakota”, “DKO”, or “Company”) is pleased to announce the completion of the maiden Mineral Resource estimate for the Lynas Find Lithium Project, in the Pilgangoora district, Western Australia which has been compiled using the guidelines provided by the 2012 JORC Code. The Indicated and Inferred Mineral Resource for Lynas Find Central pegmatite has been calculated at 6.0Mt @ 1.33% Li2O, 85ppm Ta2O5 and 0.72% Fe2O3. Dakota’s exploration work confirms that Lynas Find represents a high grade portion of the Pilgangoora lithium trend. Additionally, the company believes the high-grade resource from surface, with high recoveries, indicates potential for a low cost, low strip lithium mine. Including surrounding pegmatites, the total resource has been calculated at 7.3Mt @ 1.25% Li2O, 85ppm Ta2O5 and 0.99% Fe2O3. The substantial and high-grade resource complements metallurgical test work undertaken earlier in the month, displaying high recoveries of over 90% Li2O using Heavy Liquid Separation (HLS)1. Having successfully proved up a resource of commercial potential, Dakota is well positioned to consider a number of options to exploit the value of the asset, including fast-tracking mining and production. Dakota Minerals CEO David Frances commented: “We are very pleased to have advanced Lynas Find from an early-stage exploration target in Q1 2016 to a high-quality, high-grade, lithium deposit today – this is testament to the Dakota team’s ability to consistently deliver on its promises.” “We will now look at all options to maximise shareholder value at Lynas as a first step towards our evolution as a globally significant lithium company focussed on the rapidly growing global battery industry.” | |
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