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Global Geoscience Ltd.
Summary
| Project: | Rhyolite-Ridge | |
|---|---|---|
| Deposit: | South Basin | |
| Location: | United States | |
| Commodities: | Lithium-Boron | |
| Date: | 8/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-8-2017: Global Geoscience Ltd. announces an Exploration/Drilling Update report for its South Basin deposit at the Rhyolite-Ridge project. Drilling results incl. 39.6m @ 1975ppm Li, 0.53% B from 68.6m. North Sydney, Australia, 16 August 2017 – Global Ge | |
| Resources: | (Resources, I+I): 393.3Mt @ 1640g/t Li, 1.2% LCE, 0.9% Li2CO3, 2.9% H2BO3, 1.7% K2SO4 | |
| CP/QP: | [Overall Report]: Bernard Rowe (Internal) | |
| ABSTRACT: | North Sydney, Australia, 16 August 2017 – Global Geoscience Limited (“Global” or the “Company”) (ASX: GSC) is pleased to announce initial results from the current drilling program at its 100%-owned Rhyolite Ridge Lithium-Boron Project (“Rhyolite Ridge” or the “Project”) in Nevada, USA. Global is advancing Rhyolite Ridge and a Pre-Feasibility Study (“PFS”) for the Project is well underway. The current 5,000m drilling program is designed to upgrade a portion of the current resource from Inferred to Indicated category. This drilling program will also test for extensions of shallow, high-grade lithium-boron mineralisation outside of the current resource, particularly to the south. “The confidence gained from this drilling program to upgrade and extend the resource is just one of many work streams underway that are integral to the forthcoming Rhyolite Ridge PFS,” commented Bernard Rowe, Managing Director of Global. “The initial results not only confirm thick zones of consistent, flat-lying lithium-boron mineralization at the Project, but that it extends beyond its current defined resource. Lithium-boron mineralisation is hosted within two sedimentary basins located four kilometres apart: South Basin (9 km2 ) and North Basin (20 km2 ). At South Basin, high-grade lithium-boron mineralisation occurs in 20m to 50m thick, sub-horizontal sedimentary layers. The upper-most layer is 20 to 30m thick and outcrops along the western margin of South Basin over a strike length of approximately 3km. Drilling at South Basin has defined an Indicated and Inferred Resource of 3.4 million tonnes of lithium carbonate and 11.3 million tonnes of boric acid (393Mt at 0.9% Li2CO3 and 2.9% H3BO3) making it one of the largest lithium and boron deposits in North America. The resource is open in most directions and is likely to increase in size with additional drilling. | |
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