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Global Geoscience Ltd.

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Summary

Project:

Rhyolite-Ridge

Deposit:South Basin
Location:United States
Commodities:Lithium-Boron
Date:10/23/2018
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:23-10-2018: Global Geoscience Ltd. announces a Resource Estimation report for its South Basin deposit at the Rhyolite-Ridge project. Updated mineral resource estimate at the project. Tuesday, 23 October 2018 – Australian-based lithium-boron developer Glob
Resources:(Resource, I+I): 475.4Mt @ 1610ppm Li, 4100ppm B
CP/QP:[Resources]: Robert Dennis (RPM Advisory Services Pty Ltd.)
ABSTRACT:Tuesday, 23 October 2018 – Australian-based lithium-boron developer Global Geoscience Limited (“Global” or the “Company”) (ASX: GSC) is pleased to announce an updated Mineral Resource Estimate for its 100%-owned Rhyolite Ridge Lithium-Boron Project (“Rhyolite Ridge” or the “Project”) in Nevada, USA. The high-grade lithium-boron mineralisation is the focus of the Rhyolite Ridge Pre-Feasibility Study (”PFS”) as it represents potentially the highest value material combined with a low-cost, simple processing route. This is due to the low-clay and high-searlesite content of the rock, which make the mineralisation amenable to low-cost acid leaching The deposit is large, tabular, and moderately dipping. The defined dimensions are approximately 1,400 m x 2,500 m and are comprised of two ore zones approximately 20 m in thickness. The Resource remains open to the north, south and east and has significant potential to expand with further drilling of the South Basin. Not included in the Mineral Resource estimate is known lithiumboron mineralisation in the North Basin at Rhyolite Ridge. The Mineral Resource was updated with a revised geological interpretation as a result of an alternative development strategy for the Project. This estimate is an update to a Mineral Resource estimate completed in October 2017 for the South Basin deposit. Previously, the high-grade lithiumboron component of the Resource was estimated at 137 million tonnes at 1,800 ppm lithium (equivalent to 0.9% lithium carbonate) and 1.26% boron (equivalent to 7.2% boric acid), Boron is contained in the mineral searlesite (chemical formula NaBSi2O5(OH)2) and lithium is tentatively attributed to lithium fixed in the mineral sepiolite (chemical formula Mg4Si6O15(OH)2.6H2O).

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