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Global Geoscience Ltd.
Summary
| Project: | Rhyolite-Ridge | |
|---|---|---|
| Deposit: | South Basin | |
| Location: | United States | |
| Commodities: | Lithium-Boron | |
| Date: | 8/31/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-8-2017: Global Geoscience Ltd. announces an Exploration/Drilling Update report for its South Basin deposit at the Rhyolite-Ridge project. Drilling results incl. 62.5m @ 2125ppm Li, 0.49% B from 19.8m. North Sydney, Australia, 31 August 2017 – Global Ge | |
| Resources: | (Resource, 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, 31 August 2017 – Global Geoscience Limited (“Global” or the “Company”) (ASX: GSC) is pleased to announce further strong assay results from the current drilling program at its 100%- owned Rhyolite Ridge Lithium-Boron Project (“Rhyolite Ridge” or the “Project”) in Nevada, USA. The current 5,000m drilling program is designed to upgrade and increase the current Indicated and Inferred Mineral Resource of 393 million tonnes at 1640ppm lithium (Li) and 0.51% boron (B), with a focus on the high-grade component (65 million tonnes at 1910ppm Li and 1.59% B). An updated Mineral Resource estimate is expected to be completed in September 2017 and will form an integral part of the Rhyolite Ridge Pre-Feasibility Study (“PFS”). “Recent drilling has intercepted further thick zones of consistent, flat-lying lithium-boron mineralisation at Rhyolite Ridge, “commented Bernard Rowe, Managing Director of Global. “Drilling has also extended near-surface lithium-boron mineralisation to the south of the current resource, confirming the potential for Rhyolite Ridge to become a major, long-life supplier of lithium and boron in America.” Global Geoscience’s (ASX: GSC) 100%-owned Rhyolite Ridge project is a large, shallow lithium-boron deposit located close to existing infrastructure in southern Nevada, USA. The project lies 25km west of Albermarle’s Silver Peak lithium mine and 340km from the Tesla Gigafactory near Reno. Rhyolite Ridge has the potential to become a strategic, long-life and low-cost source of lithium and boron. 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 | |
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