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Global Geoscience Ltd.
Summary
| Project: | Rhyolite-Ridge | |
|---|---|---|
| Deposit: | South Basin | |
| Location: | United States | |
| Commodities: | Lithium-Boron | |
| Date: | 10/5/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-10-2017: Global Geoscience Ltd. announces an Exploration/Drilling Update report for its South Basin deposit at the Rhyolite-Ridge project. Drilling results incl. 42.7m @ 1885ppm Li, 0.81% B from 103.6m. Thursday 5 October 2017 – Australian-based mineral | |
| Resources: | (Resources, I+I): 393Mt @ 1640ppm Li, 0.51% B | |
| CP/QP: | [Overall Report]: Bernard Rowe (Internal) | |
| ABSTRACT: | Thursday 5 October 2017 – Australian-based mineral explorer and developer Global Geoscience Limited (“Global” or the “Company”) (ASX: GSC) is pleased to announce final assay results from the recently completed drilling program at its 100%-owned Rhyolite Ridge Lithium-Boron Project (“Rhyolite Ridge” or the “Project”) in Nevada, USA. The drilling program was designed to upgrade and increase the currentIndicated and Inferred Mineral Resource of 393 million tonnes at 1640ppm lithium (Li) and 0.51% boron (B), with a focus on increasing the high-grade component (65 million tonnes at 1910ppm Li and 1.59% B). An updated Mineral Resource estimate is underway and is expected to be completed laterthis month. The updated Resource will form an integral part of the Rhyolite Ridge Pre-Feasibility Study (“PFS”). Global Geoscience Managing Director Bernard Rowe: “Global Geoscience is very encouraged by the latest results showing Rhyolite Ridge’s lithium-boron mineralisation has again been demonstrated to be thick and consistent. The drilling results are likely to increase the high-grade component of the soon to be updated Mineral Resource and come just one week after the Company raised $30 million through an institutional placement led by Citigroup Global Markets Australia Pty Limited. Robust drilling results and funding continue to support our confidence in the potential for Rhyolite Ridge to become a major, long-life supplier of lithium and boron.” | |
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