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Kidman Resources Ltd.
Summary
| Project: | Mt Holland | |
|---|---|---|
| Deposit: | Earl Grey | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 3/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 19-3-2018: Kidman Resources Ltd. announces a Resource Estimation report for its Earl Grey deposit at the Mt Holland project. Updated mineral resource estimate at Earl Grey deposit. Kidman Resources Limited (Kidman) (ASX: KDR) is pleased to announce a 54% | |
| Resources: | (Resource, Total): 189Mt @ 1.50% Li2O, 1.13% Fe2O3 for 2.840Mt Li2O contained | |
| CP/QP: | [Resources]: David Billington (Mining Plus Pty Ltd.) | |
| ABSTRACT: | Kidman Resources Limited (Kidman) (ASX: KDR) is pleased to announce a 54% increase in the combined Mineral Resource Estimate (MRE) for the Earl Grey Lithium Deposit (Earl Grey). Following a comprehensive 12-month Resource Definition and Exploration drill program, Earl Grey is now estimated to contain 189 million tonnes of 1.50% Li2O, or 7.03 million tonnes of Lithium Carbonate Equivalent (LCE). This is a high confidence estimate with 91% of the estimate classified as Measured and Indicated. As set out below, this result confirms Earl Grey’s position as one of the world’s most significant hard rock lithium deposits. Kidman is also pleased to advise that activity within the Western Australia Lithium joint venture (JV) with Sociedad Quimica y Minera de Chile (SQM) is progressing rapidly. Following JV committee meetings co-chaired by the CEO of Kidman and CEO of SQM in Chile on 14 March 2018, Kidman confirms that both parties remain committed to quickly advancing the project and that an announcement in relation to site selection for the proposed refinery is expected in the next quarter. Kidman’s Managing Director and CEO, Martin Donohue, commented: “Today’s announcement firmly positions Earl Grey as aTier-1 globally significant hard rock lithium deposit. Importantly, the expanded Exploration Target within Kidman’s highly strategic Forrestania landholding, where multiple pegmatite targets remain to be tested, provides continued upside.” | |
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