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Kidman Resources Ltd.
Summary
| Project: | Mt Holland | |
|---|---|---|
| Deposit: | Earl Grey | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 12/5/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-12-2016: Kidman Resources Ltd. announces a Resource Estimation report for its Earl Grey deposit at the Mt Holland project. Initial resource for the Earl Grey deposit. Kidman Resources Limited (ASX: KDR) (“Kidman” or the “Company”) is pleased to advise a | |
| Resources: | (Resource, I+I): 128Mt @ 1.44% Li2O for 1.84Mt Li2O contained at Earl Grey | |
| CP/QP: | [Resources]: David Billington (Mining Plus Consulting Pty Ltd.) | |
| ABSTRACT: | Kidman Resources Limited (ASX: KDR) (“Kidman” or the “Company”) is pleased to advise a maiden Mineral Resource estimate for its Earl Grey Lithium deposit of 128 million tonnes at 1.44% Li2O, containing 4.54Mt of Lithium Carbonate Equivalent (“LCE”). The Earl Grey deposit is the first lithium pegmatite drilled by Kidman within its larger Mt Holland Project in the Forrestania Greenstone Belt near Southern Cross in W.A, which is quickly evolving into a new lithium province. The Mineral Resource is based on an area measuring 1.4km by 900m, and has very significant growth potential yet to be fully explored based on high grade drill results outside of the resource boundary. Earl Grey has several qualities that lend the project to becoming a long-life, low cost open pit mining operation in the nearterm. Importantly, Kidman has intersected lithium-bearing pegmatite at high grades over substantial widths up to 600m immediately beyond the northern boundary of the current Resource, providing significant scope for future growth in resources as drilling continues to delineate the deposit. This underpins an additional Exploration Target of 75-100 million tonnes at 1.3-1.5 % Li2O. “The maiden resource has surpassed our early expectations, and is now without a doubt confirmed to be a very large and high grade lithium system, and this is just the tip of the iceberg for Earl Grey. We now have the foundations in place to establish Earl Grey as a major global lithium mine, and we also believe we can do this relatively quickly and at a low-cost. | |
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