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Lepidico Ltd.
Summary
| Project: | Alvarroes | |
|---|---|---|
| Deposit: | Alvarroes | |
| Location: | Portugal | |
| Commodities: | Lithium | |
| Date: | 4/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-4-2019: Lepidico Ltd. announces a Resource Estimation report for its Alvarroes deposit at the Alvarroes project. Upgraded mineral resource estimate at the project. Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announce an updated Miner | |
| Resources: | (Resource, I+I): 3.90Mt @ 1.16% Li2O | |
| CP/QP: | [Resources]: John Graindorge (Snowden Mining Industry Consultants Pty Ltd.) | |
| ABSTRACT: | Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announce an updated Mineral Resource estimate (“MRE”) for the Alvarrões Lepidolite Project in Portugal. Global Mineral Resource tonnes have increased by 290% and contained lithium within the estimate has risen by approximately 210%, versus the December 2017 estimate. While the average grade has reduced as a result of the inclusion of mineralised halo material, the aggregate grade of the pegmatite mineralised units has risen modestly. The MRE was completed by Snowden Mining Industry Consultants Pty Ltd (“Snowden”) and is based on the infill and extensional resource diamond drilling program at Alvarrões completed in December 2018, which comprised 25 holes for 1,677 m of core (351 m PQ and 1326 m HQ)1 . The Mineral Resource estimate for Alvarrões is classified as a combination of Indicated and Inferred Resources for a combined total of 5.87 Mt @ 0.87% Li2O, reported above a 0.2% Li2O cut-off grade. The Mineral Resources have been classified and reported in accordance with the JORC Code (JORC Code Table 1 and summary appended). Mineralisation comprises lithium-bearing minerals within five pegmatite sills along with a 0.5 m mineralised halo within the granite host rock (Table 1). | |
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