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Lepidico Ltd.
Summary
| Project: | Alvarroes | |
|---|---|---|
| Deposit: | Alvarroes | |
| Location: | Portugal | |
| Commodities: | Lithium | |
| Date: | 8/25/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 25-8-2017: Lepidico Ltd. announces an Exploration/Drilling Update report for its Alvarroes deposit at the Alvarroes project. Drilling results incl. 2.55m @ 1.76% Li2O from 44.45m. Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to advise that | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Tom Dukovcic (Internal) | |
| ABSTRACT: | Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to advise that further results from the diamond drilling program at Alvarrões, Portugal continue to demonstrate continuity of lepidolite-bearing pegmatite sills at the Block 1 area and have extended the mineralised zone further down dip. Drilling rates improved with the arrival of a second rig, with 17 holes now complete (ALVD01 – ALVD17) for a total advance of 1,042 metres. Hole ALVD18 is in progress (Figure 1; Table 2). Continuity of mineralisation at Block 1 has now been demonstrated over a sufficient area to establish Alvarrões as a primary feed-source of Li-mica for the Company’s proposed Phase 1 L- Max® Plant, planned to be built in Ontario, Canada and currently the subject of a Feasibility Study. Indications to date suggest that Block 1 has the potential to provide sufficient concentrate feed to a Phase 1 Plant for at least 10 years. Lithium results available to date for all lepidolite-bearing pegmatite intercepts are presented in Table 1. Full assay results are presented in Appendix 1. Lepidico Managing Director, Joe Walsh, said, “Drilling has now confirmed that Block 1 at Alvarrões has the potential to be a long life source of high-quality lithium mica feed the Lepidico’s Phase 1 L-Max® Plant Project. Block 1 is just part of a much larger mineralised system at Alvarrões that remains to be drill evaluated.” | |
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