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Lepidico Ltd.
Summary
| Project: | Alvarroes | |
|---|---|---|
| Deposit: | Alvarroes | |
| Location: | Portugal | |
| Commodities: | Lithium | |
| Date: | 12/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-12-2017: Lepidico Ltd. announces a Resource Estimation report for its Alvarroes deposit at the Alvarroes project. Initial Mineral resource for the Alvarroes project. Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announce a maiden Minera | |
| Resources: | (Resource, Inf): 1.5Mt @ 1.1% Li2O at project | |
| CP/QP: | [Resources]: Dean Carville (AMC Consultants Pty Ltd.) | |
| ABSTRACT: | Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announce a maiden Mineral Resource estimate for the Alvarrões Lepidolite Project in Portugal, which hosts an extensive system of stacked lithium-mineralised pegmatite sills. The estimate was completed by AMC Consultants Pty Ltd (“AMC”) and was based on the results of 17 diamond core holes drilled at Alvarrões by Lepidico between May and September 2017. AMC reports a JORC Code-compliant maiden Inferred Resource at Alvarrões of 1.5 Mt @ 1.1% Li2O (JORC Code Table 1 and summary appended). Within this estimate is 1.1 Mt @ 1.1% Li2O over approximately 400 m of strike at Blocks 1 and 2 (Figure 1). As part of the Mineral Resource estimation program a preliminary mining study was undertaken for Alvarrões and the results integrated with the Phase 1 L-Max® Plant Project, which is currently the subject of a feasibility study. This work shows that Blocks 1 and 2 alone have the potential to provide feed to the planned Phase 1 L-Max® Plant for in excess of 10 years. The diamond drilling at Alvarrões has so far identified 13 stacked sub-horizontal mineralised pegmatite sills, confirmed to extend over a 900 m by 500 m area and ranging in thickness from 0.5 m to over 4.0 m, with 15% to 30% lepidolite content. The system remains open in all directions (Figure 1). The Mineral Resource estimate is based on the geological interpretation by Lepidico of just three of the identified pegmatite sills where continuity across the deposit was established by drilling, | |
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