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Lepidico Ltd.
Summary
| Project: | Karibib | |
|---|---|---|
| Deposit: | Karibib | |
| Location: | Namibia | |
| Commodities: | Lithium | |
| Date: | 7/16/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-7-2019: Lepidico Ltd. announces a Resource Estimation report for its Karibib deposit at the Karibib project. JORC compliant mineral resource estimate for project. Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announced that a 4,700 met | |
| Resources: | (Resource): 3006.9Kt @ 0.63% Li2O (Ind.), 5830.4Kt @ 0.53% Li2O (Inf.) | |
| CP/QP: | [Resources]: Jeremy Witley (MSA Group Pty Ltd.) | |
| ABSTRACT: | Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announced that a 4,700 metre diamond drilling program has started at the Karibib Lithium Project in Namibia. The programme is planned to complete during the September 2019 quarter, allowing an updated Mineral Resource to be estimated during the December 2019 quarter. The previous NI43-101 Mineral Resource estimate has been confirmed with a JORC Code (2012)-compliant Mineral Resource estimate for the Karibib Lithium Project of 8.8Mt @ 0.56% Li2O (appended). Following engagement by Lepidico, Johannesburg-based independent mining industry consultants The MSA Group (“MSA”), reported a JORC Code (2012)-compliant Mineral Resource estimate (“MRE”) for the Karibib Lithium Project of 8.8Mt @ 0.56% Li2O, comprising Indicated Resources of 3.0 Mt @ 0.63% Li2O and Inferred Resources of 5.8Mt @ 0.53% Li2O at a 0.20% Li2O cut-off (Table 1). The MSA report, including JORC Code (2012) Table 1, is appended. As reported by Lepidico on 7 May 2019, the MRE had previously been reported by MSA in a Technical Report in accordance with the requirements of the Canadian National Instrument 43-101. The Karibib Lithium Project comprises four granted tenements (ML204, EPL5439, EPL555 and EPL5718) encompassing 1,054 km2 of the Karibib Pegmatite Belt in central Namibia, a major regional belt of LCT-type pegmatites (Figure 2). The project itself contains numerous highly fractionated LCT-type pegmatites in which the dominant Li-minerals are lepidolite and petalite, with minor amblygonite and spodumene. A number of the pegmatites have been exploited historically for beryl, tantalite and for petalite for use in the ceramics industry. The largest of these occur at the Rubicon and Helikon areas where previous exploration efforts were focused. | |
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