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Lepidico Ltd.
Summary
| Project: | Karibib | |
|---|---|---|
| Deposit: | Karibib | |
| Location: | Namibia | |
| Commodities: | Lithium | |
| Date: | 5/28/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-5-2020: Lepidico Ltd. announces a Resource Estimation report for its Karibib deposit at the Karibib project. Updated Reserves for Karibib. The May 2020 Ore Reserves Estimate was prepared for Lepidico Limited by Australian Mine Design and D | |
| Resources: | (Reserves, P+P): 6.72Mt @ 0.46% Li2O | |
| CP/QP: | [Reserve] John Wyche (Australian Mine Design and Development Pty Ltd.) | |
| ABSTRACT: | The May 2020 Ore Reserves Estimate was prepared for Lepidico Limited by Australian Mine Design and Development Pty Ltd (AMDAD). It deals with the Mineral Resource for the Karibib deposit in Namibia as at 27th May 2020. It is the maiden Ore Reserves estimate for the project. The Ore Reserves are based on extraction by open pit mining. Ore will be beneficiated on site to produce a lithium rich concentrate consisting mainly of the lithium bearing mineral lepidolite. The lepidolite concentrate will be transported to the United Arab Emirates to be treated in Lepidico’s patented LOH-Max®, L-Max® and S-Max® processes to produce battery grade lithium hydroxide or lithium carbonate and saleable by-products including amorphous silica and sulphate of potash. The Feasibility Study for the chemical processing facility and the integrated Phase 1 Project inclusive of the Karibib Project was completed in May 2020. The Ore Reserves include pits on two deposits named Rubicon and Helikon 1 which are separated by approximately 6.5km. Small scale historical mining has been conducted on both deposits. The target mineral was mainly petalite which is associated with the lepidolite but tends to occur separately in the pegmatites leaving most of the lepidolite, which is the target mineral for the current project, in place. At Rubicon there is a shallow opencut with shallow underground workings mined off the highwall. At Helikon 1 there is a shallow opencut. | |
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