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Lepidico Ltd.
Summary
| Project: | Karibib | |
|---|---|---|
| Deposit: | Rubicon, Helikon 1 | |
| Location: | Namibia | |
| Commodities: | Lithium | |
| Date: | 10/31/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-10-2019: Lepidico Ltd. announces an Exploration/Drilling Update report for its Rubicon, Helikon 1 deposit at the Karibib project. Drilling results incl. 14.23m @ 1.27% Li2O from 44.93m. Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to rep | |
| Resources: | (Resource, I+I): 8.8Mt @ 0.56% Li2O | |
| CP/QP: | [Overall Report]: Tom Dukovcic, Mike Venter (Internal;Independent) | |
| ABSTRACT: | Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to report initial assay results from the recent 5,164 m infill diamond drilling program over the Rubicon and Helikon 1 lithium pegmatites, located within the Company’s 80% owned Karibib Lithium Project (“KLP”) in Namibia. Results have now been received for approximately 60% of holes drilled at Helikon 1 and 30% at Rubicon. The infill drilling program has so far been successful in further validating, defining and understanding the geology of these complexly zoned LCT-type (Lithium Caesium Tantalum) pegmatites. Of particular note, all of the lithium mineralised pegmatites identified within the KLP are lepidolite-bearing, while spodumene is either rare or absent. This phase of drilling is intended to increase data density and geological confidence to allow the estimation of Mineral Resources in the Measured and Indicated categories, and to enable the estimation of maiden Ore Reserves for both Rubicon and Helikon 1. A revised JORC Code (2102) compliant Mineral Resource estimate (“MRE”) is scheduled for completion by end November 2019. Mr. Joe Walsh, Managing Director of Lepidico said, “These initial results confirm the anticipated grades of the two dominant types of lithium mineralisation identified at Karibib, massive and disseminated lepidolite, and importantly provide greater resolution of the defined lepidolite zones at both Rubicon and Helikon 1. Our aggressive drilling program, initiated in July is clearly delivering the results we need to estimate a maiden Ore Reserve at Karibib, which will be integrated into the Phase 1 Project Feasibility Study, the key findings of which are due in March 2020.” | |
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