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Lepidico Ltd.
Summary
| Project: | Youanmi | |
|---|---|---|
| Deposit: | Youanmi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-12-2018: Lepidico Ltd. announces an Exploration/Drilling Update report for its Youanmi deposit at the Youanmi project. Drilling results incl. 4m @ 0.86% Li2O from 42m. Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to provide an update on | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Tom Dukovcic (Internal) | |
| ABSTRACT: | Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to provide an update on three drilling campaigns, two at Alvarrões in Portugal and one at Youanmi in Western Australia. In each case, positive results have been received with the identification of further lepidolitebearing pegmatites at Alvarrões and confirmation of continuity of mineralisation at Youanmi. Alvarrões Exploration Drilling An initial program of reverse circulation (“RC”) drilling was conducted approximately 350 metres east of the Alvarrões lepidolite mine area. This program has identified multiple subhorizontal lepidolite-bearing pegmatites including intercepts of 4 m @ 0.86% Li2O and 3 m @ 0.85% Li2O from what is provisionally designated as “Sill E.” Particularly encouraging is that each of the 14 holes intersected anomalous lithium mineralisation, as shown in Table 1. The program comprised 14 RC holes for a total of 929 metres (Table 2). In all, 254 samples of pegmatite and proximal granite wall rock were collected and submitted for assay. Positive initial indications have provided the confidence to extend the exploration drill program to explore the core area of Sill E with four diamond holes, to obtain more accurate data on position, thickness and mineralogy of the pegmatite sills. Alvarroes Resource Drilling On 7 December 20171 the Company announced a maiden JORC Code-compliant Inferred Mineral Resource at the Alvarrões Lepidolite Mine of 1.5 Mt @ 1.1% Li2O. A Resource infill diamond drilling program comprising approximately 25 holes for 1,600 m of HQ core over parts of the Block 1-2 and Block 3 areas of the mine is in the final stages of completion (Figure 1). | |
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