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Lepidico Ltd.
Summary
| Project: | Youanmi | |
|---|---|---|
| Deposit: | Youanmi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/8/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-1-2019: Lepidico Ltd. announces an Exploration/Drilling Update report for its Youanmi deposit at the Youanmi project. Drilling results incl. 12m @ 0.68% Li2O from 6m. Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to report assay results fr | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Tom Dukovcic (Internal) | |
| ABSTRACT: | Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to report assay results from the reverse circulation (“RC”) drilling program completed late in 2018 at the Youanmi Lepidolite Project in Western Australia. A preliminary review of the assay results confirms multiple lepidolite-bearing pegmatites at Youanmi with indications of stronger concentrations of lithium mineralisation than suggested by the geological logging, as reported on 20 December 20181 . Specifically, the Central Zone contains a complex cluster of over ten pegmatites ranging from 1 m to 7 m in width and averaging around 2 m in true thickness. Average grades over mineralised intercepts range from around 0.4% Li2O to 0.7% Li2O and often exceed 1.0% Li2O. At the Northern Zone, the results show the main “Target 1” pegmatite continues as a 3 m to 5 m thick body to at least 50 m depth in places. A follow-up RC drilling program comprising 38 holes (YVC039 - YVC076) for 811 m was implemented at the Youanmi Lepidolite Project in November 2018 to gain a better understanding and definition of the extent and geometry of the lithium pegmatites confirmed by the Company’s initial drilling campaign at the project in August 20182 . A total of 181 1m-samples were assayed for a broad suite of elements. Significant Li2O intercepts (nominally > 0.10% Li2O) are presented in Table 1. Drill hole survey data is presented in Table 2, while Appendix 1 includes selected (i.e., LCT-type pegmatite) elements for all the samples. Five holes (192 m, 44 samples) were drilled at the Northern Zone into the main Target 1 lepidolite pegmatite, which is confirmed to carry 10%-25% lepidolite over a 3 m to 5 m thickness with average grades of 0.7% Li2O (Table 1). | |
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