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Lithium Power International Ltd.
Summary
| Project: | Maricunga | |
|---|---|---|
| Deposit: | Maricunga | |
| Location: | Chile | |
| Commodities: | Lithium-Potassium | |
| Date: | 7/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 12-7-2017: Lithium Power International Ltd. announces a Resource Estimation report for its Maricunga deposit at the Maricunga project. JV - Updated mineral resource estimate at Maricunga. Lithium Power International Limited (ASX: LPI) (“LPI” or “the Compa | |
| Resources: | (Resource, Total): 5.13km3 aquifer @79g/m3 Li, 577g/m3 K at project | |
| CP/QP: | [Resources]: Murray Brooker (Hydrominex Geoscience Pty Ltd.) | |
| ABSTRACT: | Lithium Power International Limited (ASX: LPI) (“LPI” or “the Company”) is pleased to provide details of the updated resource estimate from drilling at the Maricunga lithium brine project in northern Chile by the Maricunga Joint Venture (MJV). The Maricunga project (MJV) is located in northern Chile, home to the largest and highest-grade lithium brine mines in the “Lithium Triangle” (Figure 3) and source of the world’s lowest cost lithium production. Maricunga is regarded as one of the highest quality pre-production lithium brine projects globally. The Litio 1-6 properties in the Maricunga salar (salt lake) were subject to significant past exploration by our Joint Venture partners, who generated the historical 2012 Canadian NI43-101 resource estimate. The 2016-17 drilling program was undertaken to expand the resource on the existing Litio properties and those acquired since the 2012 resource estimate (Cocina, San Francisco, Despreciada and Salamina). This provides a new expanded mineral resource estimate for the combined property package in Table 1 below, reported in accordance with the JORC Code (2012) and estimated by a Competent Person as defined by the JORC Code. The 2016-17 program expanded the resource 3.7 fold through discovery of higher porosity sediments in the more recently acquired properties and below 150 m depth in the Litio 1-6 properties. The Measured and Indicated categories comprise 80% of the updated resource, with the Inferred category the remaining 20% of the total 2.15 Mt LCE resource defined to only 200m. One deep hole (S19) was drilled to 360 m. This hole encountered a continuation to depth of the aquifers hosting lithium resources above 200 m. | |
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