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Pilbara Minerals Ltd.
Summary
| Project: | Pilgangoora | |
|---|---|---|
| Deposit: | Pilgangoora | |
| Location: | Australia | |
| Commodities: | Tantalum-Lithium | |
| Date: | 1/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 26-1-2017: Pilbara Minerals Ltd. announces a Resource Estimation report for its Pilgangoora deposit at the Pilgangoora project. Pilgangoora resource increased by 22% . Australian lithium developer Pilbara Minerals Ltd (ASX: PLS) is pleased to announce a f | |
| Resources: | (Resource, Total): 156.3Mt @ 1.25%Li2O, 128ppm Ta2O5 at project | |
| CP/QP: | [Resources]: Lauritz Barnes, John Young (Trepanier Pty Ltd.;Internal) | |
| ABSTRACT: | Australian lithium developer Pilbara Minerals Ltd (ASX: PLS) is pleased to announce a furtherincrease in the Mineral Resource at its flagship 100%-owned Pilgangoora Lithium-Tantalum Project in WA’s Pilbara region to 156 million tonnes, marking the culmination of its extensive resource drilling programs over the past two years and reinforcing its position as one of the world’s premier lithium development projects. The new resource estimate – which includes the results of successful drilling programs completed in the second half of 2016, as well as additions to the inventory following its recent acquisition of the adjoining Lynas Find Lithium Project – provides further evidence that Pilgangoora has the grade, scale and quality to underpin a low-cost, longlife mining centre for decades to come. The updated resource, which represents a 22 % increase in total resource tonnage compared with the resource upgrade announced on 11th July 2016, now comprises a total of 156.3 million tonnes grading 1.25% Li2O (spodumene) and 128ppm Ta2O5, containing 1.95 million tonnes of lithium oxide and 44.2 million pounds of Ta2O5. The Phase 3 RC in-fill and extensional drilling program was expanded due to the exploration success achieved tothe north and west of the proposed Central Pit. This expanded program included extensional drilling at the Monsterand the Southern prospects. Exploration drilling at the Far East prospect has resulted in the definition of a substantial new domain which has been included in the resource upgrade. The overall Mineral Resource at Pilgangoora now comprises 1.95 million tonnes of contained lithium oxide and 44.2 million pounds of contained tantalite. Using the benchmark Lithium Carbonate Equivalent (LCE) measure, the resource contains 4.83 million tonnes of LCE, underlining Pilgangoora’s status as a globally significant lithium project. | |
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