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Pilbara Minerals Ltd.
Summary
| Project: | Pilgangoora | |
|---|---|---|
| Deposit: | Pilgangoora | |
| Location: | Australia | |
| Commodities: | Tantalum-Lithium | |
| Date: | 5/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 29-5-2018: Pilbara Minerals Ltd. announces a Resource Estimation report for its Pilgangoora deposit at the Pilgangoora project. Updated mineral resources at the project. Australian lithium developer Pilbara Minerals Ltd (ASX: PLS) (“Pilbara”, “Pilbara Min | |
| Resources: | (Resource, Total): 213.3Mt @ 1.32% Li2O, 116ppm Ta2O5, 0.69% Fe2O3 | |
| CP/QP: | [Resources]: Lauritz Barnes, John Holmes (Trepanier Pty Ltd.;Internal) | |
| ABSTRACT: | Australian lithium developer Pilbara Minerals Ltd (ASX: PLS) (“Pilbara”, “Pilbara Minerals”, or “the Company”) is pleased to announce a further increase in the Mineral Resource at its flagship 100%-owned Pilgangoora LithiumTantalum Project in WA’s Pilbara region to 213 million tonnes, reinforcing its position as one of the world’s premier lithium development and growth projects. The updated Mineral Resource, which represents a 36% increase in total resource tonnage compared with the resource upgrade announced on 25 January 2017, now comprises a total of 213 million tonnes grading 1.32% Li2O (spodumene) and 116 ppm Ta2O5, containing 2.82 million tonnes of lithium oxide and 54.6 million pounds of Ta2O5. The new resource estimate provides further support to an already compelling business case for the construction and development of the Stage 2, 5Mtpa expansion which is targeted to begin shortly after the commencement of first concentrate and the initial ramp-up of spodumene concentrate production from the Stage 1, 2Mtpa operation. Pilbara Minerals’ Managing Director and CEO, Ken Brinsden, said the latest increase in what was already a significant resource inventory highlighted the outstanding nature of the deposit and the significance of Pilgangoora as a major new long-life source of lithium raw materials for global markets. “Another big jump in resource tonnes, a massive uplift in the Measured and Indicated Resource categories and a higher overall lithia grade are the key features of this latest Resource upgrade,” he said. “This reinforces the outstanding credentials of Pilgangoora – which is, by any measure, one of the most important lithium and tantalum resources globally. “With the project now just weeks away from the start of Stage 1 production, we could not be better placed to take full advantage of burgeoning demand for lithium raw materials – which keeps surprising to the upside. Our focus is now very much on the upcoming commissioning and ramp-up activities, which will ensure that the Company can make the all-important transition from developer to a globally significant new strategic metals supplier over the coming months. “With well over 150,000m of RC and diamond drilling completed on the project, Pilgangoora clearly has a sufficiently large resource inventory to underpin a world-class, expandable, low-cost mining operation for decades to come. I would like to take this opportunity to congratulate the Pilbara Minerals team for their hard work and dedication as they continue to deliver amazing results across the board.” | |
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