For thousands of other reports visit RSC's Mineral Intellingence Map
Prospect Resources Ltd.
Summary
| Project: | Arcadia | |
|---|---|---|
| Deposit: | Arcadia | |
| Location: | Zimbabwe | |
| Commodities: | Lithium | |
| Date: | 10/31/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-10-2016: Prospect Resources Ltd. announces a Resource Estimation report for its Arcadia deposit at the Arcadia project. Declaration of Initial Mineral Resource. Prospect Resources (ASX:PSC) is pleased to report the maiden JORC 2012 Code reportable Mine | |
| Resources: | (Resource, Total): 36.39Mt @ 1.17% Li2O, 107ppm Ta2O5 for 425000t Li2O contained | |
| CP/QP: | [Resources]: Gayle Hanssen (Digital Mining Services Ltd.) | |
| ABSTRACT: | Prospect Resources (ASX:PSC) is pleased to report the maiden JORC 2012 Code reportable Mineral Resource estimate for the Arcadia Lithium Deposit in Zimbabwe. The estimated Mineral Resource at Arcadia is 36.4 Mt @ 1.17 % Li2O, for 425,000 tonnes of contained Li2O (Table 1). The Mineral Resource estimate also includes a large proportion of Measured, Indicated and Inferred Resources (fresh rock) at 31Mt grading @ 1.22% Li2O. This positions Arcadia as one of the more significant size hard rock lithium deposits globally, with the ability to significantly increase resources as the deposit remains open along strike and down dip. In response to this significant achievement by the Prospect team, Chairman, Hugh Warner had the following to say: “Prospect Resources is delighted to be in a position to report the maiden JORC 2012 Code reportable Mineral Resource estimate for the Arcadia deposit in Zimbabwe. Bear in mind the option agreement to purchase a majority interest (90%) in the project was only signed on the 25th May. Drill rigs were onsite by the 25th June and a maiden Mineral Resource has been produced by the 31st October. This is a significant achievement and is just reward for the company’s strategy of acquiring, developing and running profitable mines in the Southern African region.” The declaration of this Maiden Mineral Resource estimate at Arcadia establishes it as a significant lithium deposit globally. While the grade is not as high as initially expected from historical data, the close to surface, flat lying nature of the resource combined with the large tonnage makes this deposit a company maker for Prospect Resources. The Arcadia Project is further enhanced by the locality of the project, just 40 minutes’ drive on a hard surfaced bitumen road from the capital city Harare, with grid power on site, a local labour force skilled in mining and easy access to engineering, management and back up services. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report