Lepidico Limited Announces Maiden Mineral Resource Estimate for Alvarrões Lepidolite Lithium Project in Portugal
West Perth, WA / December 7, 2017 / JMN Wire / Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announce a maiden Mineral Resource estimate for the Alvarrões Lepidolite Project in Portugal, which hosts an extensive system of stacked lithium-mineralised pegmatite sills.
The estimate was completed by AMC Consultants Pty Ltd (“AMC”) and was based on the results of 17 diamond core holes drilled at Alvarrões by Lepidico between May and September 2017. AMC reports a JORC Code-compliant maiden Inferred Resource at Alvarrões of 1.5 Mt @ 1.1% Li2O (JORC Code Table 1 and summary appended). Within this estimate is 1.1 Mt @ 1.1% Li2O over approximately 400 m of strike at Blocks 1 and 2 (Figure 1).
- Inferred Mineral Resource estimate of 1.5 Mt @ 1.1% Li2O
- Potential to provide lithium-mica concentrate feed to the Phase 1 LMax ® Plant Project for in excess of 10 years from just Blocks 1 and 2
- Robust pegmatite system confirmed by drilling over 900 m along strike and 500 m down-dip; system remains open
- Potential to materially expand Mineral Resources and upgrade to Indicated category with follow-up drill program