Maricunga Lithium Brine Project 3.7 Fold Increase in Mineral Resource Estimate
Highlights
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- Major increase of high grade Measured, Indicated and Inferred resource to 2.15 Mt of lithium carbonate equivalent (LCE) and 5.7 Mt potassium chloride (KCl) to a depth of 200m
- 80% Measured and Indicated resource estimate for 1.72 Mt of LCE and 4.5 Mt of KCl with a 20% Inferred resource of 0.43 Mt of LCE and 1.2 Mt KCl
- High quality resource, with one of the highest average resource concentrations globally of 1,160 mg/l lithium and 8,500 mg/l potassium, with very favourable porosity and permeability which are essential for resource extraction
- Exploration target set of between 1Mt and 2.5Mt LCE
- Moderate magnesium/lithium ratio of 6.5, comparable to the Salar de Atacama, with a very low sulphate/lithium ratio of 0.8
- Process test work advancing, with preliminary engineering and design underway and a pre-feasibility study targeted for release in 4Q CY17
SYDNEY, Australia, July 12, 2017 (GLOBE NEWSWIRE) -- Lithium Power International Ltd. (ASX:LPI) (“the Company”) is pleased to provide a summary of the updated resource estimate from drilling at the Maricunga lithium brine project by the Maricunga Joint Venture.
A photo accompanying this release can be found at http://www.globenewswire.com/NewsRoom/AttachmentNg/133ccde0-871d-4af9-b2bb-f4d7d4a1e227
For a full version of the ASX announced Mineral Resource Estimate please visit the Company’s website http://www.lithiumpowerinternational.com/wp-content/uploads/2017/07/1690872-MAJOR-LITHIUM-RESOURCE-UPGRADE-AT-MARICUNGA.pdf
The Maricunga project is located in northern Chile, home to the largest and highest-grade lithium brine mines and source of the world’s lowest cost lithium production.
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). The 2016-17 program expanded the resource 270% through discovery of higher porosity sediments in the more recently acquired properties and below 150 m depth in the Litio 1-6 properties.
In addition to this resource, LPI has set an exploration target of between 1Mt and 2.5Mt LCE. The basis of this target was one deep drill hole as part of the exploration program which was drilled to 360 m. This hole encountered a continuation of the aquifers hosting lithium resources above 200 m.
CONATCT:
Andrew Phillips
Phone: +61 2 9276 1235
Email: info@lithiumpowerinternational.com