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Tuesday, April 05, 2022 9:19:31 PM
December 21, 2018 | Source: ioneer Ltd
Initial assays have been received from the first nine holes showing:
Higher boron grades (circa 30%) than currently modelled for the area planned to be mined during the first few years; and
Extension to the south of shallow, high-grade lithium-boron mineralisation.
The Company released its Rhyolite Ridge Pre-Feasibility Study (PFS) on 23 October 2018. The PFS included a two-stage mine development – a starter pit covering the first seven years and an expanded pit covering a mine life of over 30 years.
A maiden Ore Reserve has been estimated for the first stage of mine development:
15.8 million tonnes at 1,900ppm lithium (equivalent to 1.0% lithium carbonate) and 12,200ppm boron (equivalent to 7.0% boric acid).
Containing the equivalent of 160,000 tonnes of lithium carbonate and 1.1 million tonnes of boric acid.
The Indicated Mineral Resource comprises 950,000 tonnes of lithium carbonate and 7.5 million tonnes of boric acid (inclusive of the Ore Reserve).
Managing Director of ioneer, Mr Bernard Rowe, commented:
“These drilling results extend and further confirm high-grade shallow mineralisation at the Rhyolite Ridge Lithium-Boron Project. The strong boron grades within and to the south of the proposed starter pit are likely to provide stronger cash flow in the early years of the Project.
https://www.globenewswire.com/news-release/2018/12/21/1677858/0/en/Rhyolite-Ridge-Drilling-Update-and-Maiden-Ore-Reserve.html
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