Global Geoscience Ltd reviews high grade lithium in Nevada
(MENAFN- ProactiveInvestors - Australia)
Global Geoscience Ltd (ASX:GSC) has completed the preliminary review of historical exploration data over the southern basin of its Rhyolite Ridge Lithium-Boron Project in Nevada, U.S.
The historical high-grade lithium intersections include 12 metres at 1.42% lithium carbonate equivalent (LCE) from 65 metres and 14 metres at 1.37% LCE from 55 metres.
Importantly, the data demonstrate the significant tonnage together with the potential for higher-grade zones of mineralisation within South Basin.
The historical data analysed by Global includes drilling undertaken in 2010-2011 by American Lithium Minerals Inc, in conjunction with Japan Oil, Gas and Metals National Corporation.
The drill-hole data is expected to provide sufficient information to calculate an initial JORC-compliant resource estimate.
Global anticipates completion of the maiden resource estimation in October 2016.
Upon completion of a resource estimate and subject to positive preliminary metallurgical test work, the company will commence a pre-feasibility study (PFS) to assess the economic potential of the project.
Global is fully funded to complete a PFS on the project, after raising $6 million last month via a share placement at $0.075 each.
Incidentally, the company has also estimated an exploration target for the North Basin of 1 to 1.5 billion tonnes at 1000 ppm to 2000 ppm lithium, 0.5% to 1.0% boron and 0.5% to 1.0% potassium.
Global";s share price has increased by more than 900% during the last six months, last trading at $0.062. <
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.