The most recent Mineral Resource estimate for Rhyolite Ridge was released on 31 October 2017 in the announcement titled “Global Geoscience Doubles High-Grade Lithium-Boron Mineral Resource”.
The total Indicated and Inferred Resource for the South Basin at Rhyolite Ridge is estimated to be (at a 1,050ppm lithium cut-off):
- 460 million tonnes at 0.9% lithium carbonate and 2.6% boric acid
- Containing 4.1 million tonnes of lithium carbonate and 11.9 million tonnes of boric acid
October 2017 Mineral Resource Estimate (1,050ppm Li Cut-off)
The high-grade portion of the Indicated and Inferred Resource totals 137 million tonnes at 0.9% lithium carbonate and 7.2% boric acid (at a 1,050ppm Li and 0.5% boron cut-off), with 75% in the Indicated category.
October 2017 Mineral Resource Estimate (1,050ppm Li and 0.5% B Cut-off)
The Mineral Resource is located on only part of the western side of the South Basin. The Resource remains open to the north, south and east and has significant potential to expand with further drilling of the South Basin.
The North Basin is known to also have significant amounts of lithium and boron. However, available data from the US Borax drilling of the North Basin in the 1980’s is not sufficient for estimating a resource. Global has drilled two holes in the North Basin and further drilling will be necessary to estimate an initial Mineral Resource for this large area.