Lithium miner Lepidico updates Karibib Project ore reserve to1.16Mt


The ASX-listed lithium miner Lepidico Ltd has updated its ore reserve estimate at its 80% owned Karibib Project in Namibia to a further 1.16 million tonnes (Mt) @ 0.62% lithium oxide (Li2O).

The Australian-based company is an innovative developer of sustainable lithium hydroxide and other critical minerals and the global leader in lithium mica processing.

Lepidico completed a series of work programs in 2022 at the Helikon 4 pegmatite and over-the-surface stockpiles at the historical Rubicon mine to enable the reclassification of Inferred Resources as Indicated Resources.

Of the 1.31M t grading 0.46% Li2O in Indicated Mineral Resource at Helikon 4, just over 62% of the tonnes fall within the current pit design and convert into Probable Ore Reserves. 

The company says it will start a resource development drilling program targeting down-dip extensions to the mineralisation and provide geotechnical data to expand the Indicated Resource base and increase conversion to probable reserves.

The program will also include infill and extensional drilling at Helikon 2-3, which hosts an Inferred Mineral Resource of 0.51M t grading 0.52% Li2O. 

Lepidico managing director Joe Walsh said the Helikon 2-4 line of mineralisation will now be drill tested for both continuities along the strike between the deposits and down dip to the south to extend the Phase 1 working life to well over 20 years. 

In addition, Walsh said, a new occurrence of lepidolite-bearing pegmatites was identified last quarter within exclusive prospecting licence 5439, with intermittent outcrop and historical workings extending over a 1.5 km strike. 

According to Walsh, site access is being arranged to drill this priority new target. 


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