Highlights from the latest high-grade results from Bandeira, include:
- Intercept highlights:
- 1.25% Li2O over 49.8m, incl. 1.46% Li2O over 27m; intersected from ~55m downhole (hole ITDD-23-213)
- 1.46% Li2O over 40m, incl. 2.02% Li2O over 6m, 1.83% Li2O over 7m and 3.38% Li2O over 5m; intersected from ~147m downhole (hole ITDD-24-259)
- 1.86% Li2O over 24.1m; intersected from ~180m downhole (hole ITDD-24-256)
- 2.13% Li2O over 20.4m, incl. 2.62% Li2O over 10.4m and 3.78% Li2O over 3.3m; intersected from ~175m downhole (hole ITDD-24-260)
- 2.03% Li2O over 18.6m; intersected from ~189m downhole (hole ITDD-24-257)
- 1.93% Li2O over 11.5m and 1.31% Li2O over 12.5m, incl. 2.04% Li2O over 6m (hole ITDD-24-262)
- Bandeira currently hosts a mineral resource estimate (“MRE”) of 41.93Mt, or 70% of the Company’s total global mineral resources of 60.1Mt*
- High-grade results from the seven holes, ITDD-24-256 to ITDD-24-262, were not included in the mineral resource estimate announced on
April 12, 2024
*See press release dated
Bandeira is a 175-hectare property, which represents only ~1% of its large 14,182-hectare land package. Bandeira currently hosts a NI 43-101 compliant mineral resource estimate (“MRE”) of 23.68Mt grading 1.34% Li2O (785kt LCE) in the Measured and Indicated category, in addition to 18.25Mt grading 1.37% Li2O (618kt LCE) in the Inferred category (See
A Preliminary Economic Assessment (“PEA”) based on a previous mineral resource estimate of ~29.5Mt, ~30% smaller than it is today, was completed in
The Company is rapidly advancing Bandeira towards a production decision. A Feasibility Study for Bandeira is currently being finalized by AtkinsRéalis (formerly SNC-Lavalin) and is expected for completion in
Table 1. Bandeira Drill Results
Hole ID | Az | Dip | From | To | Metres | Li2O (%) |
ITDD-23-159 | 150 | -50 | 287.50 | 289.55 | 2.05 | 1.28 |
and | 287.50 | 292.65 | 5.15 | 0.98 | ||
and | 350.16 | 353.08 | 2.92 | 0.89 | ||
and | 372.21 | 380.34 | 8.13 | 1.59 | ||
and | 425.97 | 437.60 | 11.63 | 1.40 | ||
and | 445.38 | 450.94 | 5.56 | 1.52 | ||
and | 457.04 | 458.75 | 1.71 | 1.72 | ||
and | 464.98 | 468.50 | 3.52 | 2.17 | ||
ITDD-23-191 | 150 | -60 | 53.51 | 58.65 | 5.14 | 1.71 |
ITDD-23-195 | 150 | -60 | 80.91 | 86.51 | 5.60 | 0.86 |
ITDD-23-197 | 150 | -60 | 77.08 | 80.44 | 3.36 | 0.95 |
and | 97.91 | 102.40 | 4.49 | 1.76 | ||
ITDD-23-209 | 0 | -90 | 41.61 | 51.61 | 10.00 | 1.21 |
Including | 41.61 | 45.61 | 4.00 | 1.56 | ||
ITDD-23-213 | 0 | -90 | 54.87 | 104.71 | 49.84 | 1.25 |
Including | 54.87 | 59.87 | 5.00 | 1.37 | ||
Including | 66.67 | 93.67 | 27.00 | 1.46 | ||
ITDD-23-246 | 330 | -50 | 45.70 | 50.70 | 5.00 | 1.17 |
ITDD-23-247 | 0 | -90 | 86.62 | 95.62 | 9.00 | 1.02 |
including | 86.62 | 89.62 | 3.00 | 1.62 | ||
ITDD-23-248 | 330 | -45 | 71.41 | 76.41 | 5.00 | 1.02 |
ITDD-23-249 | 330 | -85 | 122.10 | 124.10 | 2.00 | 0.56 |
ITDD-24-250 | 330 | -65 | 43.42 | 49.42 | 6.00 | 1.09 |
including | 43.42 | 47.42 | 4.00 | 1.26 | ||
ITDD-24-251 | 330 | -80 | 193.16 | 197.00 | 3.84 | 1.28 |
ITDD-24-252 | 330 | -50 | 94.07 | 100.07 | 6.00 | 1.25 |
ITDD-24-253 | 0 | 90 | 181.75 | 188.30 | 6.55 | 1.01 |
including | 181.75 | 184.63 | 2.88 | 1.39 | ||
ITDD-24-255 | 150 | -72 | 143.39 | 143.93 | 0.54 | 0.85 |
ITDD-24-254 | 0 | 90 | 90.69 | 94.04 | 3.35 | 0.77 |
and | 95.54 | 98.50 | 2.96 | 0.98 | ||
and | 125.73 | 132.87 | 7.14 | 1.33 | ||
ITDD-24-256 | 330 | -85 | 179.69 | 203.80 | 24.11 | 1.86 |
ITDD-24-257 | 330 | -85 | 189.17 | 207.78 | 18.61 | 2.03 |
ITDD-24-258 | 0 | -90 | 105.66 | 108.66 | 3.00 | 1.53 |
and | 116.44 | 122.44 | 6.00 | 1.34 | ||
ITDD-24-259 | 330 | -65 | 146.95 | 186.95 | 40.00 | 1.46 |
Including | 146.95 | 152.95 | 6.00 | 2.02 | ||
Including | 159.95 | 166.95 | 7.00 | 1.83 | ||
Including | 181.95 | 186.95 | 5.00 | 3.38 | ||
ITDD-24-260 | 330 | -65 | 175.05 | 195.44 | 20.39 | 2.13 |
Including | 177.05 | 180.30 | 3.25 | 3.78 | ||
Including | 185.05 | 195.44 | 10.39 | 2.62 | ||
ITDD-24-261 | 0 | -90 | 148.31 | 157.31 | 9.00 | 1.49 |
ITDD-24-262 | 330 | -80 | 220.00 | 231.45 | 11.45 | 1.93 |
and | 240.77 | 248.16 | 7.39 | 1.75 | ||
and | 255.00 | 267.48 | 12.48 | 1.31 | ||
including | 260.00 | 266.00 | 6.00 | 2.04 |
**No significant intersections in holes ITDD-23-201, ITDD-23-237 and ITDD-24-263
On behalf of the Board of Directors of
Chief Executive Officer, Director
About
Quality Assurance and Control
During the drill program, assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at
Qualified Persons
The technical information in this news release has been prepared by
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Source:
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