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Global Geoscience reveals maiden resource for lithium project in Nevada

Published: 13:30 14 Oct 2016 AEDT

Global Geoscience Ltd reveals maiden resource for lithium project in Nevada
Global Geoscience Ltd reveals maiden resource for lithium project in Nevada

The total indicated and inferred resource is 393 million tonnes at 0.9% lithium carbonate, 2.9% boric acid and 1.7% potassium sulphate (1.2% lithium carbonate equivalent).

This equates to 3.4 million tonnes of lithium carbonate contained within the resource.

The mineral resource remains open to the north, south and east and has a significant potential to expand.

North Basin, where the company recently obtained results for twenty historic drill holes, is not included in the resource estimate.

Global has the exclusive right to purchase the project from the owner, a private Nevada company.

Bernard Rowe, managing director, commented: “This is an excellent result for Global Geoscience and comes just four months after securing this exciting lithium project."
“The maiden Resource Estimate completed by RungePincockMinarco clearly demonstrates the significant scale of the Rhyolite Ridge lithium-boron deposit.”

“We are continuing to rapidly advance the project with metallurgical test work in progress and drilling at both North Basin and South Basin scheduled to commence in late October.”

The company’s share price has increased by 567% during the last six months, last trading at $0.06.

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