Hawkstone Mining Limited (ASX:HWK) has announced a maiden Mineral Resource Estimate for its Big Sandy sedimentary lithium project in Arizona.
Cube Consulting has estimated the total resources in Block A of the Northern Mineralised Zone at 32.5 Million tonnes grading 1,850 ppm Lithium (Li) containing 60,300 tonnes of lithium metal, which equals 320,800 tonnes Lithium Carbonate Equivalent (LCE). This includes a higher-grade zone of 12.7 Mt grading 2,360 ppm Li above a cut-off of 2,000 ppm Li for 159,500 tonnes LCE, representing 49% of the total contained LCE.
The release of the estimate follows the successful completion of the Phase 2 diamond drilling programme of 37 diamond holes for 2,881m, which was focused on Block A in the Northern Mineralised Zone.
Hawkstone Mining Managing Director, Paul Lloyd, said previous drilling results from the Phase 1 drilling programme in conjunction with the results of geological mapping and surface sampling identified the area as having significant potential.
The estimate of the maiden Resource is another significant step forward in establishing Hawkstone as an emerging lithium supplier, and forms part of an aggressive programme to move the project into pre-feasibility as quickly as possible,” Mr Lloyd said.
“In addition to the appointment of Dr David Deak as a consultant to the company and Barnaby Egerton-Warburton as Non-Executive Chairman, Hawkstone has also appointed a Phoenix-based engineer to commence an examination of the key development elements, leading to the commencement of a pre-feasibility study.
“The calculation of the maiden resource from a limited number of tightly spaced drill holes, comprising a mere 4% of the Big Sandy project area, highlights the size and potential of this world class lithium resource. The location in Arizona USA provides multiple development advantages, being strategically located near all major infrastructure and in close proximity to U.S. battery manufacturing facilities.
“In addition, a stage three drilling programme is planned for 2020 with the objective of converting the current reported Exploration Targets. This drilling will target Blocks B and C in the Northern Mineralised Zone as we continue to develop the Big Sandy Lithium Project.”