Spanish focused miner Plymouth Minerals Limited (ASX: PLH) has released an updated lithium-tin Mineral Resource for its the San Jose Lithium-Tin Project.
The upgrade follows the completion of a 970m diamond drilling programme to enhance the results of the Maiden JORC resource. The drilling and assay database for San Jose now comprises of 56 holes for approximately 12,120m of drilling including 5,196m of diamond drilling.
The revised JORC resource for San Jose is now:
The combined Indicated and Inferred Mineral Resource at a 0.10% Li cut-off is reported as; 112.0Mt @ 0.61% Li2O (lithium oxide) and 0.02% Sn (tin) The combined Indicated and Inferred Mineral Resource at a 0.35% Li cut-off is reported as; 25.2Mt @ 0.9% Li2O (lithium oxide) and 0.03% Sn (tin)
Plymouth Executive Chairman Adrian Byass said this has resulted in increased tonnage, grade and resource category confidence compared to the May 2017 JORC resource as reported at a 0.1% lithium cut-off.
San Jose is open along strike and at depth and is only constrained by drilling.
Mr Byass said the updated JORC Resource builds on a huge amount of work completed by the JV at San Jose in 2017.
“San Jose is a world class asset with lithium mineralisation that is amenable to a simple, open pit mining operation in part of Europe with excellent infrastructure. This resource is now of sufficient JORC confidence level to support the intended Feasibility Study,” Mr Byass said.
Plymouth and its 50/50 Spanish Joint Venture partner, Valoriza Mineria (VM), intend to produce battery grade lithium carbonate (LC) on site. VM is a subsidiary of +A$ billion market capitalisation, construction and engineering company Sacyr S.A. Europe’s only commercial lithium production is currently sourced from Spain and Portugal.
A positive Scoping Study, which refreshed a historic, pre-JORC Feasibility Study produced by Tolsa S.A. on San Jose was recently released.
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This Feasibility Study returned a positive result covering the production of lithium carbonate on site using open pit mining and the same proven process technology.
Plymouth is now highly advanced and very well placed to upgrade this study to a JORC Feasibility Study which can be completed by late 2018.
San Jose is an historic tin mine located approximately 4 km South East of Caceres and 300km West of Madrid in the Spanish province of Extremadura.
Lithium (Li) at San Jose is hosted in mica minerals with tin (Sn) hosted in associated quartz. The lithium micas at San Jose are hosted in a massive replacement style deposit, with cross-cutting tin-bearing quartz veins.