Notes from JORC RNS6 Sep 2018 15:48
• Referring to the current inferred status of the estimate, which was prepared by the consultants CSA Global, the announcement points out that “The level of data for the Ngoualana and Sogola-Baoule prospects could support an upgrade to Indicated status following completion of a field visit by the CSA Global resource geologist who is the Competent Person for the resource estimation” and that “An update of the Mineral Resource estimate is expected in the fourth quarter of 2018 following a site visit by the independent geologist and additional drill testing.”
• The company has also outlined its preliminary work on mining optimisation, which was undertaken as part of the planning of infill and extension drilling. At this point, the company envisages a 1mtpa open-pit mining operation producing “a good quality spodumene concentrate, with grade over 6% Li2O” through a dense media separation plant.
• Reflecting the current distribution of resources between the three prospect areas, it is intended that “Sogola-Baoule has potential to provide the most tonnage to any potential processing plant, while the Ngoualana prospect has significant potential to add higher-grade material into the processing blend.”
• Initial estimates suggest that costs could lie in the region of US$400/tonne of spodumene concentrate produced which “compares favourably with the current market price of approximately US$800 - 900 per tonne of concentrate.”
• The company will be continuing with further drilling, giving initial priority to the Boumou prospect area and extension to the mineralisation at Sogola-Baoule as well as the testing of new targets. Metallurgical testing will continue to investigate the optimal processing of the mineralisation and examine the most effective blend of the different source of mineralisation. Work continues to optimise the mining and to investigate the cost structures.
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