Drilling Underway at Rhyolite Ridge Lithium-Boron Project in Nevada
Sydney, June 30, 2017 AEST (ABN Newswire) - Global Geoscience Limited ("Global" or the "Company") (
ASX:GSC) is pleased to announce that drilling has commenced at the 100% owned Rhyolite Ridge Lithium-Boron Project in Nevada, USA. Global is advancing the Rhyolite Ridge project towards production and is currently working on a pre-feasibility study (PFS).
The 5000m drilling program is designed to upgrade the existing resource to Indicated Resource category as part of the PFS. The drill program will also test for extensions to shallow, high-grade lithium-boron mineralisation outside of the current resource.
Global's Managing Director, Bernard Rowe commented: "The drilling program is underway and we will be releasing results as they come to hand. Whilst the main aim of the program is to upgrade the resource for the purpose of the PFS, we will also be testing for extensions to the shallow high-grade lithium-boron mineralisation that occurs along the western-margin of South Basin. Additional tonnage of shallow, high-grade mineralisation gives us added optionality."
About Rhyolite Ridge Lithium-Boron Project
Global Geoscience's 100% owned Rhyolite Ridge project is a large, shallow lithium-boron deposit located in southern Nevada. Lithium-boron mineralisation is hosted within two sedimentary basins located four kilometres apart: South Basin (9 km2) and North Basin (20 km2). At South Basin, the focus of current work, high-grade lithium-boron mineralisation occurs in 20m to 50m thick, sub-horizontal sedimentary layers. The upper-most layer is 20 to 30m thick and outcrops along the western margin of South Basin over a strike length of approximately 3km.
Drilling at South Basin has defined an Indicated and Inferred Resource of 3.4 million tonnes of lithium carbonate and 11.3 million tonnes of boric acid, making it one of the largest lithium and boron deposits in North America. The Resource is open in most directions and is likely to increase in size with additional drilling. The deposit is amenable to simple acid leaching with low acid consumption. A simple and low-cost flow-sheet is proposed to produce lithium carbonate and boric acid on-site.
Rhyolite Ridge is located close to existing infrastructure and is 25km west of Albermarle's Silver Peak lithium mine and 340km by paved road from the Tesla Gigafactory. It has the potential to be a long-life, low-cost and reliable source of lithium and boron.
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About Global Geoscience Limited
Global Geoscience Limited (ASX:GSC) is a Sydney-based mineral exploration company specialising in greenfield exploration and mineral discovery. The Company's main focus is for copper, gold and silver on its mostly 100%-owned projects in Nevada and Arizona in the United States, and Peru in South America.
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