London-listed Bacanora Lithium has grown the measured and indicated resource at its 50%-owned Zinnwald project, in southern Saxony, Germany, by 30% to 124 974 t of contained lithium.
The total resource estimate for the project, including measured, indicated and inferred, is now 142 240 t of contained lithium.
The resource estimate forms part of the feasibility study for a high-value lithium product operation at Zinnwald, with the study set to be completed in the second quarter of 2019.
To date, concentrator and roasting testwork and resource definition workstreams have been completed. The remaining feasibility study workstreams, including mine design, hydrometallurgical testwork and engineering design, are underway and proceeding on schedule.
CEO Peter Secker said in a media statement on Tuesday that the NI 43-101-compliant resource upgrade confirmed Zinnwald's status as one of the most advanced lithium projects in Europe.
“With a strategic location in the heart of the important German battery and automotive sectors, Zinnwald is ideally situated to become a major supplier of high-value lithium products to Europe's rapidly emerging electric vehicle and energy storage industries.”
Meanwhile, Bacanora remains in discussions regarding potential partners – both on a corporate and project level – to secure the remaining funds needed to build a lithium mine in Sonara, Mexico.
The Sonara feasibility study confirmed the economics of a 17 500 t/y Stage 1 operation to produce battery grade lithium carbonate.
“With Zinnwald targeting key European markets and Sonora, the large and important Asian market, Bacanora is on track to become the international lithium production company we set out to build,” Secker noted.