TSX-V-listed Desert Lion Energy has completed a maiden mineral resource estimate for its Namibian lithium project, the company announced on Friday.
The maiden mineral resource estimate comprised the Rubicon, Rubicon Slimes, Helikon 1, Helikon 2, Helikon 3, Helikon 4 and Helikon 5 deposits, and was based on assay and geological/mineralogical data generated from three phases of channel, pitting, diamond and reverse circulation drilling completed by the company since 2017.
The estimate was based on 264 holes, totalling 21 400 m of drilling, and 49 pits totalling 104 m, and 65 channel samples.
The results are expected to enhance and support robust economics owing to the project’s proximity to high-quality existing infrastructure and the low-cost operating environment in Namibia.
Highlights of the estimate include three-million tonnes at a grade of 0.63% lithium oxide (Li2O) in the indicated category at a 0.20% Li2O cut-off, and 5.8-million tonnes at a grade of 0.53% Li2O in the inferred category at a 0.20% Li2O cut-off.
The Rubicon deposit remains open down dip, with potential to delineate additional deposits within the mining and exploration licences, the company said.
With the positive results of the estimate, Desert Lion Energy intends to publish a preliminary economic assessment for the project before the end of this month.
"We are very pleased with the maiden mineral resource estimate as the results show the potential for the company to establish a significant pegmatite-hosted lepidolite lithium project.
“The project's at or near-surface mineralisation, proximity to high-quality existing infrastructure and the low-cost operating environment in Namibia provide significant advantages as we continue to develop the project towards completion of the preliminary economic assessment,” commented Desert Lion CEO Tim Johnston.