JOHANNESBURG (miningweekly.com) – Having completed a successful exclusive due diligence investigation on the Ryholite Ridge lithium-boron project, in Nevada, the US, ASX-listed mineral exploration company Global has decided to acquire the project.
The due diligence confirmed that the project had long-life potential, as well as a low-cost source of lithium and boron.
Further, an aggressive exploration programme currently under way and focusing on the project’s mineral resource estimation and metallurgical testwork led the company to decide to commence with a prefeasibility study (PFS) within three to six months.
“With over 100 existing drill holes at two known lithium-boron deposits, the project provides the company with direct exposure to an advanced exploration project and presents the opportunity to to commence with a PFS in the near term,” said Global MD Bernard Rowe.
He added that, in addition to the exploration work already completed, Global was particularly excited by the opportunity to test the large area of high-grade surface mineralisation that had not been previously drill tested.
“We will be providing regular updates as we commence with an aggressive exploration programme and continue to assess the results of prior exploration,” said Rowe.
Ryholite Ridge owner Boundary Peak minerals noted that it was “delighted” to work with Global Geoscience to progress the project. “We firmly believe the project has the potential to provide a long-life source of lithium and boron and we are excited by Global’s commitment to rapidly advance exploration and processing studies at the project.