Red Rock expects EIA for Zim lithium project to be finalised by February
London-listed Red Rock Resources reports that an environmental-impact assessment (EIA) is being prepared for its subsidiary African Lithium Resources' (ALR's) Tin Hill lithium project, in Zimbabwe.
The EIA is expected to be completed by early February and will be followed by site preparation for mineral extraction.
"Our local partners and staff at ALR have in the past brought small mineral deposits into test production in Zimbabwe, and this local knowledge complements our existing expertise as we accelerate progress on this project. We plan initially to exploit the top 10 m of the pegmatite, selectively mining for saleable grade as we build experience.
"ALR will be moving into small-scale trial production without having carried out extensive drilling or produced a full feasibility study. The purpose of such programmes is usually to protect the investment of considerable sums of capital, including that by third parties, by increasing, as far as possible, certainty with regard to the grade and extent of mineralisation," comments Red Rock chairperson Andrew Bell.
He points out that the mineralised structure at Tin Hill is simple, that the mineralisation is from surface, that the capital commitment is small and that Red Rock's investors have assessed the risks.
"Grade control will be key to getting the full benefit of the investment, but we will be working on the ground with our team.
"Our aim is to have, once again, a cash flow generative project in Red Rock, which will provide an internal source of funds as we move through what has become a difficult market for explorers, and so help to reduce our dependence on capital markets," Bell notes.
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