International Lithium announces maiden resources at Raleigh Lake
(Kitco News) - International Lithium (TSXV: ILC) today announced a maiden mineral resource estimate ("MRE") for the Raleigh Lake lithium project located in Ontario, Canada.
The company said that the project includes MREs for both lithium and rubidium, adding that the two MREs are closely related due to their spatial relationships, but their respective resource estimates are considered separate and unique.
According to a company statement, open pit and underground measured and indicated lithium resources amounted 6,824 tonnes of contained lithium at 0.64% Li2O grade, while inferred resources amounted to 10,499 tonnes of contained lithium at 0.58% Li2O grade.
The project’s open pit and underground measured and indicated rubidium resources amounted 822 tonnes of contained rubidium at 0.67% Rb2O grade, while inferred resources amounted to 521 tonnes of contained rubidium at 0.46% Rb2O grade.
Chairman and CEO John Wisbey commented, “We are very pleased to announce our maiden mineral resource estimate for the Raleigh Lake lithium deposit containing both open-pit and underground resources. As well as our primary focus on lithium, we are also highly encouraged by the amount of rubidium at the Raleigh Lake deposit and it is pleasing to note that separate high-grade rubidium pods have been discovered within the open-pit lithium resource, locally hosted within microcline-rich areas which are distinct from the lithium-rich areas of the pegmatites. This rubidium has therefore been reported as a separate resource. This presents an exciting opportunity.”
The company said it looks forward to a “busy year” as it advance to the next stage of study and anticipates releasing a preliminary economic assessment around the middle of 2023, based on this maiden mineral resource estimate.
International Lithium indicated that its primary strategic focus at this point is on the Raleigh Lake lithium and rubidium project in Canada and on identifying additional properties in Canada and Zimbabwe.