Lithium Australia Identifies Additional Lithium Sources at Ravensthorpe

Lithium Australia NL (ASX:LIT) announced the discovery of several additional lithium pegmatites at the Ravensthorpe Lithium Project. It is now established that there are at least 12 lithium pegmatites present and the potential economic significance of the project has increased substantially.
As quoted in the press release:

The Ravensthorpe project area contains the Cocanarup Lithium Pegmatites, located only a few kilometres to the south-west of the Mt Cattlin lithium mine (Figure 1) operated by Galaxy Resources Limited (ASX:GXY) and General Mining Corporation Limited (ASX:GMM).
 

Figure 1: Ravensthorpe Lithium Project, including prospect locations.

The project is well supported by established transport routes, nearby infrastructure and services at Ravensthorpe. The large, deep water port of Esperance is 185km east of Ravensthorpe.
Previous fieldwork led to definition of an exploration target* at the “Horseshoe prospect” of 900,000 tonnes of lithium mineralisation at a minimum grade of 1% Li₂O (with a size range from 525,00t to 1,281,000t and grade range of 0.8% – 1.2%).
*Exploration Target: The potential quantities and grades are conceptual in nature and there has been insufficient exploration to-date to define a Mineral Resource. It is not certain that further exploration will result in the determination of a Mineral Resource under the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, the JORC Code” (JORC 2012). The Exploration Target is not being reported as part of any Mineral Resource or Ore Reserve.

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