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Critical Elements Corporation (CVE:CRE) reports an update to the independent resource estimate for its Rose deposit, James Bay, Quebec.
The press release is quoted as saying:
The Rose deposit now consists of 26,500,000 tonnes of indicated resources containing 1.30% Li2O Equivalent (Eq) or 0.98% Li2O (259,700 tonnes of Li2O or 642,238 tonnes of Li2CO3 Eq), 163 ppm of Ta2O5 (9,514,317 pounds of Ta2O5) and 10,700,000 tonnes of inferred resources containing 1.14% Li2O Equivalent (Eq) or 0.86% Li2O (92,020 tonnes of Li2O or 227,565 tonnes of Li2CO3 Eq), 145 ppm Ta2O5 (3,417,400 pounds of Ta2O5). The resource was compiled using a cut-off grade of 41$/t for the open pit model and 66$/t for the underground model (taking Li and Ta recovery into consideration) based on the current estimation of the resource and market conditions. The NI-43-101 compliant technical report will be available on SEDAR within the next 45 calendar days.
Critical Elements’ President and CEO, Jean- Sébastien Lavallée says:
“With an indicated resource of 642,238 tonnes of lithium carbonate and 9,514,317 pounds “Conflict Free” of Ta2O5, Critical Elements have now the potential to become a major player at the global scale of supply of strategic elements. There is an excellent potential to increase the size of the deposit at Rose itself and at the nearby additional showings on the Rose property, considerably and quickly”
Click here to access the entire news release.
Click here to access Critical Elements’ company profile.(TSXV:CRE)