Ioneer Ltd

Mineral Resource Increases By 168% To 3.4 Mt Lithium Carbonate Underscores Growth Potential For U.S. Supply Chain

Ioneer Ltd (“Ioneer” or “the Company”) (ASX: INR, Nasdaq: IONR) is pleased to announce an updated Mineral Resource estimate for the South Basin at the Rhyolite Ridge Lithium-Boron Project located in Nevada, USA. The effective date for the updated Mineral Resource estimate is March 31, 2023.


Highlights:

  • Rhyolite Ridge South Basin Mineral Resource of 360 Mt containing 3.4 Mt of lithium carbonate equivalent (168% increase) and 14.1 Mt of boric acid equivalent (18% increase) 1.
  • The Mineral Resource now includes both high-boron lithium mineralisation and low-boron lithium mineralisation. The previous Mineral Resource estimate only included high-boron lithium mineralisation.
  • Demonstrates optionality around future growth opportunities including increasing lithium production with or without increasing boron production.
  • The March 2023 Mineral Resource lies entirely within the project boundary currently being permitted under the Mine Plan of Operation.
  • All mineralised units remain open in three directions with approximately 60% of the South Basin remaining to be drilled, underscoring the potential for further increases in the Resource.
  • Rhyolite Ridge is ideally placed to play a pivotal role in the electrification of transportation in the U.S. In production, it will support the rapidly developing domestic lithium battery supply chain and lead innovation and sustainability in the production of materials critical to a clean energy future.
WSP USA Inc. (‘WSP’; formerly Golder Associates Inc.) estimated the March 2023 Mineral Resource and provided the previous (2020) Mineral Resource and Ore Reserve estimates for the Rhyolite Ridge Definitive Feasibility Study (‘DFS’)2 completed in April 2020.

The updated South Basin Mineral Resource estimate comprises:

  • Tonnage increase from 146.5 Mt to 360.0 Mt (up 145%)
  • Lithium carbonate equivalent (LCE) increase from 1.2 Mt to 3.4 Mt (up 168%)
  • Boric acid equivalent (BAE) increase from 11.9 Mt to 14.1 Mt (up 18%)
  • Cut-off grades unchanged at 1,090ppm Li and 5,000ppm B

Approximately 80% of the Mineral Resource is classified as Measured and Indicated. Approximately 44% of the Mineral Resource is classified as high-boron lithium mineralisation (HiB-Li) and 56% as low- boron lithium mineralisation (LoB-Li).


Click here for the full ASX Release

This article includes content from Ioneer Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Ioneer

Ioneer's expanded partnership with EcoPro to bolster U.S. lithium production

Highlights:

  • Binding lithium clay Research and Development Memorandum of Understanding signed with Korea's EcoPro Innovation Co. Ltd, a subsidiary of the EcoPro Group of Companies, will research, test, and develop lithium clay (M5) at Ioneer's Rhyolite Ridge site in rural Nevada.
  • The MOU provides an opportunity for Rhyolite Ridge to accelerate technical activities and the potential commercialisation of the 1MT (million tonnes) lithium carbonate equivalent (LCE) clay resource within the soon-to-be-permitted Rhyolite Ridge Lithium-Boron Project.
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News Provided by Business Wire via QuoteMedia

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