Ioneer Increases South Basin Mineral Resource at Rhyolite Ridge

THE DRILL SERGEANT: Ioneer (ASX: INR) reported an updated Mineral Resource estimate for the South Basin at the company’s Rhyolite Ridge lithium-boron project located in Nevada, USA.

The updated South Basin Mineral Resource estimate comprises:

• Tonnage increase from 146.5 million tonnes to 360 million tonnes (up 145%)
• Lithium carbonate equivalent (LCE) increase from 1.2 million tonnes to 3.4 million tonnes (up 168%)
• Boric acid equivalent (BAE) increase from 11.9 million tonnes to 14.1 million tonnes (up 18%)
• Cut-off grades unchanged at 1,090ppm lithium and 5,000ppm boron.

Approximately 80 per cent of the Mineral Resource is classified as Measured and Indicated.

Approximately 44 per cent of the Mineral Resource is classified as high-boron lithium mineralisation (HiB-Li) and 56 per cent as low-boron lithium mineralisation (LoB-Li).

“To date, we have focussed heavily on progressing our development plan for Rhyolite Ridge,” Ioneer managing director Bernard Rowe said in the company’s ASX announcement.

“With binding offtakes in place, debt and equity commitments of nearly US$1.2 billion and the project in the final stage of permitting, we can now begin demonstrating the broader scale potential at Rhyolite Ridge.

“The updated Mineral Resource base for the South Basin is a fantastic start and we look forward to building on this further with significant growth potential through South Basin extensions as well as increased exploration efforts on the mineralised and much larger North Basin.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE