Neometals and MinRes increase Mt Marion 160 per cent

THE DRILL SERGEANT: Mineral Resources (ASX: MIN) and Neometals (ASX: NMT) announced a new Mineral Resource Estimate for the Mt Marion lithium project.

The new Estimate has been prepared by Snowden Mining Industry Consultants.

The results has increased the Mineral Resource Estimate to Indicated and Inferred Mineral Resources of 60.5 million tonnes at 1.36 per cent lithium oxide (Li2O) and 1.09 per cent iron, at a cut-off grade of 0.3 per cent Li2O.

This compares most favourably to the previous Estimate of 23.24 million tonnes at 1.39 per cent Li2O, at a cut-off grade of 0% Li2O.

“This represents a substantial increase in the size of the mineral resource, equating to a 160 per cent increase in the total contained lithium at the project, the companies said in a joint ASX announcement.

“The 0.3 per cent cut-off grade reflects the strategy of mining to the lithium-bearing pegmatite contacts.”

Email: info@neometals.com.au

Website: www.neometals.com.au