- International Lithium (ILC) has released a lithium and rubidium maiden mineral resource estimate (MRE) for its Raleigh Lake project in Ontario
- The company stated the project has a separate MRE for lithium and rubidium
- The lithium MRE for the Raleigh Lake pegmatite field reported a total contained lithium of 8,323 tonnes, indicated and inferred
- The total contained rubidium was 1,343 tonnes, indicated and inferred
- International Lithium (ILC) is unchanged, trading at $0.07 per share at 1:21 p.m. EST
International Lithium (ILC) has released a lithium and rubidium maiden mineral resource estimate (MRE) for its Raleigh Lake project in Ontario.
The company stated the project has a separate MRE for lithium and rubidium. The two MREs are said to be closely related due to their spatial relationships. However, the company considered each respective resource estimate to be separate and unique.
The lithium MRE for the Raleigh Lake pegmatite field reported a total measured and indicated contained lithium of 6,824 tonnes. Moreover, the inferred contained lithium category had 1,499 tonnes.
According to ILC, pegmatites within the deposit are weakly zoned, and mineralization is relatively consistent throughout.
Two minerals are able to be mined separately
As for the rubidium MRE, the total measured and indicated contained rubidium was 822 tonnes. The inferred category recorded a finding of 521 tonnes of contained rubidium.
ILC stated that rubidium was also found throughout the pegmatites within the lithium-bearing spodumene at a lower cut-off but was not included in this MRE. The estimated rubidium had been constrained to a higher cut-off which separated it from the lithium resource, thus allowing the two minerals to be mined and presented separately.
Two dominant pegmatites within the project are referred to as pegmatite #1, and #3, both of which outcrop on the surface and are exposed for a 150-metre strike length.
Previously, diamond drilling proved continuity of approximately 800 metres to a width of nearly eight metres for pegmatite #1 and roughly 700 metres with an average thickness of 1.2 metres for pegmatite #3.
International Lithium (ILC) is unchanged, trading at $0.07 per share at 1:21 p.m. EST.