- Essential Metals (ESS) has increased its mineral resource estimate at its Dome North Lithium Project in WA
- The mineral resource now stands at 11.2 million tonnes at 1.21 per cent lithium oxide and 40 parts per million tantalum oxide for 136,000 tonnes of contained lithium oxide
- This represents a 37 per cent increase in tonnes and a 33 per cent increase in contained lithium oxide
- The three deposits that comprise the mineral resource estimate are Cade, Davy and Heller
- Essential Metals is now undertaking exploration including gravity and flotation test work
- Company shares have dropped 3.57 per cent and are trading for 13.5 cents
Essential Metals (ESS) has substantially increased the mineral resource estimate for its Dome North Lithium Project.
The Dome North Lithium Project is part of the greater Pioneer Dome Project in the Eastern Goldfields region of Western Australia.
The mineral resource now stands at 11.2 million tonnes at 1.21 per cent lithium oxide and 40 parts per million tantalum oxide for 136,000 tonnes of contained lithium oxide.
Of this, 5.4 million tonnes at 1.3 per cent lithium oxide has been reported in the indicated category and comes from successful infill drilling at the Cade deposit.
The updated mineral resource estimate represents a 37 per cent increase in tonnes and a 33 per cent increase in contained lithium oxide since the maiden resource was announced in November 2019.
Importantly, the increase in tonnes has come from the addition of the Davy and Heller pegmatites – both of which host near-surface mineralisation.
The three deposits that comprise the mineral resource estimate are Cade, Davy and Heller.
“The Dome North Mineral Resource upgrade reflects the quality and excellent potential of the Project and the outstanding results achieved from the three drilling programme undertaken to date,” Managing Director Tim Spencer said.
“At this early stage, it is already possible to see a quality lithium project in the
making with the right ingredients present in the form of multiple deposits, exploration upside, an easy development location and a fundamentally strong medium to long term outlook for lithium demand,” Spencer said.
Essential Metals is progressing exploration work which is aimed at better understanding the structural setting over the project as well as identifying future drill targets.
Additionally, gravity and flotation test work on samples from the Cade deposit are advancing well and final results are expected next month.
Company shares have dropped 3.57 per cent and are trading for 13.5 cents at 12:40 pm AEST.