- Lepidico has announced positive results for its phase 1 plant production schedule for the Karibib Lithium Project
- By-product tonnages of lithium, amorphous silica, caesium and rubidium have significantly exceeded those estimated in a 2017 pre-feasibility study
- Importantly, sulphate of potash production has exceeded the PFS estimates to average over 11,000 tonnes per year for 16 years
- The lithium company is developing a phase 1 lithium chemical plant, with commercial production targeted for 2021.
- Lithium product to this plant is being sourced from the Karibib project in Namibia
- Lepidico is up 18.2 per cent and shares are trading for 1.3 cents each
Lepidico (LPD) is up on the market today after announcing results from the first phase 1 project production schedule for the Karibib Lithium Project in Namibia.
By-product tonnages have significantly exceeded those estimated in the pre-feasibility study (PFS) carried out in 2017. Notably, it is the first time estimates for caesium and rubidium chemicals have been included.
The production schedule was generated due to an updated Mineral Resource estimate which sparked from a drilling program conducted at Karibib last year.
Mineral Resources at Karibib total 11.24 million tonnes grading 0.43% Li2O (0.15% Li2O cut-off) of which 78% of the tonnes are in Measured and Indicated categories versus 34% previously (0.20% Li2O cut-off).
Karibib mill throughput design is 330,000 tonnes per annum (tpa) for the first seven years of operation. This is prior to expanding to 540,000tpa as lower lithium grade feed is scheduled. This will allow annual lithium mica concentrate output to be maintained at 57,700 dry metric tonnes.
The lithium company is developing a phase 1 lithium chemical plant, with commercial production targeted for 2021. Feed to this plant is being sourced from the Karibib project which Lepidico holds an 80 per cent interest in.
Engineering for the plant is on track for completion in May this year, based on concentrate throughput of 6.9 tonnes per hour and output of 5,600tpa of lithium hydroxide monohydrate.
By-product design capacity is for up to 16,000tpa of sulphate of potash (SOP) fertiliser, 32,000tpa of amorphous silica, 450tpa of caesium rich formate and 1700tpa of rubidium sulphate.
SOP production is expected to average 11,000tpa compared to an estimated 3000-4000tpa in the 2017 PFS Lepidico has commenced marketing this SOP as a premium fertiliser in the United Arab Emirates.
Annual production of amorphous silica averages 31,000 tonnes over the 16-year project life.
Caesium grades reportedly vary year to year, with annual production ranging from 110 to 460 tonnes, with a post-ramp-up average of 210tpa. Marketing of caesium, as well as the rubidium chemical, has commenced to customers in North America, Europe and Asia.
Additionally, mine design work for two shallow open pits at Rubicon and Helikon 1 (historical lepidolite pegmatite deposits) is on track for completion in April. Lepidico doesn’t expect there to be any changes in annual production estimates.
Key findings from the feasibility study continue to be scheduled for May.
Lepidico is up 18.2 per cent and shares are trading for 1.3 cents each at 11:13 am AEDT.