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- Pilbara Minerals (PLS) announces a substantial increase to the MRE at its Pilgangoora Operation in Western Australia’s Pilbara Region
- The total MRE now stands at 413.8 million tonnes (Mt) grading 1.15 per cent lithium oxide, 112 parts per million (ppm) tantalum pentoxide and 0.53 per cent iron oxide
- The update has enhanced overall resource confidence which is now 82 per cent of the MRE now classified as measured and indicated
- Further extension targets have also been identified, including an eastward extension of the East Pit and Central Pit
- Shares are up 3.81 per cent, trading at $5.18 at 1:52 pm AEST
Pilbara Minerals (PLS) has announced a substantial increase to the mineral resource estimate (MRE) at its Pilgangoora Operation in Western Australia’s Pilbara Region.
Today, the company reported an increase of 36 per cent in total resource tonnage compared to June 30, 2022.
The total MRE now stands at 413.8 million tonnes (Mt) grading 1.15 per cent lithium oxide, 112 parts per million (ppm) tantalum pentoxide and 0.53 per cent iron oxide containing 4.75Mt of lithium oxide and 101.8 million pounds of tantalum pentoxide.
PLS announced a 64 per cent increase in total measured and indicated resources to 337.3Mt at 1.17 per cent lithium oxide.
“The upgraded mineral resource is consistent with our strategy to grow our operating base and therefore maximize value by achieving the full potential from our world-class operation,” PLS Managing Director and CEO Dale Henderson said.
Further extension targets have also been identified, including an eastward extension of the East Pit and Central Pit.
PLS was up 3.81 per cent, trading at $5.18 at 1:52 pm AEST.
