Global Geoscience Ltd (ASX:GSC) has completed the preliminary review of historical exploration data over the southern basin of its Rhyolite Ridge Lithium-Boron Project in Nevada, U.S.
The historical high-grade lithium intersections include 12 metres at 1.42% lithium carbonate equivalent (LCE) from 65 metres and 14 metres at 1.37% LCE from 55 metres.
Importantly, the data demonstrate the significant tonnage together with the potential for higher-grade zones of mineralisation within South Basin.
The historical data analysed by Global includes drilling undertaken in 2010-2011 by American Lithium Minerals Inc, in conjunction with Japan Oil, Gas and Metals National Corporation.
The drill-hole data is expected to provide sufficient information to calculate an initial JORC-compliant resource estimate.
Global anticipates completion of the maiden resource estimation in October 2016.
Upon completion of a resource estimate and subject to positive preliminary metallurgical test work, the company will commence a pre-feasibility study (PFS) to assess the economic potential of the project.
Global is fully funded to complete a PFS on the project, after raising $6 million last month via a share placement at $0.075 each.
Incidentally, the company has also estimated an exploration target for the North Basin of 1 to 1.5 billion tonnes at 1000 ppm to 2000 ppm lithium, 0.5% to 1.0% boron and 0.5% to 1.0% potassium.
Global’s share price has increased by more than 900% during the last six months, last trading at $0.062.
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