This results in 1.95 million tonnes of lithium oxide or 4.83 million tonnes of lithium carbonate equivalent, reinforcing the company’s status as Australia’s premier lithium development project.
The upgraded JORC resource is a result of the latest 2016 16,600 metre drilling program and acquisition the Lynas Find lithium deposit from Dakota Minerals (ASX:DKO).
Lynas Find represents a strategic and high-grade addition to the company’s resource inventory.
Pilgangoora remains on track for commissioning by the end of 2017, following the recent award of the major engineering, procurement and construction (EPC) contract.
Furthermore, the balance of the project funding is expected to be secured this quarter.
From a standing start in 2014, the Pilbara Minerals exploration team has delivered a series of resource upgrades, establishing one of the biggest hard rock lithium-tantalum resources in the world.
With early works construction activities already underway and major contracts awarded, currently tendering, or soon to tendered, the focus is now on the delivery of this outstanding project.
Pilbara enters 2017 on course to become a globally significant new strategic metals producer this year.
The stock is trading up 80% over the past 12 months, currently priced at $0.555.