Current resource calculations show the Root and Seymour projects have combined resources of 24.9 million tonnes grading 1.13% LiO2, with 15.5 million tonnes falling within the stated resource category. The Seymour project alone currently contains 10.3 million tonnes (of which 6.1 million tonnes are in the stated resource category) at an average grade of 1.03% Li2O.
The Seymour update was calculated using data from just over 15,200 meters of more than 34,000 meters of drilling. A drilling program is currently underway which we hope will add additional tonnage to the existing resource base.
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The Root project contains 14.6 million tonnes of rock with an average Li2O content of 1.21% and is located approximately 200 kilometers from Seymour. Although the distance is long, it may be feasible to transport rock from one project to another for processing. Perhaps initial screening or pre-focused planning could increase average salaries before launching any product.
Regardless, it will be interesting to see how this resource will impact economic studies, with Green Technology Metals reporting an after-tax NPV of C$1.2 billion, a spodumene price of US$2,029/tonne (FOB Thunder Bay), and a lithium The pyroxene price is 8% hydroxide at US$25,460/ton, also based on FOB Thunder Bay. We will discuss the results of PEA in another article.
