Drilling & JORC Mineral Resource Estimation

Since acquisition of the project in June  2016, Prospect has embarked on an aggressive, phased drilling program in order to delineate JORC compliant Mineral Resource estimates. The work has included diamond and reverse circulation drilling, geological mapping and channel sampling, topographic as well as hydrographical surveys.

To date a total of 14 mineralised stacked pegmatites have been identified covering almost 100m vertical distance, with a strike of  almost 4.5km SW-NE, by over 1km down dip.

Following announcement of a Maiden JORC Mineral Resource estimate in October 2016, the Mineral Resource estimate was updated again in March 2017 and was based on 196 drill holes representing a strike length of 2000 m and a downdip length of approximately 850 m. All Mineral Resource estimates were carried out by Digital Mining Services, Harare in conjunction with Roger Tyler, site geologist and Competent Person. All Mineral Resource estimates were reviewed by The MSA Group in Johannesburg.

As of 9 March 2017, the JORC compliant Mineral Resource estimates for the Arcadia Lithium Project were:

A Global Mineral Resource estimate of 57.3Mt grading 1.12% Li2O (using a 0.2% Li2O cutoff) – containing over 640,000t lithium oxide.

 

Global Resource - 0.2% Li2O Cut-off

Category

tonnes

Li2O %

Ta2O5 ppm

Li2O Tonnes

Ta2O5 lbs

Measured

9,000,000

1.17%

134

106,200

2,700,000

Indicated

24,200,000

1.10%

118

268,000

6,300,000

Inferred

24,100,000

1.11%

133

268,000

7,000,000

GRAND TOTAL

57,300,000

1.12%

127

642,200

16,000,000

A high grade zone (using 1% Li2O cut-off) of 34.9Mt at 1.42% Li2O which is being incorporated in to the Pre Feasibility Study.

 

High Grade Zone - 1% Li2O Cut-off

Category

Tonnes

Li2O %

Ta2O5 ppm

Li2O Tonnes

Ta2O5 lbs

Measured

5,700,000

1.48%

134

83,800

1,700,000

Indicated

15,100,000

1.38%

118

208,000

3,900,000

Inferred

14,100,000

1.44%

133

203,000

4,100,000

GRAND TOTAL

34,900,000

1.42%

127

494,800

9,700,000

Arcadia is a medium - high grade, large tonnage deposit consisting of series of stacked mineralised pegmatites with definite further potential to delineate additional resources along strike and with the possibility of discovery of additional parallel ore bodies. Therefore an Exploration Target* of 80 - 100Mt at 1.2-1.5% Li2O is considered achievable in the short to medium term.