Perth based AVZ Minerals (ASX:AVZ) has released drilling results confirming their 60% owned Congo based Manono deposit as the world’s largest lithium deposit and the second highest grade globally. The discovery positions AVZ Minerals as a world leader in the global lithium market.
The total measured ,indicated and inferred resources at Manomo are 259.9Mt grading 1.63% Li2O (spodumene) containing 4.25 million tonnes of lithium oxide (Li2O), 219Kt of tin as cassiterite grading 844ppm Sn and 11.2Kt Tantalum grading 43ppm Ta2O5 (Tantalum);
Spodumene is an important mineral which is further processed to produce battery-grade lithium carbonate.
AVZ’s Managing Director, Nigel Ferguson said: “This is a significant advance for the project. Manono is now confirmed as the world’s largest lithium deposit, with the second highest grade globally. Additionally, there is considerable advantage in having a significant tin component which should help to reduce operating costs by providing a valuable by-product credit. Deleterious elements are all low and we are encouraged by the results of the ongoing drilling, some of which were not included in this Mineral Resource. This work clearly demonstrates that Manono will continue to grow and potentially become a world leading source of lithium.”
At the time of writing ASX:AVZ was trading at $0.130 AUD.
Reference: ASX Announcement 2 August 2018
#Perth based firm strikes worlds largest #Lithium deposit
Perth based #AVZMinerals (ASX:AVZ) has released drilling results confirming their 60% owned Congo based #Manono deposit…
— Lithium WA (@LithiumWa) August 2, 2018