* Helikon 4 infill drilling returns broad intercepts of lepidolite mineralisation, including 40 m @ 1.08% Li2O & 20 m @ 1.16% Li2O
* Weighted average intercept grade of 0.60% Li2O from new drilling versus Helikon 4 Inferred Resource grade of 0.38% Li2O
* A new lepidolite-bearing pegmatite confirmed by RC drilling at Homestead prospect; zone being chased down plunge
* Trenching and sampling of Rubicon stockpiles complete; aimed to enable reporting of an upgraded Indicated MRE
Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to advise that encouraging results have been recorded on multiple exploration fronts. Drilling at Helikon 4 has returned the broadest high grade lithium intercepts to date at the Karibib Project (80% Lepidico), while a new lepidolite bearing pegmatite has been identified at Homestead with a strike of at least 250 m and downhole width of up to 31 m. In addition, trenching and sampling of lepidolite rich stockpiles at Rubicon is complete with a revised Mineral Resource Estimate (MRE) now in progress that is intended to upgrade the current high-grade Inferred material into Indicated category and thereby allow it to be included in the Phase 1 mine plan.
Two new land access agreements have been entered into allowing exploration of priority targets to start within EPL5439, which is located immediately to the east the Phase 1 Mining Licence area (ML204). The Homestead target is situated within this EPL, 1.6 km along strike from the Helikon 2-5 line of lepidolite pegmatites. Preparation is also underway to start exploration activities in the east of EPL5439 on several priority lithium and gold targets.
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