Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announce an updated JORC Code (2012)-compliant Mineral Resource estimate (“MRE”) for the Company’s 80% owned Karibib Project (“KP”) in Namibia (Figure 1), following the infill drill program completed in late 2019. This program achieved its objective of upgrading the predominantly Inferred Mineral Resources into the Measured and Indicated categories. Mineral Resources at Karibib total 11.24 million tonnes grading 0.43% Li2O (0.15% Li2O cut-off) of which 78% of the tonnes are in Measured and Indicated categories versus 34% previously (0.20% Li2O cut-off).
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