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Lepidico - Exploration Update-Excellent Drilling Results from Helikon 4

* 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.  

For more information, download the attached PDF.

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