MT MARION - LITHIUM
This Project Summary was last updated 2010-03-09 00:25:18.
The Mount Marion project comprises two Mining Lease applications, M15/999 and M15/1000, which cover the outcropping pegmatites.
During the 1960’s - 1980’s, Western Mining Corporation (WMC) carried out extensive exploration on the Mount Marion tenements and completed a study which considered mining, beneficiation and chemical processing to produce 5,000t of lithium carbonate per annum over a mine life of 10 years.
In 1996, Associated Minerals Pty Ltd completed a prefeasibility study to produce lithium and potassium products. Pilot test work has produced spodumene (lithium) concentrates of 6.5 to 7 % Li2O, with lithium recoveries of between 75 and 83%.
The Company will be targeting a Mineral Resource of 7-8Mt of spodumene pegmatite at a grade of ~1.5% Li2O. This is based on a previous review of historical estimates of reserves that was undertaken as part of the pre-feasibility study in 1996 and reported in accordance with the JORC Code (1989). The review confirmed the original resource/reserve estimates by Western Mining Corporation (WMC) in the 1970s, supported by some check drilling in the 1990’s. This work identified reserves of 1.49 Mt at an average grade of 1.67 % Li20 in the No.1 deposit (refer Figure 2), including ‘proved reserves’ of 0.54 Mt at 1.9% Li2O and ‘probable reserves’ of 0.95 Mt at 1.5% Li2O (at a cut-off grade of 1.2% Li2O and bulk density of 2.80 t/m3).
In addition, the review also confirmed a resource of 1.0 Mt at 1.5% Li2O at depth in the No.1 deposit (using a 1.2% Li2O cut-off grade); ‘probable reserves’ of 0.3 Mt at 1.2% Li2O in the No.2 deposit; and resources of 0.8 Mt at 1.17% Li2O in the No.2 West deposit and 0.3 Mt at 1.3% Li2O in the No.4 deposit (Figure 2). A minimum cut-off grade has not been applied at the No.2, No.2 West and No.4 deposits. Strip ratios for the deposits ranged from 1:1 to 2:1.
NEWS FLOW...
March 4, 2010
Mt Marion Final Drill Results and Development Timetable
Phase 2 resource extension drilling completed (57 holes) and confirms multiple, stacked, high-grade pegmatites at the Nos 1, 2, 2W and 5 Deposits.
All deposits remain open along-strike and down-dip.
Diamond drilling for geotechnical and metallurgical purposes is complete.
Resource estimate planned for completion by April 2010.
Development Timetable issued - plant commissioning anticipated in the December Quarter 2010.
More...January 18, 2010
Resource definition drill results
Phase 1 resource definition drilling (139 holes) confirms multiple, stacked, high-grade pegmatites at the Nos 1, 2 and 2W Deposits.
Average intercepts of high-grade mineralisation is 9.2m at 1.52% Li2O and 1.4% Fe2O3, using 0.6% Li2O lower cut-off grade.
Three additional pegmatite prospects have been delineated, including the 1W and 5 prospects.
Phase 2 resource extension drilling is underway (45 holes) and is expected to be completed by the end of January 2010.
Resource estimate planned for completion by April 2010.
More...November 19, 2009
Encouraging results point to 2010 startup at Mt Marion
Recently completed test work yields positive results.
Mass recovery to concentrate of 34% vs targeted 20% at target concentrate grade of +6.5% Li2O
Phase 1 RC Drill Program to target 7-8Mt of 1.3-2% Li2O has commenced.
中文版 - 瑞德（Reed）和矿产资源（Mineral Resources）继续推进Mount Marion 锂项目2010 年生产启动
More...October 27, 2009
Mount Marion Lithium Project to start-up in 2010
Reed Resources and Mineral Resources have reached a farm-in agreement for the development of the Mount Marion Lithium Project in Western Australia’s goldfields region.
Mineral Resources is to complete a feasibility study with a view to:
- build, own and operate the processing facilities;
- fund all development costs
- and operate the project,
to earn 40% of net profit from the operation with accumulated development and operational costs being repaid from future operations.
Reed will retain the balance of net profit (60%) and the right to purchase all Spodumene produced.
Based on the current timetable, Mineral Resources will mobilise processing plant and equipment to Nimbus site in Q2 2010, with first product shipments expected in Q3 2010.
Initial production rate is expected to be 17,000 tonnes per month of +6.5% Li2O concentrate.
中文版 - 瑞德（Reed）和矿产资源（Mineral Resources）继续推进Mount Marion 锂项目2010 年生产启动
More...September 1, 2009
Reed exercises option to acquire Nimbus Processing Plant
Reed have exercised their option to acquire the Nimbus Silver Project and Processing Plant in Kalgoorlie for A$2.25M;
Acquisition funded by recent successful A$6.4M Capital Raising to institutional and qualified investors and fully underwritten A$4.5M Shareholder Purchase Plan;
The site offers a potential location for a mobile plant to produce lithium (spodumene) concentrates from Mount Marion, utilizing existing water supply, tailings facilities and site infrastructure.
More...August 13, 2009
Option to Acquire High Grade Lithium Project
Reed has acquired an Option to purchase the Mount Marion Lithium Project in the Goldfields region of Western Australia.
- Extensive drilling and evaluation was previously conducted by WMC.
- Targeting a mineral resource of 4-5Mt at 1.5-2% Li2O based on historical reserves.
- The project has significant infrastructure advantages and low strip ratios.
- RC/Diamond drilling program scheduled to commence next quarter.
- Bill Crossley appointed as Project manager for the Mount Marion project.
- Reed builds on position as a diverse commodity company.
中文版 - 瑞德资源（Reed Resources）赢得了获得高品位Goldfields 锂项目的 选择权
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