Plymouth Minerals Ltd. said Dec. 5 that an updated mineral resource estimate for its San Jose lithium-tin project in Spain increased lithium carbonate equivalent tonnes by 21% when compared to the May 2017 estimate.
Using a 0.10% lithium cutoff grade, the property now hosts a combined indicated and inferred resource of 112 million tonnes at 0.61% lithium oxide and 0.02% tin containing more than 1.6 million tonnes of lithium carbonate equivalent.
The updated resource includes a 140% increase in tonnes in the indicated category.
The updated resource estimate will improve the recent scoping study results and will form the basis of a feasibility study in 2018.
In early October, Plymouth completed the first stage of a 2016 agreement and earned a 50% interest in the San Jose lithium-tin project from Saycr Vallehormoso SA unit Valoriza Mineria SLU.
Plymouth can increase its stake in San Jose to 75% by spending €2.5 million and completing a JORC-compliant feasibility study within 2 years. Some minor geotechnical and metallurgical drilling is expected in early 2018, the company added.
