Desert Lion Energy Inc. posted an initial resource estimate for its Rubicon lithium project in Namibia, for which it recently received a 10-year mining license.

The company said Oct. 12 that it plans to release a preliminary economic assessment on the project by the end of the month.

The project hosts indicated resources of 3.0 million tonnes grading 0.63% lithium oxide and 70 parts per million tantalum pentoxide and inferred resources of 5.8 million tonnes at 0.53% Li2O and 53 ppm tantalum pentoxide.

The estimate, which covers the Rubicon and Helikon deposits using a cutoff of 0.20% Li2O, incorporates data from 21,400 meters of drilling and from channel sampling. Mineralization remains open downdip.

Rubicon also hosts a slimes deposit resulting from historical mining operations, with indicated resources of 62,200 tonnes grading 0.97% Li2O and 82 ppm tantalum pentoxide and inferred resources of 7,200 tonnes at 0.80% Li2O and 85 ppm tantalum pentoxide.