Global Geoscience Ltd. estimated a JORC 2012-compliant maiden indicated and inferred mineral resource for South Basin, part of its Rhyolite Ridge lithium-boron project in Nevada, of 393 million tonnes.
At a 0.6% lithium carbonate equivalent cut-off, the resource contains 0.9% lithium carbonate, 2.9% boric acid and 1.7% potassium sulfate.
According to an Oct. 10 statement, about 3.4 million tonnes of lithium carbonate is contained within the resource.
A high-grade zone within the deposit contains indicated and inferred resources of 65 million tonnes at 1.0% lithium carbonate, 9.1% boric acid and 2.2% potassium sulfate, at a 1.8% LCE cut-off.
The mineral resource is open to the north, south, and east and has significant potential to expand, the company noted.
Bernard Rowe, the company's managing director, said that metallurgical test work is ongoing at the project with "drilling at both North Basin and South Basin scheduled to commence in late October."
Global Geoscience secured an option to acquire all interest in Rhyolite Ridge from private company Boundary Peak Minerals LLC in June.