Lepidico Ltd. on Dec. 7 announced an initial resource estimate for its Alvarrões lithium project in Portugal, comprising 1.5 million tonnes at 1.1% lithium dioxide in the inferred category.
A preliminary mining study on Alvarrões, completed as part of the resource analysis, indicated that blocks 1 and 2 alone could provide about 10 years' worth of lithium-mica concentrate feed for the initial phase of Lepidico's feasibility-stage L-Max plant in Ontario.
The company noted that blocks 1 and 2 comprise the bulk of the resources, with 1.1 million tonnes at 1.1% lithium dioxide.
The initial resources were estimated using a lithium carbonate price of US$12,000/tonne and considering a minimum 0.5-meter sill thickness and a cutoff of 1,750 parts per million of lithium.
Lepidico has defined 13 stacked subhorizontal mineralized pegmatite sills to date, covering an area of 900 meters by 500 meters and ranging in thickness from half of a meter to over 4 meters, with 15% to 30% lepidolite content. The system remains open in all directions.
The company is planning a reverse circulation and diamond drilling program to increase data density in the central areas and to further extend mineralization to the north and west, aiming to upgrade resources within blocks 1 and 2 and establish resource potential across block 3.