PepinNini releases maiden JORC for Pular lithium project
PepinNini Lithium Ltd (ASX:PNN) has today reported an initial lithium and potassium resource statement for its Pular Lithium Brine project in the Salta province of Argentina.
The maiden JORC 2012 resource statement for the project follows the announcement last month of the initial JORC resource for PepinNini’s Rincon lithium brine project, also in Argentina’s Salta Province.
Encouragingly, the Pular Resource announced today includes 366,000 tonnes of lithium carbonate (“Li2CO3”) equivalent (LCE) and 6,904,000 tonnes of potash (“KCl”) equivalent in the Measured Resource category, with an additional 113,000 tonnes of LCE and 2,246,000 tonnes of KCl in the Inferred Resource category.
Managing Director of PepinNini Lithium Ms Rebecca Holland-Kennedy stated: “We are very excited to see such a significant initial JORC resource estimate from our hydrogeological consultants.
“PepinNini now has a strong defined resource estimate in place for its Pular Project with the majority in the Measured category and because of the rocktypes that dominate the drainable brine resource it is anticipated that future wells completed in these units would be favourable for extracting brine.
“This will allow us to continue to advance to the next level of assessment for development of lithium production with potash credits,” she said.
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
PNN’s resource estimate was prepared in accordance with the JORC Code 2012 and uses best practice methods specific to brine resources. This includes a reliance on core drilling and sampling methods that yield depth-specific chemistry and effective (drainable) porosity measurements.
The resource estimation was completed by independent competent person Mr Michael Rosko, M.Sc., C.P.G. of the international hydrogeology firm E.L. Montgomery & Associates (M&A). The Mineral Resource calculation methodology was undertaken by Mr Michael Rosko M.Sc., C.P.G. of Montgomery & Associates (M&A).
Brine chemistry samples were analysed by SGS Argentina S.A., Salta, Argentina; SGS has extensive experience with lithium-bearing brines. Porosity analyses on selected core sample were conducted by Geosystems Analysis Inc. (GSA).
According to the company, brine was evident throughout the entire sections drilled for each of the wells, with the exception of the upper aquifer system near borehole PNN-SU-DW-01.
More details on the JORC results
The overall lithium grades at PNN’s Pular Lithium Brine project range from approximately 80-100 mg/L in the brine below about 80 metres; potassium grades range from about 4,300–5,400 mg/L. A standard chemical relationship indicative of lithium brine quality is the ratio of magnesium to lithium (Mg:Li).
Calculated ratios using non-weighted, average magnesium and lithium sample results are as follows:
- 18.7 for PNN-SU-DW-01
- 19.6 for PNN-SU-DW-02
- 23.6 for PNN-PA-DW-03
- 20.4 for PNN-SU-DW-04
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.