Plymouth Minerals releases maiden JORC lithium-tin resource at San Jose

By Trevor Hoey. Published at May 25, 2017, in Small Caps

Plymouth Minerals (ASX: PLH) has released the maiden JORC lithium-tin resource in relation to its joint venture San Jose project in Spain.

The inferred and indicated resource based on a 0.1% lithium cut off is 93 million tonnes grading 0.6% lithium oxide and 0.02% Sn (tin). This represents a 16% increase on the previous non-JORC foreign estimate of mineralisation.

Based on a 0.35% lithium cut off, the resource is 16.5 million tonnes grading 0.9% lithium oxide and 0.04% Sn.

Mining industry consultants, Snowden anticipates that the mineralised slates will likely be mined using bulk mining methods and should this form of processing be applied, it is of the view that reporting the mineral resource using a 0.1% lithium cut-off grade is appropriate.

It must be noted though that like many early stage mining plays, today’s stock should still be considered a speculative investment and investors should seek professional financial advice if considering it for the portfolio.

With regard to the prospects for future resource expansion, the deposit is open along strike and at depth with a large exploration target.

Plymouth can earn up to 75% of San Jose by completing feasibility study

Commenting on this important development, PLH’s Executive Chairman, Adrian Byass said, “Release of the maiden JORC resource statement demonstrates that San Jose is a world-class asset with lithium mineralisation amenable to a simple open pit mining operation in an infrastructure endowed part of Europe.”

In looking to the future, Byass noted that this provides a platform for the next phase of work which is based on finalisation of confirmation test work and open pit optimisations prior to lodgement of the Mining Licence Application planned for September 2017.

PLH has partnered with the large Spanish company Sacyr and its wholly owned subsidiary Valoriza Mineria in an earn-in JV. Plymouth can earn up to 75% of San Jose by completing a Feasibility Study within 4 years (approximately A$6 million in spend).

San Jose is a highly advanced lithium project which is hosted in lithium-mica. A feasibility study completed in 1991 defined an open pit mining operation and a process flow sheet which produced lithium carbonate through acid-leach processing.

Lithium carbonate to be produced on site at San Jose

PLH has two factors working in its favour in relation to the San Jose project – a large exploration target which will be drilled with a view to expanding the resource, and secondly, the ability to directly convert lithium bearing micas to lithium carbonate on site.

This bypasses the requirement to trade in concentrate with off-site convertors. A feature of the lithium mineralisation at San Jose is that it is hosted in a massive, replacement style deposit with cross cutting tin bearing quartz veins, similar to other large lithium-tin deposits in Europe which are currently in production.

Plymouth and its Spanish Joint Venture partner (Valoriza Mineria) intend to produce lithium carbonate (LCE) on site. Previous drilling and process test work contained in an historical feasibility study that was recently acquired by Plymouth was based on producing lithium carbonate on site utilising open pit mining and acid leach technology.

With regard to the size of the exploration target, the deposit has not been closed off by drilling, and mineralisation remains open along strike and at depth, being host to very wide zones of mineralisation. Lithium mineralisation extends from surface to in excess of 350 metres vertically and in excess of 500 metres along strike.

Mining industry consultants, Snowden has conjecturally derived an Exploration Target for San Jose, based on the observed geology to the southern side of the syncline that hosts the Mineral Resource Estimate.

Snowden observed that identical lithology and alteration exists on the southern flank of the syncline and that tin mineralisation has been historically exploited in the same manner as it has on the northern side of the syncline.

Snowden is of the view that the only geological reason for lithium mineralisation not being identified in this area is that it has not been drilled in recent years.

Based on Snowden’s assumptions and bearing in mind that the mining consultant’s estimates by its own admission are conjectural in nature and as such speculative, a potential Exploration Target as listed below could potentially lead to a significant expansion of the San Jose project.

View Our Investment Portfolios

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.

Publishers Notice

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.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!