PepinNini Lithium flags JORC Resource restatement

By Justin Ware. Published at Jan 23, 2019, in Mining

PepinNini Lithium (ASX:PNN) will pursue a JORC 2012 Resource restatement, following its decision to discontinue the exploration purchase option covering Patilla Mina on Salar de Pular in Argentina.

PNN is a diversified ASX small-cap focused on exploring and developing a lithium brine resource and production project in Salta Province Argentina within the Lithium Triangle of South America. The company also holds strategically located exploration tenements in the Musgrave Province of South Australia, as well as a copper-gold exploration project in Argentina's Salta Province.

The restatement itself covers brine within PNN’s 100% owned Suifa 1 Mina (mining concession), including exploration activities carried out by the company last year.

The Resource, as shown below, consists of low grade lithium carbonate (LCE) measuring 91,000 tonnes and Inferred 82,000 tonnes and includes a potash (KCL) resource. The company is currently evaluating the potential to blend this brine with brine from its other holdings to produce a feasible higher grade product.

Updated Resource estimate for Pular Project

The Resource estimate was prepared in accordance with the JORC Code 2012 and uses best practice processed specific to brine resources, including core drilling and sampling methods that yield depth-specific chemistry and effective drainable measurements.

The estimation was completed by independent competent person, Michael Rosko, M.Sc., C.P.G. of the international hydrogeology firm E.L. Montgomery & Associates.

More about the Resource restatement

The total area of the polygonal blocks used in the updated Resource calculation was 5.9km2. The polygons used for calculation are shown in red in the map below.

Source: PNN

The initial total area for the Resource estimate reported in July 2018, including all tenements, was 16.024km2.

Eliminating the Patilla tenement, subject to the discontinued exploration option, results in a sizeable 63% reduction in the total area in the concessions being used for the resource estimate.

To recalculate the Resource for Sula Mina only, the initial polygons were not redrawn around the exploration boreholes, as was done in July. Due to the confidence of Rosko (competent person) in the initial Resource estimate, he eliminated that part of the resource that was not calculated from Sulfa Mina and did not redraw the polygons.

This aside, all other aspects of the initial resource estimate were maintained, including assumptions around basin boundaries, unit thickness, brine grades and non-inclusion of fresh and brackish water areas.

Polygons 1, 2 and 4 are considered a Measured Resource, and Polygon 5 is still considered an Inferred Resource. Polygon 3 was located completely in the Patilla Mina and is therefore not within the considered resource calculations.

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!