Strategically positioned in Western Australia’s resource-rich Pilbara region, we continue to undertake exploration activities to grow our lithium Mineral Resources and Ore Reserves.
We have a consolidated position of tenure within the Pilgangoora pegmatite district and tenements within the Strelley, Tabba Tabba, and Wodgina districts that together form part of one of the largest rare-metal pegmatite provinces in the world.
Our exploration program is progressing multiple targets within this highly prospective portfolio and we continue to assess new project opportunities in the battery materials space.
A major resource development drilling program was undertaken from November 2022 to June 2023, which resulted in a 55 Mt increase in Ore Reserves for the Pilgangoora Operation, representing a 35% increase in total Proved and Probable Ore Reserve Tonnes. The updated Ore Reserve extends the mine life of the Pilgangoora Operation from 30 June 2023 by approximately nine years, to ~34 years.
The June 2023 Mineral Resource statement which the Reserve was calculated from comprises a total of 413.8 Mt, grading 1.15% Li2O, 112ppm Ta2O5, and 0.53% Fe2O3, containing 4.75 Mt of Li2O and 101.8 million pounds of Ta2O5.
Additional extension targets have been identified and will be further drill tested as part of the 2024 Financial Year drilling program.
More information about the Ore Reserve and Mineral Resource can be found on page 21 of the 2024 Annual Report.
The Pilgangoora pegmatite field was discovered in 1905 with alluvial tantalite recorded. Until 1975, the area was worked for alluvial tin and tantalite by various companies before larger scale eluvial operations took place. Exploration for rare metals and other commodities including gold and base metals had been undertaken by numerous companies, but it wasn’t until 2014 that the full potential for lithium was recognised.
We continue to undertake exploration drilling programs with the aim of upgrading and expanding the resource inventory for reserve consideration. The Pilgangoora Operation now hosts one of the world’s largest hard-rock lithium deposits and is recognised as one of the most important sources of lithium raw materials globally.
The acquisition of the Ngungaju Plant and associated tenure has opened immense exploration potential in the area. Being part of the same mineralised system, it provides the opportunity to potentially increase the Pilgangoora Operation’s Mineral Resource and Ore Reserve inventory. Much of the Pilgangoora Operation outside of the immediate mine area remains underexplored, providing potential for further resource growth in the coming years.