Following the acquisition of the Wolfsberg project, GSM undertook exploration drilling in 2012 on the southern limb of the anticline which confirmed the structural interpretation and presence of lithium bearing pegmatite veins. Mining was undertaken in 2013 to validate the mining license and to collect 500 tonne bulk samples from the two ore types for metallurgical testing. The Minerex drilling data was utilised to develop a three dimensional resource model for use in mine planning.
Deposit is split into two zones:
the northern limb of an anticline was drilled by Minerex down dip to a maximum depth of 450m and mapped over a distance of 1500m. Lithium bearing pegmatite veins up to 5.5m wide intersected and ore body remains open along strike to the west and down dip. Minerex completed 16,727m of drilling and 1,389m of mine development including access decline, drives and crosscuts.
exploration target, demonstrated to be the southern limb of an anticline of which the northern limb (Zone 1), was the focus of all exploration by Minerex. This area is believed to have the potential to mirror the resources of Zone 1.
The resource was declared by previous owners to German and Austrian reporting standards and by GSM to JORC Code (2004):
*JORC 2004 Measured resource at a cut-off grade of 0.75% Li2O derived from a global measured resource of 4.7Mt @ 1.2% Li2O