Widgie Nickel has released the updated Mineral Resource Estimate (MRE) for the Faraday lithium deposit, along with a maiden MRE for the Trainline Lithium Deposit.
Cube Consulting completed the MRE which has been reported above a cut-off grade of 0.30 per cent lithium oxide (Li₂O) to a depth of 310mRL (65m below surface) and 0.50 per cent Li₂O below 310mRL to 250mRL.
The MRE reports a 375 per cent increase of the Faraday-Trainline Lithium Mineral Resources to 1.96Mt at 0.69 per cent Li₂O, as well as a high-grade, near surface zone of 373kt at one per cent Li₂O.
Measured and Indicated Mineral Resources total 1.57Mt at 0.71 per cent Li₂O
Mineralisation remains open at depth with the model only defined to a vertical depth of 130m.
The Faraday-Trainline Lithium Project area is located on Mining Lease M15/102, 4km west north-west of the Widgiemooltha townsite.
The November 2023 Faraday-Trainline MRE was informed by 17,277m of Reverse Circulation drilling (419 holes) and 460m of diamond drilling (DD) (13 holes) carried out in late 2022 and 2023, which has allowed for a detailed interpretation of the geology and mineralisation.
Approximately 1,000kg of representative lithium-bearing diamond core has been collected for variability test-work to determine mineralogy and metallurgical characteristics across the entire deposit, confirming the ability to produce a saleable concentrate with good metallurgical recoveries.
Widgie Nickel Managing Director and CEO, Steve Norregaard, said, “Widgie’s lithium endowment is now shown in a true light. With a high-grade core and a significant portion of the resource identified to date lying at less than 60m depth, readily amenable to low-cost open pit exploitation.
“This is now the beginning of a true growth story as we focus on production in the foreseeable future with a clear mandate to expand our lithium vision for the company and its future.”
