Ann: Alvarroes Assays Confirm Lepidolite Extension, page-2

Alvarrões Assays Confirm Lepidolite Extension

- First results received from Alvarrões diamond drilling confirm good widths and grades in near surface lepidolite-bearing pegmatite sills, including: 3.35 m @ 1.40% Li2O and 3.93 m @ 0.98% Li2O

- Alvarrões pegmatites generally have a high lepidolite content of between 15% and 25%  Multiple flat lying lepidolite-bearing pegmatite sills at Block 1 confirmed over at least 300 m along strike and 200 m down-dip

- Second drill rig mobilised and has commenced drilling at Block 3  Mine planning and geotechnical consultants appointed

- Inaugural JORC Code Mineral Resource estimate on track for September 2017


These initial results confirm that Alvarrões has the potential to provide a long-term supply of lepidolite for concentrate feed to the proposed Phase 1 L-Max® Plant, currently the subject of a Feasibility Study. Lepidico

Managing Director, Joe Walsh, said, “Alvarrões is shaping up as a large lithium mica mineralised system. Block 1 alone has the potential to supply a long-term, quality concentrate feed to the Phase 1 L-Max® Plant planned to be strategically located in Ontario, Canada. Similar success at the larger Block 3 could make Alvarrões the main feed source for a conceptual full scale Phase 2 L-Max® Plant.

“The excellent result from Alvarrões have provided the confidence to appoint both mining and geotechnical consultants with the objective of expediting the estimation of Ore Reserves.”