MiningLithiumMarkets Chris Ellison-chaired Delta Lithium adds...

MiningLithiumMarkets
Chris Ellison-chaired Delta Lithium adds gold to its repertoire with Mt Ida maiden resource estimate released
Adrian RausoThe West Australian
Wed, 11 October 2023 12:26PM



Mineral Resources chief executive Chris Ellison talking at Mineral Resources Park. Credit: Ian Munro/The West Australian

Chris Ellison-chaired Delta Lithium has declared a maiden gold resource at its Mt Ida project in the Goldfields, which is set to commence lithium mining operations this year.
Delta told the Australian Securities Exchange on Tuesday that 85 per cent of the gold mineral resource estimate at Mt Ida is co-located adjacent to the project’s lithium resources, which could potentially provide complementary revenue to the lithium operation.
The gold mineral resource estimate at Mt Ida encompasses 3.1 million tonnes at a grade of 4.1 grams per tonne, equating to a total estimate of 412,000 ounces of the precious metal.

Earlier this month, Delta upgraded its lithium resource by 136 per cent at Mt Ida and said it was on target to kick off mining operations by the end of the year.
Mt Ida borders ground where Gina Rinehart’s Hancock Prospecting has a lithium exploration joint venture with an Indian-owned group.
Managing director James Croser said the gold resource was a “tremendous” value add to the lithium aspect of Mt Ida.

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“The key highlight of this MRE is the favourable location of the gold ore adjacent to the top of the Sister Sam lithium ore, potentially allowing mining to occur within the same planned pit shell whilst adding minimal incremental cost to the open pit operation,” Mr Croser said.
“While further metallurgical work on the gold mineralisation will be conducted, there are several gold-processing plants in the region and discussions will be conducted to investigate downstream processing options.”
Mineral Resources last month captured a major stake in Delta, becoming its largest shareholder with a stake of about 17.4 per cent.
MR Ellison was swiftly installed as chair of Delta, which will give the mining billionaire strategic oversight of company’s lithium and gold ambitions.
Delta shares were up 3 per cent at 10am to trade 68¢ each.