Canadian junior explorer Tantalex Lithium Resources has declared a maiden mineral resource estimate of 5.46-million tonnes of lithium oxide at a grade of 0.72% in the measured and indicated category for its majority-owned Manono lithium tailings project, in the Democratic Republic of Congo.
The project comprises 11 technogenic deposits made up of the reject lithium/caesium/tantalum pegmatite material processed at the Manono-Kitotolo mine from 1919 to the mid-1980s.
The total inferred mineral resource comprises 6.63-million tonnes at a grade of 0.49% lithium oxide, with the lithium contained in spodumene is amenable for production of 6% lithium oxide spodumene concentrate, which is valued at $4 000/t.
The Manono mineral resource has been defined by 11 922 m of drilling of 368 drillholes – the results of which point to a quick path to production owing to the material on surface being already crushed, presenting no strip ratio and low mining costs.
President and CEO Eric Allard says that, with this mineral resource estimate, Tantalex Lithium can now enter a select group of near-term lithium producers. “Our relatively easy and low-cost mining process gives us an incredible advantage on our speed to market compared to other lithium peers.”
The mineral resource reported at a cut-off grade of 0.20% lithium oxide; while the reasonable prospects for eventual economic extraction were determined with mining being undertaken using bulldozers and loaders, at a recovery rate of between 50% to 70% lithium oxide and a mining cost of $2.17/t of rock. The processing cost amounts to $11.18/t.
With spodumene concentrate lithium prices likely set to remain above $4 000/t for the next six to eight years, he says the company’s focus is now to bring an initial production of 100 000 t/y of concentrate to market by 2025.
“With no offtake agreements yet entered into, our project is currently attracting important offtaker interest,” adds Allard.