Global Geoscience

Published : July 31st, 2016

Exploration database to fast-track maiden JORC Resources at South Basin

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Exploration database to fast-track maiden JORC Resources at South Basin

Global

ASX ANNOUNCEMENT ASX: GSC

1 August 2016 Geoscience

Exploration database to fast-track maiden JORC Resource at South Basin

Highlights

  • Comprehensive database of historic exploration results obtained for the Rhyolite Ridge Lithium-Boron Project in Nevada

  • Data to be used to fast track a maiden JORC-compliant Resource estimate

  • 8800m of RC and Diamond drilling undertaken at South Basin in 2010-2011

  • Drill core from 21 Diamond drill holes to be used for metallurgical test work

  • The Company estimates that it would cost over A$3M to replicate all of the historic work that has been undertaken at South Basin

  • Substantial time and cost saving allowing the rapid progression toward a decision to commence a pre-feasibility study

  • Further technical information will follow in the near future as data is compiled and interpreted

    Summary

    Global Geoscience Limited ("Global" or the "Company") is pleased to announce that it has obtained access to a substantial exploration database relating to historic exploration completed at the South Basin area of the Rhyolite Ridge Lithium-Boron Project in Nevada. The exploration work was completed from 2010-2011 by American Lithium Minerals Inc, in conjunction with Japan Oil, Gas and Metals National Corporation (JOGMEC).

    The database includes:

  • 5135m of Diamond drilling (21 holes), including assays, logs, core, coarse rejects and pulps

  • 3665m of RC drilling (15 holes), including assays, logs, chip trays, sample splits and pulps

  • 465 surface and trench rock chip samples with multi-element analysis including pulps

  • Geological maps, cross-sections and various reports

    Global Geoscience Ltd

    Tel: Fax:

    +61 (2) 9922-5800

    +61 (2) 9922-4004

    ABN 76 098 564 606

    Suite 203, 161 Walker Street

    e-mail:

    [email protected]

    NORTH SYDNEY NSW 2060

    Web:

    www.globalgeo.com.au

    AUSTRALIA

    The Company estimates that the cost to replicate this work would be in the order of A$3M. Most of the data is unpublished information and will be compiled, verified and interpreted prior to release of further technical information.

    The Company is also in the process of collating data about the North Basin where US Borax drilled 57 percussion holes (15,000m) in the 1980's and discovered a large boron deposit. US Borax stated that their drilling defined the second largest deposit of boron in the United States and that the deposit contains elevated levels of lithium and strontium (Esmeralda Energy Company, 2008).

    Figure 1. Map showing Diamond and RC drilling at the South Basin area, part of the Rhyolite Ridge Lithium-Boron Project in Nevada (Map Projection UTM Zone 11, NAD27)

    Future Work

    The exploration database will expedite the calculation of a maiden JORC-compliant Mineral Resource estimation and provide valuable sample material for metallurgical and other test work.

    The Company's current work program includes:

  • Compilation and interpretation of exploration data

  • Delineation of zones of shallow, high-grade mineralisation at the North and South Basin

  • Recalculation of the Exploration Target at South Basin

  • Preliminary metallurgical test work

  • Maiden JORC-compliant Resource estimate at South Basin

  • Decision to commence pre-feasibility

About Rhyolite Ridge Lithium-Boron Project

The Rhyolite Ridge lithium-boron project (22km2) is located close to existing infrastructure in southern Nevada. The project has potential as a long life, low cost source of lithium, boron and strontium. Two sedimentary basins (North and South) contain thick, shallow and flat-lying zones of mineralisation. The mineralisation is hosted by carbonate-rich, fine-grained sediments (marl) that were deposited in a shallow lake environment. The two basins have a combined surface area of approximately 17 sq km. Previous exploration includes over 100 drill holes. Similar "clay-type" lithium deposits include Sonora Lithium-Potassium (Bacanora Minerals, Mexico) and Jadar Lithium-Boron (Rio Tinto, Serbia)

Global Geoscience has the exclusive right to purchase 100% interest in the project from the owner, a private Nevada company.

Lithium content expressed in ppm is converted into Lithium Carbonate Equivalent (LCE) by multiplying by 5.32. LCE does not include boron and strontium content.

Contacts

Bernard Rowe Darien Jagger

Managing Director Executive Director

Global Geoscience Ltd Cygnet Capital Pty Limited T: (02) 9922 5800 T: (08) 9226 5511

E: [email protected] E: [email protected]

References

Global Geoscience Ltd, 2016a. Company Report titled "Global to Acquire Advanced Nevada Lithium-Boron Project" dated 3 June, 2016.

Global Geoscience Ltd, 2016b. Company Report titled "Global Announces Exploration Target at Nevada Lithium-Boron Project" dated 8 June, 2016.

Global Geoscience Ltd, 2016c. Company Report titled "Global Announces High-Grade Rock Chip Results from Nevada Lithium-Boron Project" dated 15 June, 2016.

Global Geoscience Ltd, 2016d. Company Report titled "Global completes due diligence and proceeds with Nevada Lithium-Boron Project" dated 4 July, 2016.

Global Geoscience Ltd, 2016e. Company Report titled "Sampling Test Work Supports Low Cost Processing" dated 18 July, 2016.

Global Geoscience Ltd, 2016f. Company Report titled "New, 2.5km Long Zone of High-Grade Mineralisation at South Basin" dated 21 July, 2016.

American Lithium Minerals Inc, 2010. Company report titled "American Lithium Commences Field Work on the Borate Hills Project" dated 21 June, 2010.

Esmeralda Energy Company, 2008. Final scientific technical report January 2008. Emigrant Slimhole Drill Project DOE GRED III.

Competent Persons Statement

The information in this report that relates to Exploration Results and Exploration Targets is based on information compiled by Bernard Rowe, a Competent Person who is a Member of the Australian Institute of Geoscientists. Bernard Rowe is an employee and Managing Director of Global Geoscience Ltd. Bernard has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Bernard Rowe consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Read the rest of the article at www.publicnow.com
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Global Geoscience is a exploration company based in Australia.

Global Geoscience holds various exploration projects in Peru.

Its main exploration properties are SARA SARA and MANCHA PAMPA in Peru.

Global Geoscience is listed in Australia. Its market capitalisation is AU$ 256.4 millions as of today (US$ 185.3 millions, € 161.9 millions).

Its stock quote reached its lowest recent point on September 04, 2015 at AU$ 0.00, and its highest recent level on March 23, 2018 at AU$ 0.53.

Global Geoscience has 1 068 449 920 shares outstanding.

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