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Grounded Lithium Corp. (TSXV: GRD) (OTCQB: GRDAF) has announced the upgrade of 63 sections of its holdings from Inferred to Measured and Indicated mineral resources (M&I). This upgrade represents approximately 1.0 million tonnes of lithium carbonate equivalent (LCE) within the 4.2 million tonnes of reported Inferred resource within the Kindersley Lithium Project (KLP) area.
The reclassification of the Company’s total resource base is detailed in Table 1. Figure 1 outlines the reclassified sections to either Measured or Indicated mineral resources.
The upgrade to M&I involves 21% of the total sections comprising the KLP. The independent technical report upgrades 24% of the total Inferred mineral resource, confirming the overall 4.2 million tonnes of LCE across the KLP.
Gregg Smith, President & CEO, commented on the upgrade, emphasizing the company’s vision to secure high-quality resource rights and drive compelling economics. The upgrade is a key step in the commercialization of Phase 1 of the KLP.
The Measured portion of the resource is 516,000 tonnes LCE or 586,000 tonnes lithium hydroxide monohydrate (LHM). The Indicated portion of the resource is 463,000 tonnes LCE or 526,000 tonnes LHM.
The technical information in this press release comes from a technical report prepared by Sproule Associates Limited in compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101).
The upgrade of a percentage of the Company’s total LCE resource base to M&I provides further confidence in efforts to commercialize the KLP. The next step is the preparation of a pre-feasibility study.
GLC controls approximately 1.0 million metric tonnes of LCE of M&I and approximately 3.2 million metric tons of lithium carbonate equivalent of Inferred resource over focused land holdings in Southwest Saskatchewan.
The press release may contain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. These statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by GLC that the Company believes these forward-looking statements continue to be true as of any subsequent date.
Company Website: https://www.groundedlithium.com
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