AVZ Minerals has declared the Manono lithium-tin project in the Democratic Republic of the Congo (DRC) as the world’s largest measured and indicated lithium resource.
The Western Australia-based company had indicated the scope of Manono’s potential last year following the publication of its maiden resource, but a 41.7 per cent upgrade to the project’s combined measured and indicated resources has now confirmed its status as a leading lithium resource.
The upgraded resource now stands at 269 million tonnes (up from 189.9 million tonnes) at 1.65 per cent lithium oxide, 816 parts per million of tin (for 220,000 tonnes) and 36 parts per million of tantalum (for 9600 tonnes).
The company stated its confidence in the site’s tin and tantalum resources, which it hoped to includes in future financial modelling of the project in addition to its lithium resource.
“With Manono confirmed as the world’s largest lithium deposit, we are increasingly confident that the project will continue to develop into production and potentially become a world-leading source of lithium and tin,” AVZ managing director Nigel Ferguson said.
AVZ Minerals today stated that the overall total resource (including inferred resources) of 400 million tonnes at Manono remained unchanged, but the percentage in the measured and indicated categories had improved significantly from 47 to 67 per cent, boosting confidence in the project.
The company owns 60 per cent of Manono and is funding the project towards completion of its feasibility study. The remainder is split between state-owned Cominiere (30 per cent) and privately owned miner Dathomir (10 per cent).
Ferguson added that Manono would continue to grow significantly as work continued at the Roche Dure pegmatite.
“This update provides further assurances as to the demonstrated world-class scale, grade and nature of the Manono project,” Ferguson said.
“We are encouraged by the results of the upgrade in resource categories which were expected given the results of the drilling program.”
The project is spread over a 188 square kilometre area in southern DRC’s Tanganyika province and includes five pegmatites, the largest of which are named Carriere de L’est and Roche Dure.