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The estimate totalled 12.8 million tonnes grading 1.18% lithium oxide and 158 parts per million tantalum oxide.
The resource meets the tonnage and grade requirement for the pre-payment of A$25 million (in staged payments) to Bald Hill 50:50 owners Tawana and Alliance Mineral Assets from Hong Kong-listed offtake party Burwill Holdings.
Tawana said the Bald Hill pegmatite mineral resource comprises one large, main, sub-horizontal pegmatite body, striking north-south, with a strike length of 1070 metres, and a width at its widest point of 775 metres.
Tawana said about 80% of the lithium and tantalum said to occur in a 100m-deep interval starting from about 30m below “the lowest surface level”.
About two-thirds of the resource is currently in the inferred category.
Tawana also pointed out that the maiden resource covers “only 20% of the known southern swarm of lithium pegmatites”.
Shares in Tawana were down 4% to 23c in morning trade, capitalising the company at $96 million.
The stock was at 3c 12 months ago.
