Global Geoscience Joins S&P/ASX 300 Index and Provides Rhyolite Ridge Update
SYDNEY, Australia, March 19, 2018 (GLOBE NEWSWIRE) -- Australian-based lithium-boron mine developer Global Geoscience Ltd. (“Global” or “the Company”) (ASX:GSC) is pleased to advise that effective today the Company is now included in the S&P/ASX 300 Index.
Global Geoscience is developing its 100% owned Rhyolite Ridge Lithium-Boron project located in Nevada, USA. The Company and Amec Foster Wheeler (“Amec”) are working together on the Pre-Feasibility Study (“PFS”). The work is being carried out in two phases – a definition phase, including trade-off studies, to identify the major process and infrastructure components required and a pre-feasibility phase involving both design and estimating. The PFS work is progressing well and in accordance to plan.
Shareholders can expect further updates in the coming weeks regarding:
- PFS trade-off studies
- Preliminary site layout and environmental permitting
- Further optimisation of the acid-leach process
- Crystallisation and purification of the lithium and boron end products
Global Geoscience’s Managing Director, Bernard Rowe commented:
“We are delighted with the rapid progress of our unique Rhyolite Ridge Lithium-Boron project in Nevada, and this has now been reflected in our inclusion in the S&P/ASX 300 Index.
“The Rhyolite Ridge PFS is progressing well under the direction of Amec Foster Wheeler. The unique mineralogy and chemistry of the Rhyolite Ridge mineralisation continues to provide many attractive options which consistently point to low-cost processing and high recoveries of lithium and boron.
“Phase one of the PFS includes trade-off studies to select the most favourable processing and infrastructure alternatives. Key aspects of this work have been to evaluate and compare the various leaching options – heap, vat and agitation (tank) leaching and on-site production of sulphuric acid.
The Rhyolite Ridge mineralisation is ideally suited to open pit mining methods as it is shallow, thick and gently dipping, resulting in a low strip ratio. Simple, low-cost acid leach processes can be used to extract lithium and boron at high recovery rates into a Pregnant Leach Solution (“PLS”). Lithium and boron can then be removed from the PLS through crystallisation and purification steps to produce lithium carbonate or lithium hydroxide and boric acid at the mine site. This ability to produce lithium and boron end-products on-site from a hard-rock source makes Rhyolite Ridge a unique development opportunity.
Contacts at Global Geoscience
| Bernard Rowe | James D. Calaway | Roger Howe |
| Managing Director | Chairman | Investor Relations |
| T: +61 419 447 280 | T: +1 713 818 1457 | T: +61 405 419 139 |
| E: browe@globalgeo.com.au | E: jcalaway@calawayinterests.com | E: rhowe@globalgeo.com.au |
About Global Geoscience
Global Geoscience Ltd. (ASX:GSC) is an Australian-based lithium-boron mine developer focused on its 100%-owned Rhyolite Ridge Lithium-Boron Project in Nevada, USA. Rhyolite Ridge is a large, shallow lithium-boron deposit located close to existing infrastructure. It is a unique sedimentary deposit that has many advantages over the brine and pegmatite deposits that currently provide the world’s lithium. The Rhyolite Ridge Pre-Feasibility Study is being managed by Amec Foster Wheeler (part of Wood plc).
Global Geoscience is aiming to capitalise on the growing global demand for lithium and boron. Lithium has a wide variety of applications, including pharmaceuticals, lubricants and its main growth market, batteries. Boron is used in glass and ceramics, semiconductors and agriculture. Global Geoscience aims to develop the Rhyolite Ridge Lithium-Boron Project into a strategic, long-life, low-cost supplier of lithium carbonate and boric acid. To learn more please visit: www.globalgeo.com.au.
