Pilgangoora Mineral Resource Update
| Stock | Pilbara Minerals Ltd (PLS.ASX) |
|---|---|
| Release Time | 11 Jun 2025, 8:21 a.m. |
| Price Sensitive | Yes |
Pilgangoora Mineral Resource Update Delivers 23% Increase in Contained Lithium
- 2025 Mineral Resource update reinforces Pilgangoora as one of the largest hard rock lithium operations globally
- 23% increase in contained lithium oxide due to 10% increase in tonnage and 12% improvement in grade
- Significant exploration potential remains, with mineralisation open along strike and at depth
Pilbara Minerals Ltd (PLS) is pleased to announce a significant increase in the Mineral Resource at its 100%-owned Pilgangoora Operation in Western Australia's Pilbara region. The updated Mineral Resource, which represents a 10% increase in total Mineral Resource tonnage and a 23% increase in contained lithium oxide compared to the 30 June 2024 statement, now contains 5.7Mt of lithium oxide at an increased grade of 1.28% Li2O. The increase is primarily due to the application of a revised Pit Optimisation assessment, significant exploration success in the Central area, and changes within the South and North areas of the Mineral Resource. The FY24 and FY25 drilling programs, comprising 364 holes and 104,672m of drilling, were successful in upgrading Inferred Mineral Resources and testing extensions of the key pegmatite domains. Multiple high-grade zones were returned, with some of the best intercepts including 83m at 1.46% Li2O and 67m at 1.56% Li2O. The updated Mineral Resource is divided into three spatial areas - South, Central, and North - and is reported using a 0.2% Li2O cut-off. Additionally, an Exploration Target of 76Mt to 102Mt at 1.1% to 1.5% Li2O and 144 to 192ppm Ta2O5 has been identified, with significant exploration potential remaining, particularly in the 'Bridge Zone' between the Central and North areas.
The updated Mineral Resource contains 5.7Mt of lithium oxide at an increased grade of 1.28% Li2O, as of 31 March 2025.
Pilbara Minerals remains focused on optimising the Pilgangoora Operation and unlocking its full potential as a world-class lithium asset, driving long-term value for shareholders. A staged drilling program is planned to convert unclassified tonnes and test the Bridge Zone, once market conditions are more favourable.