Neometals {ASX: NMT} have reported that Snowden Mining Consulting have reviewed favourably the recent drilling results,and have revised the resource estimate of contained lithium content upwards by 29.5% to 77.8 million tons.

Neometals {ASX: NMT} have reported that Snowden Mining Consulting have reviewed favourably the recent drilling results,and have revised the resource estimate of contained lithium content upwards by 29.5% to 77.8 million tons.

Snowden Mining Industry Consultants has reviewed results of recent drilling and provided a revised Mineral Resource estimate as at 21 October 2016 resulting in increases to Indicated and Inferred Mineral Resources now totaling 77.8 Mt at 1.37% Li2O and 1.09% Fe; reported above a cut‐off grade of 0.5% Li2O.

The previous Mineral Resource estimate released on 5 July 2016 was 60.5 Mt at 1.36% Li2O and 1.09% Fe; reported above a cut‐off grade of 0.3% Li2O.

The revised estimate represents an increase in contained Lithium content of 29.5% with a slightly increased cut‐off grade to align with pit optimisation parameters as applied by Snowden.

The full announcement can be viewed here:
http://www.neometals.com.au/reports/686-1610443.pdf