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Rio Tinto has disclosed to the Australian Securities Exchange a maiden Ore Reserve and updated Mineral Resource at the 100% owned Jadar lithium-borates project in western Serbia. The Ore Reserve is 16.6 Mt at 1.81% Li2O and 13.4% B2O3.
The Mineral Resource underlying the maiden Ore Reserve has been updated to incorporate additional drilling which resulted in an updated geological model. Mineral resources are reported exclusive of Ore Reserves.
The Mineral Resource comprises 55.2 Mt of Indicated Resource at 1.68% Li2O and 17.9% B2O3 with an additional 84.1 Mt of Inferred Resource at 1.84% Li2O and 12.6% B2O3.
The update precedes the release of the project's 'Elaborate of Resources and Reserves', reporting required under the Serbian Reporting Code YU53/79.
The company said declaration of resources and reserves is an important milestone as the project progresses towards the award of an exploitation license, the precursor to a construction licence.
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