Australian lithium producer Pilbara Minerals (ASX: PLS) today announced a further substantial increase in the mineral resource at its flagship 100%-owned Pilgangoora lithium-tantalum project in WA's Pilbara region to 308.9 million tonnes, reinforcing its position as the world's premier hard rock lithium operation.

According to the company's statement, the updated mineral resource, which represents a 39% increase in total resource tonnage compared with the depleted resource statement as at 30 June 2020, now comprises a total of 308.9 million tonnes grading 1.14% Li2O and 105 ppm Ta2O5, containing 3.5 million tonnes of lithium oxide and 71.7 million pounds of Ta2O5.

The upgraded mineral resource includes all of the results from the 2021 exploration and development drilling campaign adjacent to the historical Altura tenement boundary, together with the integration of the mineral resource for the former Altura lithium operations acquired earlier this year.

Pilbara said that additional resources defined from the 2021 exploration program will lead to an expansion in the mining envelope and pit inventory of the combined South Pit areas, with 'outstanding' potential for further growth with ongoing drilling.

The new integrated mineral resource will underpin a new ore reserve estimate for Pilgangoora, scheduled for completion by October 2021, the company added in its statement.

CEO Ken Brinsden commented, 'This landmark resource upgrade is another clear indication of Pilgangoora's position as the world's premier hardrock lithium asset. The scale of the endowment is quite remarkable, with the integration of the adjoining Ngungaju resource, combined with highly successful development and drilling programs, taking our resource inventory well and truly to the next level.'

Pilbara Minerals is the leading ASX-listed pure-play lithium company, owning 100% of the world's largest, independent hard-rock lithium operation. Located in Western Australia's resource-rich Pilbara region, the Pilgangoora operation produces a spodumene and tantalite concentrate.

Contact:

Tel: +61 8 6266 6266

Fax: +61 8 6266 6288

(C) 2021 Electronic News Publishing, source ENP Newswire