Lithium Resources & Reserves

The Mineral Resources were estimated based on the following geological and resources block modeling parameters which are based on the Memorandum received from SGS Geostat, dated January 22, 2014:

  • Mineral resources were evaluated from the diamond drill holes and channels analytical results completed by Nemaska since 2009. Historical drill holes and channels were not used for the current mineral resources estimate. A total of 479 drill holes/channels and 9,358 assays were used for the mineral resources model.
  • The mineral resources 3-D modeling of mineralized pegmatite dyke was conducted using a minimal modeling grade of 0.50% Li2O over a 2m horizontal thickness.
  • The interpolation was conducted using composited assays of 2m in length. The Mineral Resources were modeled and estimated using Genesis© software.
  • Block Model Interpolation was done using Ordinary Kriging. The block model was defined by a block size of 5m long by 3m wide by 5m thick and covers a strike length of 1,315 m to a maximal depth of 520 m below surface.
  • The In-pit Mineral Resources were limited inside an optimized pit shell. The interpolated blocks of the model located below the optimised pit shell are not included in the updated Mineral Resources. The In-pit Mineral Resources reach 320 m below surface (maximum depth of optimised pit).
  • The cut-off grade of the reported Mineral Resources is 0.43% Li2O.



In-Pit Mineral Resources - Whabouchi Project

Resource  Category Tonnage (t)*  Li2O Grade (%)
Measured 12,998,000 1.60
Indicated 14,993,000 1.54
Measured + Indicated 27,991,000 1.57
Inferred 4,686,000 1.51


*Note: The mineral resources estimate has been calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definitions Standards for mineral resources in concordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are exclusive of the Measured and Indicated resources.

Bulk density of 2.70 t/m3 is used. Effective date January 22, 2014. * Rounded to the nearest thousand.

The Mineral Reserve estimate was prepared by Met-Chem, using the updated Mineral Resource block model. The Mineral Reserves are included in the Measured and Indicated Mineral Resources that have been identified as being economically extractable and which incorporate mining losses and the addition of waste dilution.



Mineral Reserves - Whabouchi Project

Reserve Category Tonnage (Mt) Li2O Grade (%)
Open Pit
Proven 11.7 1.58
Probable 8.3 1.46
Proven and probable 20. 1.53
Underground
Proven 1.6 1.27
Probable 5.7 1.29
Proven and probable 7.3 1.28


Reserves categories are compliant with Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definitions Standards for mineral resources in concordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The cut-off grade for the open pit Mineral Reserves Li2O ≥ 0.43% and the cut-off grade for the underground Mineral Reserves is Li2O ≥ 0.80%.

The effective date of the Mineral Reserves estimate is May 13, 2014. * Rounded to the nearest thousand.