Pilbara Minerals lifts Pilgangoora lithium resource by 23% on the back of grade and tonnage gains
Pilbara Minerals (ASX: PLS) has recorded a 23% increase in the contained lithium resource at its fully owned Pilgangoora operation in Western Australia’s Pilbara region, solidifying its position as one of the world’s largest hard-rock lithium operations.
The new resource estimate includes a 39 million tonne increase in the total measured, indicated and inferred numbers.
They now sit at 446Mt at 1.28% lithium oxide, 122 parts per million tantalum pentoxide and 0.59% iron oxide, containing 5.7Mt of lithium oxide and 120 million pounds of tantalum pentoxide.
Down-dip extensions
The updated resource includes all results from the FY24 and FY25 drilling campaign of 364 holes that targeted down-dip extensions over a continuous strike length of more than 7 kilometres.
Pilbara Minerals said the increase in contained lithium oxide is due to a 10% rise in tonnage, a 12% improvement in grade and a 14% increase in the total measured and indicated mineral resource.
The measured and indicated numbers of 376Mt grading 1.29% lithium oxide, 119ppm tantalum pentoxide and 0.59% iron oxide contain 4.8Mt of lithium oxide and 99 million pounds of tantalum pentoxide.
Optimised operating base
“This outcome is aligned with our strategy to optimise the operating base and unlock the full potential of this world-class asset, driving long-term value for our shareholders,” Pilbara chief executive officer Dale Henderson said.
“The upgrade further consolidates Pilbara’s position as a leading global lithium supplier [and] reflects the fundamental strengths of our business—large-scale, high-quality assets, disciplined operations, a diversified supply chain and a strong balance sheet.”
“These strengths provide the resilience to navigate current market conditions while preserving the flexibility to scale as the lithium market transitions to its next phase.”
Pilbara believes that significant exploration potential remains at the Pilgangoora operation, with mineralisation remaining open along strike including at the “bridge zone” between the Central Area and North Area that it is yet to test below 200m depth.