Rapid Lithium Limited Unveils JORC-Compliant High‐Grade Silver & Base Metal Resource Update Amid Surging Metal Prices
Thursday, May 22, 2025
at
8:26 am
Rapid Lithium Limited has signed agreements to acquire high‐grade silver assets in northern New South Wales. The projects offer robust resource estimates and both underground and open-pit potential, positioning the company for expanded growth in a strong silver market.
The announcement presents an extensive technical dossier detailing exploration results for two significant projects, the Webbs Silver Project and the Conrad Silver Project. The document includes a comprehensive compilation of drilling data such as diamond core (DD) and reverse circulation (RC) drillhole intersections, complete with true width measurements, assay results, and silver equivalent calculations based on multiple metals. Detailed tables and figures illustrate long sections, plan views, and cross‐sections that outline the geometry of the mineralised zones, as well as the domains used in resource estimation. Standard industry practices have been followed throughout—with robust quality assurance, quality control protocols, and rigorous data validation in line with JORC Code requirements.
The report explains the estimation and modelling techniques used to derive resource measurements. Ordinary kriging and multi‐pass search estimation methods were deployed to interpolate metal grades and true widths, and the resulting mineral resource has been classified using both Indicated and Inferred categories. Assumptions regarding cut‐off grades, metallurgical recoveries (for example, using recovery rates of 90% for silver, copper, lead and zinc and 70% for tin), and bulk density measurements (determined via water immersion) are clearly laid out. The current metal pricing assumptions, which now exceed the levels used in previous estimates, are also highlighted, suggesting the potential for improved resource economics.
On the Webbs Silver Project side, the extensive drillhole database and associated geometallurgical information set the framework for a detailed understanding of the deposit’s continuity and grade distribution. In the Conrad Silver Project section, true width intersections—for both the primary mineralised shoots and the Greisen mineralisation zone—are presented, enhancing confidence in the long‐term resource model and providing valuable insight into both the high‐grade vein system and the broader disseminated zones.
Investors might view the release with bullish sentiment since the report demonstrates thorough technical work and adherence to established reporting protocols, which together reinforce the potential economic viability of the projects. Modern exploration techniques, combined with promising metallurgical test work and improved metal price assumptions, could translate into an attractive asset profile. On the other hand, some might take a more cautious view due to the inherent complexity and variability of the mineralisation, potential historical uncertainties in sampling and assay recovery, and the challenges of accurately modelling disparate geologic domains. Overall, while the data suggests significant upside potential, it also underscores the need for continued drilling and further testing to confirm resource continuity and optimize extraction strategies.