Lithic Resources Ltd. is a Canadian based metals explorer with a 100% interest in the advanced stage West Desert zinc-copper-silver-gold project located in Utah. The West Desert project has a near surface oxide resource and a large, underlying sulphide resource.
A Preliminary Economic Assessment completed in 2010 focused solely on the underground mining potential of the sulphide resources. A new Preliminary Economic Assessment on the West Desert project is evaluating the following opportunities and potential improvements:
- Potential open pit mining of the oxide resources
- Potential revenue generation from by-product iron recovered from sulphide tailings
- Optimization of potential underground mining and refinement of capital requirements
- Impacts of improved metals prices and smelter terms
The West Desert deposit is open in several directions with good potential for resource expansion. The Project is fully permitted and bonded for drilling.
The shares of Lithic Resources trade on the TSX Venture Exchange under the symbol LTH.