Berkeley Energia (LSE:BKY) has reported a maiden Mineral Resource Estimate for its wholly owned Conchas project in Spain, part of the company's critical minerals exploration push in the country.
The resource totals 11.8 million tonnes at 0.41% lithium oxide (Li2O) and 0.21% rubidium oxide (Rb2O), equating to roughly 49,000 tonnes of contained lithium oxide and 25,200 tonnes of contained rubidium oxide.
The entire estimate sits in the inferred category, the lowest confidence tier under the JORC Code, and was prepared by independent consultants Maja Mining Limited.
Conchas covers 31 square kilometres in Salamanca province near the Portuguese border, with mineralisation hosted in a muscovitic leucogranite unit alongside accessory tin, caesium, beryllium, niobium and tantalum.
Mineralisation starts at surface and remains open at depth, and the deposit is amenable to bulk-tonnage open-pit mining, according to the company.
Preliminary metallurgical testwork using flotation and magnetic separation delivered what Berkeley called very good recoveries of lithium and rubidium at acceptable grades.
Rubidium is classified as a critical mineral in the US, Japan and New Zealand given its use in defence, aerospace, communications and renewable energy applications, while lithium carries EU designation as both a critical and strategic material.
"This initial Mineral Resource Estimate is a significant milestone for the company's Critical Minerals Exploration Initiative in Spain and clearly demonstrates the significant potential of the Conchas Project," said Executive Director Robert Behets.
Berkeley plans further infill drilling to upgrade the resource classification and a second phase of metallurgical testwork to optimise the flotation and magnetic separation processes.
News Intelligence what this means for the company
Berkeley Energia has announced a maiden inferred resource of 11.8 million tonnes grading 0.41% lithium oxide and 0.21% rubidium oxide at its Conchas project in Spain, containing roughly 49,000 tonnes of lithium oxide and 25,200 tonnes of rubidium oxide. The entire estimate sits in the lowest JORC confidence category (inferred), mineralisation is open at depth, and the company plans infill drilling to upgrade classification and further metallurgical work to optimise processing—typical early-stage exploration milestones that do not yet establish economic viability or reserve status.
The resource announcement is exploratory validation rather than a development catalyst: all tonnes are inferred, no economic study has been conducted, and the path to higher-confidence categories and commercial production remains dependent on drilling success and permitting. Rubidium's critical mineral status may further support long-term demand, but near-term value hinges on resource upgrade and metallurgical confirmation at scale.
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