Leo Lithium roars with further positive drilling results at Goulamina Project, Mali

Pure play lithium company Leo Lithium (ASX:LLL) has recorded further ‘high-grade’ results in a resource drilling program at the Goulamina Lithium Project in Mali.

The company reports the resource drilling program at Goulamina is aiming to increase the confidence level of the orebody, as well as converting a ‘significant’ amount of inferred resources into the indicated resource category.

An additional objective is to increase the overall resource base at the project, and Leo notes progress to meeting both objectives remains on plan. Leo says drilling is ongoing and has entered a new phase focused on testing potential northern strike extensions.

Leo reports further drilling results are expected in the coming months, and an updated MRE for Goulamina is expected before the end of the June 2023 quarter.

The company says exploration RC drilling and sterilisation drilling is continuing with a single RC rig. Further drilling results from the NE and Danaya domains will be reported once they have been received and reviewed throughout Q2 2023.

At the NE Domain, Leo reports a ‘substantial’ reverse circulation (RC) and diamond drilling program has been completed. The company says assays for 59 RC holes have been received, and notes assays for the diamond core tails are still pending and will be released to the market when they become available.

‘Significant’ RC results include hole GMRX599D with 71m @ 2% lithium oxide (Li2O) from 18m; GMRC555 with 54m @ 1.48% Li2O from 64m; and GMRC579D with 62m @ 1.77% Li2O from 48m.

Commenting on the results, Leo Lithium Managing Director, Simon Hay says: “The latest set of results from our ongoing drilling campaign are again set to enhance the already high-quality Goulamina resource.

The Li2O grades received from the combined Danaya and NE Domain targets are overall higher than the current average Mineral Resource Estimate (MRE) grades for Goulamina.

“This is a fantastic result and positions us to deliver a robust MRE upgrade by the end of the current half year”

This is a fantastic result and positions us to deliver a robust MRE upgrade by the end of the current half year. With the high-grade mineralisation remaining open along strike, there is further growth potential ahead as we test potential northern strike extensions this quarter.”

Leo also reports that results have been received from 15 drillholes at the Danaya Domain. The company says new diamond core results show ‘excellent’ grades and pegmatite down-dip continuity.

The Danaya pegmatites are open at depth and along strike, while thick ‘high-grade’ downhole intercepts below the current reasonable prospects for eventual economic extraction (RPEEE) optimised resource pit shell have demonstrated the down-dip potential of Danaya.

‘Significant’ results recorded at Danaya include GMRC534D with 115.7m @ 1.74% Li2O from 147.6m; GMDD016 with 73.5m @ 1.64% Li2O from 199.17m; and GMDD019 with 37.2m @ 1.62% Li2O from 116.2m.

Leo Lithium is an Australian pure-play lithium company developing the Goulamina Lithium Project in Mali. Goulamina is expected to come online in 2024 to supply lithium to the lithium-ion battery industry. Once this occurs, Leo will be West Africa’s first spodumene producer.

Images: Leo Lithium Ltd
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.