Lithium and gold developer Mali Lithium Ltd (ASX: MLL) has announced further encouraging updates from its Goulamina Lithium Project in Mali, West Africa.
The company reported that the grade of Li2O mineralised intercepts being realised from the recently completed RC drilling program continues to improve.
Best new results include 72m @ 1.66% Li2O from 23m and 71m @ 1.73 % Li2O from 126m.
MLL said that the drill results are expected to improve confidence in the Ore body
The Goulamina Lithium Project comprises a land holding of 100 km2 covering highly prospective hard rock lithium pegmatites in the Bougouni Region of southern Mali, approximately 150km by road from Mali’s capital, Bamako.
Important deposits of the project include Main, West, Sangar I, Sangar II, and Danaya.
The company is currently completing its Definitive Feasibility Study and has released the results of its Pre-Feasibility Study (PFS) on the project. According to the PFS, the Project is scoped to produce 362,000tpa of 6% Li2O spodumene concentrate.
RC drilling at Goulamina
The company had recently commenced RC drilling at the Goulamina Lithium Project.
Encouraging drill results were reported last month, on 13 February 2020, wherein the drilling returned additional wide, high-grade intersections from the Sangar I and II spodumene pegmatites, and a new spodumene pegmatite has also been intersected at the Bara prospect 1.2 km south of Danaya.
Results included 25m at 1.97% Li2O from 134m (GMRC365), 52m at 1.44% Li2O from 155m, 49m at 1.82% Li2O from 115m (GMRC369), and 34m at 1.81% Li2O from 136m (GMRC371).
The company has now announced further positive drilling results.
High-grade results reported
The company reported that the quality of Lithium Oxide (Li2O) mineralised intercepts being realised from the recently completed RC drilling program continues to improve at the Project.
Best new results since the update on the Project on 13 February 2020 include 72m @ 1.66% Li2O from 23m (GMRC365); 71m @ 1.73 % Li2O from 126m (GMRC383); 64m @ 1.85 % Li2O from 121m (GMRC378); 81m @ 1.26 % Li2O from 133m (GMRC365); 48m @ 1.82 % Li2O from 17m (GMRC369); and 49m @ 1.82 % Li2O from 115m (GMRC369).
Schedule still on track
Mali Lithium reported that the results for approximately 70% of assays have now been received. MLL said that the remainder of assays and the results of optical downhole surveys have experienced some delays due to the unprecedented conditions being experienced globally.
The company said that every effort will be made to meet the previously advised timetable for an updated Mineral Resource, Ore Reserve and the Definitive Feasibility Study (DFS) despite these delays.
MRE for Goulamina
The company announced that the data validation, and statistical analysis has now commenced, leading up to estimation of a new Mineral Resource Estimate (MRE) for the Main, West l, West ll, Sangar l, and Sangar ll domains and will be used to inform the DFS. The company said that an update to the Danaya MRE will be completed once additional data is received.
MLL Managing Director Chris Evans said: “Through this drilling program we continue to improve our confidence in the ore body and encounter high grade intersections particularly from the Sangar l and Sangar ll domains.
We look forward to publishing the updated Mineral Resource shortly, followed by the Ore Reserve and DFS in May.”