Mali Lithium Ltd (ASX:MLL) has encountered additional, thick high grade mineralisation at its flagship Goulamina Lithium Project in southern Mali as part of its current RC drilling programme.
Managing Director Chris Evans said the company is “extremely pleased” with the drilling thus far, with numerous additional mineralised pegmatite intersections having been discovered.
These are in many cases extensions to previously known pegmatites and indicate the potential to improve significantly the size of, and level of confidence in, the Goulamina Mineral Resource. Best results include 44m at 1.76% Li2O from 159m, 50m at 1.60% Li2O from 137m and 39m at 1.84% Li2O from 36m.
A Mineral Resource update for Goulamina is currently anticipated around the end of March 2020. A new Ore Reserve estimate that will be incorporated into the Definitive Feasibility Study (DFS) currently underway on the project is expected approximately four weeks later, at the end of April.
Along with revising the Mineral Resource and Ore Reserve, the current drilling programme is testing geophysical and structural hydrological targets within Goulamina and aiding in the completion of geotechnical testwork relating to the construction of the process plant and tailings storage facility.
“In the current market, maximising the project value and further distinguishing Goulamina as a world leading Resource makes complete sense,” Mr Evans said.
We look forward to doing this through the delivery of the DFS and moving ahead with the project development from there.”