No denying the quality of this West African lithium project
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Special Report: Mali Lithium (ASX: MLL) is continuing to receive resounding confirmation of the quality of its Goulamina Lithium Project through drilling as it moves towards completion of a definitive feasibility study (DFS) on the proposed operation.
The company announced another batch of results from the recently completed reverse circulation (RC) drilling program at Goulamina on Thursday, with plenty of thick, high grade lithium intercepts among them.
The best included 72m at 1.66% lithium oxide (Li2O) from 23m, 71m at 1.73% Li2O from 126m, 64m at 1.85% Li2O from 121m and 81m at 1.26% Li2O from 133m.
“Through this drilling program, we continue to improve our confidence in the ore body and encounter high grade intersections, particularly from the Sangar I and Sangar II domains,” Mali Lithium managing director Chris Evans said.
Results for approximately 70% of the assays from the drilling program have now been received and the company has begun validating and analysing the data collected as part of the process that will lead to the estimation of an updated Mineral Resource.
From there, Mali Lithium anticipates the publication of an updated Ore Reserve for Goulamina followed shortly by the release of the DFS for the project.
Goulamina currently has a Mineral Resource of 103.2 million tonnes at 1.34% Li2O and a Probable Ore Reserve of 31.2 million tonnes at 1.56% Li2O, which qualifies as Africa’s largest hard rock lithium reserve.
Again reinforcing the quality of the deposit, the grade of the reserve stands out as the best among lithium development projects around the world ahead of the likes of Wesfarmers’ Mt Holland project in WA.
An updated pre-feasibility study on Goulamina released in July 2018 envisaged the development of an open pit mine feeding a two million tonne per annum mill to produce 362,000 tonnes of 6% spodumene concentrate a year for a minimum of 16 years.
The capital required for such a development was estimated at $196 million including contingencies.