Birimian Ltd.

Drilling confirms new mineralised zone at high grade, Goulamina lithium deposit

Results from wide spaced drilling confirm discovery of a third highly mineralised pegmatite body at Goulamina – The Sangar Zone

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Birimian Limited (ASX:BGS; “Birimian” and “Company” -,2697,Company_Presentation/) is pleased to announce additional results from the second phase drilling program at the Goulamina deposit within its 100%-owned Bougouni Lithium Project (“Project”), southern Mali (Figure 1). With a current Mineral Resource at Goulamina of 15.5 Mt @ 1.48 % Li2O, for 229,000 tonnes of contained Li2O, the deposit is among the highest grade lithium deposits of significant size globally. The aim of the current drilling program is to expand the existing resource and enable upgrades to resource classifications for detailed feasibility assessments. All RC drilling has now been completed and the drill rig is demobilizing from site. A single diamond rig remains on site undertaking drilling at West Zone, which is expected to be completed within the next week. Sangar Zone Discovery Results have now been received for a further 14 RC holes (Figure 1). The latest assay results confirm the discovery of a third mineralised zone at Goulamina. This new and previously untested trend is situated approximately 200m to the south of, and parallel to, the West Zone. Results include; 25m @ 1.45%Li2O from 25m (GMRC068) 29m @ 1.65 % Li2O from 13m, and 36m @ 1.87 % Li2O from 63m (GMRC069) 34m @ 1.42 % Li2O from 28m (GMRC070) 26m @ 1.89% Li2O from 25m. and 12m @ 1.74% Li2O from 63m, and 12m @ 1.39% Li2O from 78m (GMRC071) 32m @ 1.85 % Li2O from 45m, and 26m @ 1.95 % Li2O from 80m (GMRC073) These latest results are from shallow and widely spaced RC drilling beneath scattered outcrops of spodumene bearing pegmatite. The highly promising near surface intersections remain open along strike and at depth, indicating good potential to expand resources in this area. Additional results from RC drilling on the northern extension of Main Zone include 16m @ 1.46%Li2O from 70m (GMRC075), and 12m @ 1.73 % Li2O from 82m (GMRC077); generally suggesting a narrowing of mineralisation to the north of Main Zone. The balance of the reported RC drilling is from up-dip and along strike holes at West Zone. A number of RC holes have not reached final target depth and are currently being extended with diamond drilling (see notes in Table 1). In total, 66 drill holes are awaiting final processing and return of assay results. Ongoing results will be reported as they come to hand. Forward Plan RC drilling was initially prioritised to focus on testing strike extensions at the West Zone and at other exploration targets to the south of the deposit. The last phase of the RC drilling, which is now complete, comprised 25m spaced infill sections over the Main and West Zones. Diamond drilling continues to test depth extensions to mineralisation at the West Zone, which is expected to be completed shortly, with analytical results expected in coming weeks. On 30 January 2017, Birimian announced that the Scoping Study for the Bougouni Lithium Project had confirmed the outstanding potential of the Project, leading to the decision to commence a Pre‐Feasibility Study (PFS). Scoping Study results suggest that the Goulamina deposit will be amenable to low cost, open pit mining and staged processing plant development; benefiting from low mining strip ratios, high grade at surface mineralisation, and the low cost operating environment in Mali. Figure 1. Goulamina Deposit. Plan view of lithium pegmatite with drill hole locations and reported drill intersections (red). In parallel with the ongoing drilling program, Birimian continues to advance a number of studies as it works towards completion of the PFS. Como Engineers are undertaking the next phase PFS processing engineering and flow sheet design. The Company believes there is potential to enhance the Project economics by: Optimising open pit mine designs Improving flowsheet design through the various PFS test work studies Further detailed analysis of transport and logistics options Definition of additional high grade mineralisation Drilling will pause briefly while the company undertakes resource estimation work and other resource related technical studies. The Company's strategy remains to expedite development of the currently defined resources at the Bougouni Project in lieu of targeting major resource expansions by drilling. The next phase of development drilling is currently being planned. This program will be designed to: Further upgrade resource categories Confirm geotechnical parameters for open pit mine planning Confirm plant, associated infrastructure, waste dump and Tailings Storage Facility locations The Company’s environmental consultants will be on site again in approximately one week time to undertake the next phase of detailed sustainability studies at the Project and in the broader community, which will facilitate some of the engineering studies defined above. Birimian is seeking to fast-track commercialisation of Bougouni. As such, the next key milestones to look forward to are the metallurgical test work and an upgraded resource estimate, both of which are expected to be completed in the current quarter. Following this, the PFS is expected to be completed in the June 2017 quarter, which will enable the Company to progress project financing and offtake arrangements, subject to a positive PFS result. For further information contact: Mr Kevin Joyce Managing Director 08 9286 3045 In Europe: Swiss Resource Capital AG Jochen Staiger

  • Birimian Ltd.: ISIN:AU000000BGS0, WKN:A1JQXE, FRA:N9F, ASX:BGS

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