Birimian Limited (ASX:BGS; “Birimian” and “Company”) is pleased to announce initial results from the second phase drilling program at the Goulamina deposit within its 100%-owned Bougouni Lithium Project (“Project”), southern Mali (Figure 1).
- Substantial high grade lithium mineralization intersected in Reverse Circulation (RC) drilling extends the Goulamina West Zone
- 80m @ 1.48%Li2O from 43m
- 44m @ 1.75 % Li2O from 82m, and
- 23m @ 1.97 % Li2O from 129m
- 45m @ 1.72 % Li2O from 57m
- 22m @ 1.89% Li2O from 14m
- Original planned 10,000m of drilling now complete. Drill rigs remain active on site following up and extending recent results.
- Analytical results pending for the majority of holes
- Pre-Feasibility Study commenced
- Mineral Resource update anticipated in March 2017
With a 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 current drilling program has been designed to expand the existing resource and enable upgrades to resource classifications for detailed feasibility assessments.
Two diamond rigs and an RC rig are currently on site and have completed the original planned 10,000 metres of drilling. Given the early encouraging signs, the programme has been extended to incorporate additional drilling in selected priority areas.
Results have now been received for nine (9) RC holes targeting strike extensions at Goulamina West Zone (Figure 1). These shallow step-out RC drill sections have intersected wide zones of high-grade lithium mineralisation, confirming the near surface and depth continuation of lithium prospective rocks and substantially expanding the potential resource in this area.
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 nearing completion, comprises 25m spaced infill sections over the Main and West Zones. Diamond drilling continues to test highly promising depth extensions to mineralisation at the West Zone. Drilling is expected to be completed in approximately two weeks. Analytical results will be announced as they come to hand over coming weeks.
Assay results for the first nine (9) RC holes drilled to target extensions to West Zone have returned substantial intersections of wide and high-grade lithium mineralisation, which confirm significant potential to expand the existing resource in this area. Results include;
- 44m @ 1.75 % Li2O from 82m, and 23m @ 1.97 % Li2O from 129m (GMRC061)
- 80m @ 1.48 % Li2O from 43m (GMRC060, ended in mineralisation)
- 45m @ 1.72 % Li2O from 57m (GMRC059)
- 22m @ 1.89% Li2O from 14m (GMRC062)
- 15m @ 1.86% Li2O from 53m, and 11m @ 1.77% Li2O from 71m (GMRC063)
- 18m @ 1.72% Li2O from 37m (GMRC064)
- 21m @ 1.66% Li2O from 69m (GMRC065)
- 26m @ 1.64% Li2O from 37m (GMRC066)
Notably, assay tenor is appreciably higher than the current modelled global resource grade, and near surface intersections remain open along strike and at depth, indicating further potential to define high-grade mineralisation by undertaking additional drilling in this area. Diamond drilling is currently in progress to test adjacent depth extensions.
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.
In parallel with the ongoing drilling program, Birimian continues to advance a number of studies as it works towards completion of the PFS. 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
- Expansion and discovery of additional mineralisation
A development drilling program is being planned with the assistance of the Company’s technical consultants. This program will be designed to:
- Further expand the project resource base
- Substantially upgrade resource categories
- Confirm geotechnical parameters for open pit mine planning
- Confirm plant, associated infrastructure, waste dump and Tailings Storage Facility locations
Birimian is seeking to rapidly expedite commercialisation of Bougouni. To this end, the Company anticipates that metallurgical test work and an upgraded resource estimate will be completed in the current quarter, with the PFS released in the June 2017 quarter.
For further information contact:
Mr Kevin Joyce
08 9286 3045
Competent Persons Declaration
The information in this announcement that relates to exploration results is based on information compiled by or under the supervision of Kevin Anthony Joyce. Mr Joyce is Managing Director of Birimian Limited and a Member of the Australian Institute of Geoscientists. Mr Joyce has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results. Mr Joyce consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information in this announcement that relates to Mineral Resources is based on information compiled by or under the supervision of Mr. Matt Bampton, who is a Member of The Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Bampton is a full-time employee of Cube Consulting Pty Ltd and has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results. Mr Bampton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears
Previous Reported Results
There is information in this announcement relating to previous Exploration Results at the Bougouni Project. The Company confirms that it is not aware of any other new information or data that materially affects the information included in the original market announcement, and that all material assumptions and technical parameters have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
Forward Looking Statements
Statements regarding plans with respect to the Company’s mineral properties are forward looking statements. There can be no assurance that the Company’s plans for development of its mineral properties will proceed as expected. There can be no assurance that the Company will be able to confirm the presence of mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company’s mineral properties.
- Birimian Ltd.: ISIN:AU000000BGS0, WKN:A1JQXE, FRA:N9F, ASX:BGS