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Blenheim Natural Res (BNR)

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Monday 16 October, 2017

Blenheim Natural Res

15 Lithium Target Areas identified in Mali

RNS Number : 6250T
Blenheim Natural Resources PLC
16 October 2017
 

16 October 2017

Blenheim Natural Resources PLC

("Blenheim" or the "Company")

15 Lithium Target Areas identified in Mali

Blenheim (AIM: BNR) is pleased to announce that the Regional Desktop Targeting Study has been completed by Southern Geoscience Consultants and 15 priority target areas for lithium pegmatites have been identified on 4 prospective lithium permits, located in the Bougouni region of southern Mali, West Africa, in which the Company maintains interests through its 30% holding in Nashwan Holdings Limited ("Nashwan") and 40% interest in Mansa Lithium Inc ('Mansa').

 

The targets were generated on the Dieba, Nimissila, Djidje and Menianbala permits ('Bougouni Lithium Project'), which cover 371 sq km.  These permits are located contiguous with or near to the Goulamina Lithium project, where Birimian Limited (ASX: BGS) recently announced the results of a Pre-Feasibility Study (PFS) and the Bougouni Project, where Kodal Minerals plc (LSE: KOD) is undertaking further drilling to evaluate recent high-grade lithium discoveries.

 

Blenheim's Chairman, Chris Ells, commented: "The Regional Desktop Targeting Study has now been completed and encouragingly identified 15 priority target areas. This clearly underlines the prospective nature of the licences and represents a further step forward in building value in the project.  The results recently announced by Kodal and Birimian have already shown that not only is this region of southern Mali highly prospective for pegmatite hosted lithium mineralisation but also that the Goulamina deposit is economically viable. We believe that our assets have similar potential.  Indeed, with Chinese interest in both Birimian and Kodal, the region appears to be turning into a significant lithium province. With a follow up programme due to commence immediately, we look forward to further updates in the months to come and hopefully before the end of 2017." 

 

Highlights

·    15 priority target areas for lithium pegmatites were identified from the recent study of existing geophysical, remote sensing and geological data.

·    The study confirms the highly prospective nature of southern Mali for lithium.

·    Target areas were proposed for follow-up based on their structural, lithological, geophysical and remote sensing characteristics. 

·    The study has greatly improved on existing geological maps over the permits. 

·    The targeting process used the signatures of known pegmatite outcrops at the Goulamina Project, which is located directly south of the Dieba Permit and within a 50km radius of the other 3 permits.

·    Follow on exploration to locate lithium pegmatites will commence immediately, including mapping of pegmatite outcrops, soil geochemistry and preparation of a first-pass auger drill programme.

 

 

Background: Lithium in Mali   

Southern Mali has emerged as a highly prospective lithium province where rapidly maturing exploration projects owned by Birimian Limited ("Birminian", ASX:BGS) and Kodal Minerals plc ("Kodal", AIM: KOD) are creating a critical mass of lithium exploration projects.

 

Birimian's Bougouni lithium project contains a reported JORC Mineral Resource of 32.9Mt at 1.37 per cent. Li2O for 451,000 tonnes of contained Li2O at 0.4 per cent. cut-off.  Kodal has yet to announce a resource, but has reported wide, high-grade lithium pegmatite drill intersections from its Kassokoro permit.  Kodal also recently announced initial flotation test results on drill chips from its Kassokoro permit showing that high-grade lithium (spodumene) concentrate, of suitable quality for producing lithium carbonate with low levels of impurities, had been produced from initial beneficiation test results, with recoveries of 80 per cent. to 87 per cent.

 

Further information on Mansa

Blenheim has a 40% interest in Mansa, which holds the Dieba exploration permit.  In addition, Mansa has the right to acquire an 80 per cent. initial indirect interest in the Nimissila exploration project in southern Mali, which is owned by La Societe Omnium Invest SA ("Omnium").  Further details of the Nimissila permit and Mansa's right to acquire an 80 per cent. interest in this permit are set out in the Company's announcement dated 3 July 2017.  The Dieba exploration permit and the Nimissila exploration permit abut licences with known lithium pegmatites.

 

Nashwan Holdings Ltd investment update

Blenheim holds a 30 percent interest in Nashwan.  Nashwan has applied for exploration permits over the Djidje and Menianbala licence areas in the Republic of Mali, which it currently holds under prospecting permits.  Nashwan has advised the Company that the procedures for grant of the exploration permits for both areas are close to completion. 

 

Competent Persons Statement

The exploration results and activity reported in this announcement are based on information compiled by Mr Michael Cantey (BSc Geology, Member of the Australasian Institute of Geoscientists).  Mr Cantey is a full-time employee of Sahara Mining Services and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activities undertaken to qualify as a Competent Person under AIM Guidance for Mining and Oil & Gas Companies and as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.  Mr Cantey consents to the inclusion in the release of the statements based on his information in the form and context in which they appear.

 

 

 

 

 

 

 

**ENDS**

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

For further information please contact:

 

Chris Ells

Blenheim Natural Resources Plc

+44 (0)1622 844601

 




Neil Baldwin/Mark Brady

Spark Advisory Partners

+44(0)203 368 3554




Nick Emerson

SI Capital Ltd

+44 (0)1483 413500

Lucy Williams / Duncan Vasey

Peterhouse Corporate Finance Limited

+44 (0)207 469 0932

Nick Bealer

Cornhill Capital Limited

+44 (0)207 710 9610

 

 

 

 



 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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