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- Mali Lithium (MLL) has substantially increased the mineral resource estimate at its wholly-owned Goulamina Lithium Project in Mali, West Africa
- The new measured, indicated and inferred resource mineral resource estimate now sits at 108.51 million tonnes at 1.45 per cent lithium dioxide for 1.57 million tonnes
- This represents a six per cent increase to the global mineral resource released in June 2018
- The measured and indicated resource are 64.6 million tonnes at 1.49 per cent lithium dioxide for 0.964 million tonnes of contained lithium dioxide
- This marks a significant 48 per cent increase to measured and indicated resources
- Mali is now moving towards an ore reserve estimation and mine design
- Company shares have dropped a slight 3.57 per cent and are trading for 13.5 cents each
Mali Lithium (MLL) has completed a new mineral resource estimate at its wholly-owned Goulamina Lithium Project in Mali, West Africa.
The Goulamina Lithium Project covers an area of 100 square kilometres which comprises highly prospective hard rock lithium pegmatites in the Bougouni Region of Southern Mali.
The new measured, indicated and inferred resource mineral resource estimate now sits at 108.51 million tonnes at 1.45 per cent lithium dioxide for 1.57 million tonnes contained lithium dioxide.
This global resource marks a six per cent increase from the mineral resource estimate released in a pre-feasibility study (PFS) in June 2018.
Measured and indicated resources are 64.6 million tonnes at 1.49 per cent lithium dioxide for 0.964 million tonnes of contained lithium dioxide.
This new resource represents a significant 48 per cent increase in measured and indicated resources.
“It is promising to see both the size and quality of the Goulamina Resources improve,” Managing Director Dr Alistair Cowden said.
The new measured and indicated resources will be included in a new ore reserve estimate that is being conducted for the Goulamina Definitive Feasibility Study (DFS).
“We will endeavour to complete the Ore Reserve and the Definitive Feasibility Study as soon as possible, now that COVID-19 delays are behind us,” Cowden added.
The DFS is expected to take roughly two months and Mali expects a material improvement to PFS ore reserves and the mine life.
Company shares have dropped a slight 3.57 per cent and are trading for 13.5 cents each at 11:10 am AEST.
