Leo Lithium’s Goulamina Resource increased to 142.3 Mt
Leo Lithium has revealed a significant improvement to the estimated mineral resources of its Goulamina Lithium Project in Mali.
A resource definition drilling campaign was undertaken in H2 2022 on pegmatite dykes in the south-west of the Goulamina Lithium Project, part of the Danaya Domain (Danaya).
The recently completed assessment of drilling results and the updated MRE for Danaya has increased the Danaya MRE by 152%, from 22.3 Mt to 56.1 Mt and the total Goulamina resource base by 31% from 108.5 Mt at 1.45 % Li2O to 142.3 Mt.
Goulamina Lithium Project Mineral Resource Estimate summary (no reporting cut off applied) – January 2023
“We are pleased to report a considerable resource upgrade which confirms the outstanding scale, high-grade nature, and further growth potential of the Goulamina Project. An increase in Danaya of 33.8 Mt from a moderate drilling campaign of approximately 12,700 meters, is a fantastic outcome. These results continue to reveal high-grade, thick intercepts and confirm our expectations of multiple, wide mineralized pegmatite zones.
Also, the deposit remains open at depth and along strike, creating new drilling targets for the team. This significant upgrade also supports the possible extension of the 23-year mine life of the Goulamina Project.
Resource definition drilling continues on the Northeast Domain with drilling results to be announced shortly, and a Mineral Resource estimate subsequently set to be restated in the current half year.
These results are also encouraging ahead of first spodumene concentrate product in Q2 2024 and the early revenue opportunity from the targeted export of direct shipped ore in H2 2023,” commented Simon Hay, Leo Lithium Managing Director.
The Danaya Mineral Resource has increased by 152% to 56.1 Mt @ 1.24% Li2O. The Indicated resource classification at Danaya increased by 213% to 24.4 Mt @ 1.34%
At Danaya, infill drilling and resource extension drilling has resulted in a re-interpretation of the Danaya geology. The structural and geological information from the drilling campaign has been used to update the geological model which builds the framework for this resource update.
The Danaya Domain consists of a Spodumene Pegmatite dyke swarm, which is striking North Northwest and is moderately to steeply dipping to the East. The dykes are currently modelled to a strike length of 1700m with individual true dyke widths of up to 70 m. The pegmatites are characterised by typical pinching and swelling.
The Project is scheduled to be mined using conventional open-pit mining methods involving drilling, blasting, loading and hauling. The Danaya Mineral Resource is reported above a WhittleTM optimized put shell (at US$1250) to determine the extent of resources that have reasonable prospects for eventual economic extraction.
