VANCOUVER (miningweekly.com) – ASX-listed explorer Birimian Gold has agreed to sell its Bougouni ‘Goulamina’ lithium project, in Mali to Shandong Mingrui Group for A$107.5-million in cash.
Birimian’s letter of intent requires a deposit for A$10.75-million by January 20.
Birimian, which is advancing the highest-grade lithium deposit held by an ASX-listed
company, has estimated Bougouni to host 15-million to 18-million tonnes of rock grading 1.8% to 2.2% lithium oxide (LiO2), for 229 000 t of contained lithium metal.
A second-phase programme, comprising 10 000 m of drilling at Goulamina remains on track for completion by end-January, with initial assay results to follow. The current schedule provides for an updated resource estimate later in the first quarter, which is expected to lead to a prefeasibility study and maiden reserve in the second quarter.
Meanwhile, shares in LSE-listed mineral explorer Kodal Minerals traded higher early Tuesday, as its similarly named Bougouni lithium project, which lies about 75 km from Birimian’s project, drew investors’ attention.
Kodal is working towards a resource on project, focussing on several well mineralised lithium-rich pegmatite veins which are said to be around 15 m to 20 m wide. The Kodal team recently received final rock chip assay results from the early stage exploration at its Bougouni project, showing a maximum of 2.03% Li2O with high-grade samples also recorded at its Ngoualana and Sogola prospects.
Kodal completed a reverse circulation drilling programme for 18 holes covering 1 323 m in mid-December, with assays expected by the end of this month.
Kodal recently increased its lithium exploration exposure in Mali with the acquisition of a 90% interest in three adjoining concession areas, known as the Diendo project for $65 000.
The newly acquired concessions lie in the Bougouni-Sikasso region where World Bank-funded studies in 2008 identified high-grade lithium bearing pegmatites and subsequent follow-up work by both the Mali government and Kodal’s geological team have identified coarse-grained pegmatites containing the lithium mineral, spodumene.
The Birimian’s Bougouni project has around 250 km2 of license area, compared with about 500 km2 for Kodal’s own lithium licenses.
Edited by: Creamer Media Reporter
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