First Lithium (ASX:FL1) adds to high-grade discoveries in Mali

First Lithium (ASX:FL1) adds to high-grade discoveries in Mali

February 20, 2024 Off By Jack Baker

First Lithium has reinforced excitement around the top-priority Blakala prospect with another batch of high-grade lithium intercepts from within its Gouna permit in the West African nation of Mali.

A highlight 19-metre intersection at 1.85 per cent lithium oxide came from the northmost hole into the main pegmatite and confirmed it remains open.

And first drilling over the prospect’s eastern zone yielded a 13.03m at 1.24% Li2O intercept, validating the pegmatite as another significant discovery.

The Blakala prospect was first established as a top-flight lithium prospect with a 111m @ 1.57% strike, with results since doing little to dissuade from its top-notch status.

The second batch of assays from Blakala returned intercepts as strong as 63.5m @ 1.45% Li2O and further proved up FL1’s visual estimates in the cores.

First Lithium Managing Director Venkat Padala said an expansion of the pegmatite to the eastern zone had again confirmed the size and scope potential of the project.

“With the Western, Main and now the Eastern pegmatites showing substantial Li2O, the excitement is building as the assays continue to deliver positive results and create a positive outlook for the maiden JORC mineral resource to be completed and announced later in the year,” Mr Padala said.

Mali metals

First Lithium was not the earliest to get to Mali’s significant potential for lithium, with historical work by Russian explorers and Breville Gold Group highlighting its potential in the 1970s.

FL1’s territory also sits in prime ground encircled by world-class projects.

The West African nation’s mining industry has traditionally been dominated by the gold sector, but the US Geological Survey has estimated Mali holds about 700,000 tonnes of lithium there for the taking.

Australian lithium stocks had a Monday rally on speculation of a Chinese mine closure, with commodity analysts wondering whether current share prices are the cheapest lithium stocks are going to get after an industry-rattling price downturn.

FL1 Gouna Map

First Lithium overlays results from Blakala diamond drill holes BDSF20 to BDSF24 on a location map of the prospect at Gouna project in Mali

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