Leo (ASX:LLL) sight lithium upgrade at Goulamina
Leo Lithium has brought in more thick, high-grade intercepts from both the Danaya and Northeast Domains at its Goulamina Lithium Project, sitting 150 kilometres from the capital city of the West African nation of Mali.
A heady strike of 115.7 metres at 1.74 per cent lithium oxide headlined, supported by multiple pegmatite intercepts at least 54 metres – several grades going beyond 1.50% Li20.
Leo Managing Director Simon Hay said at 108Mt at an average grade of 1.45% Li2O, with an ore reserve of 52Mt at 1.51% Li2O, confidence in another upgrade to the high-quality Goulamina Resource was running high.
“The Li2O grades received from the combined Danaya and NE Domain targets are overall higher than the current average Mineral Resource Estimate grades for Goulamina,” he said.
“This is a fantastic result and positions us to deliver a robust MRE upgrade by the end of the current half year.
“With the high-grade mineralisation remaining open along strike, there is further growth potential ahead as we test potential northern strike extensions this quarter.”
Highlights
- 115.7 metres at 1.74 % Li2O, from 147.6 m
- 73.5 metres at 1.64 % Li2O, from 199.17 m
- 71 metres at 2.00 % Li2O, from 18 m
- 62 metres at 1.77 % Li2O, from 48 m
- 54 metres at 1.48 % Li2O, from 64 m
The explorer envisions a long, healthy mine life for Goulamina, with a DFS backing up a large-scale, hard rock open put lithium mine producing a quality, high-grade six per cent spodumene concentrate product suitable for lithium carbonate production as producers reap record returns.
Next Steps
Leo has also identified new shallow pegmatite dykes in the North East Domain. Ongoing drilling is moving towards potential resource extensions to the north ahead of a resource upgrade eagerly anticipated before the end of the June quarter.
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