Mali Lithium recovers gold from Koting drilling campaign
Mali Lithium has unearthed gold in a recent drilling campaign at its Koting gold project near Barrick Gold’s Morila mine in Mali.
Lithium and gold explorer Mali Lithium (ASX: MLL) has revealed positive gold results from a recently completed infill drilling program at its Koting gold project in southern Mali.
The company began drilling in late October, with the program comprising 12 reverse circulation holes totalling 1,600m at the K1 prospect.
Significant intersections included 4m grading at 11.1 grams per tonne of gold from a depth of 100m, including 1m at 34.1g/t gold.
Other drilling highlights were: 12m at 8.92g/t gold from 63m, including 6m at 16.53g/t gold; and 1m at 1.8g/t gold from 140m.
The K1 prospect, the focus of this latest campaign, is the only anomaly at the Koting project to have been tested by RC and diamond drilling. The drilling has intersected mineralisation over a 400m strike and Mali Lithium said it may extend further along strike.
The company has highlighted four other untested gold anomalies at the project – K2, K3, K4 and K5. One of the most promising targets is K3, which is believed to extend over at least 1.7km of strike.
Lithium focus with gold potential
Mali Lithium holds both lithium and gold tenure in Mali, with its primary focus being the Goulamina lithium project where a definitive feasibility study has recently commenced.
The company was previously known as Birimian under the ticker code BGS before its name was changed in June to reflect its commitment toward developing the Goulamina project.
Although, Mali is the third largest gold producer in Africa and the company’s gold tenements are close to several world-class gold operations operated by international companies including Canadian gold mining giant Barrick Gold (TSE: ABX), Resolute Mining (ASX: RSG) and AngloGold Ashanti (ASX: AGG).
In particular, the Koting project is adjacent to Barrick’s Morila mine and was chosen to test for potential to develop further resources for possible treatment at the mine.
In today’s announcement, Mali Lithium managing director Chris Evans said while the company is focused on developing Goulamina, it also recognises the potential for discovering additional gold mineralisation close to Morila.
“The high-grade nature of some of the intersections indicate the potential tenor of mineralisation that may be discovered at other nearby prospects within our Koting landholding,” he added.
Mr Evans said the company now has a suite of future drilling targets available at Koting and is assessing its options for exploration and to realise value from its gold portfolio.