Mali-focussed lithium explorer Birimian (ASX: BGS) has hit more wide, high grade lithium at its Yando deposit which is part of its flagship wholly-owned Goulamina project.
Better results from the latest assay batch from Yando were 44m grading 1.86% lithium and 27m grading 1.55% lithium.
According to Birimian, six of the 11 holes drilled at Yando have returned mineralisation, extending the deposit’s known size.
Previous assays from Yando revealed lithium grading up to 1.95% with better intersections including 23m grading 1.63% lithium, and 17m grading 1.95% lithium.
Another drill rig was mobilised to site last week to carry out more resource expansion exploration at Sangar, West and Main prospects. Birimian claims preliminary results from Sangar are “highly encouraging” and have extended the strike length at least 800m.
Birimian has applied to the Mali Government to carry out an airborne magnetic survey to identify pegmatite occurrences outside the auger-drilled area and develop more detailed geological maps. Government approval is still pending.
In late November, Birimian reported its intent to raise A$12 million to fund ongoing exploration at Goulamina including a revised pre-feasibility study and begin a definitive feasibility study.
The project’s current resource sits at 32.9 million tonnes grading 1.37% lithium for 451,000t of contained lithium.
An existing pre-feasibility study which was published in October, has estimated up to a 14-year open pit mine life with potential operating cash flow between US$575.8 million and US$2.59 billion, depending on the operating scenario
The study offered five scenarios with the fifth calculating the potential of developing secondary processing to produce a battery grade lithium carbonate for sale.
The development and commissioning schedule for all scenarios included an 18-month construction period.
Goulamina encompasses 295 square kilometres and is about 150km from Mali’s capital city and port Bamako.
In addition to progressing Goulamina, Birimian owns the Massigiu and Dankassa gold projects nearby in Mail, which brings the company’s total landing holding in the region to more than 1,100 sq km.
Shares in Birimian rose more than 4% to A$0.61 in early morning trade.