Next Investors logo grey

Birimian to go deep in lithium hunt

Published 29-JUN-2016 12:27 P.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Birimian Gold (ASX:BGS) is about to go deep at its Bougouni lithium project in southern Mali in an effort to provide the data needed for an initial JORC Resource estimate.

To date, BGS has drilled a total of 42 shallower reverse circulation holes at the project for 3639m, testing the main Goulamine zone at the project.

It told its shareholders yesterday that the drilling had confirmed the shallow depth extensions of lithium mineralised pegmatite over the 700m long surface of the zone.

A map showing the Goulamina deposit and the RC holes recently sunk there

A map showing the Goulamina deposit and the RC holes recently sunk there

It, however, added that ‘reconnassance’ drilling outside the main zone identified lithium bearing pegmatites immediately to the west of the main Goulamina outcrop – effectively giving BGS more fodder to follow up on in the future.

BGS will now begin about 700m of diamond drilling in order to test deeper mineralisation at Goulamina.

Both the diamond and RC drilling is being done in an effort to come up with a JORC-compliant resource at the project and to grab samples for processing test work.

Samples were previously tested by CSA Global as part of a study into the lithium potential of the area conducted by the World Bank.

As part of this drilling the project had an exploration target of between 15-18 million tonnes of lithium oxide at an average grade of 1.8-2.2%.

This is not JORC-compliant though, so at this stage remains a conceptual exploration target.

About Birimian Gold (ASX:BGS)

Birimian Gold is a multi-commodity mineral exploration company holding substantial interests in several lithium and gold projects in West Africa.

The company is actively exploring in excess of 2000km2 of highly prospective tenure in Mali and Liberia, and continues to work to secure additional high potential projects in the region.

Birimian Gold’s projects include the Bougouni Lithium Project, the advanced Massigui Gold Project, and the Dankassa Gold Project, all situated in southern Mali. The company also operates the Basawa Gold Project in Liberia.

Editor’s note: Mali remains a high jurisdictional risk. Getting mining projects up and running in countries such as Mali is no simple feat, and there may be challenges ahead.

tags

GOLD LITHIUM


General Information Only

This material has been prepared by StocksDigital. StocksDigital is an authorised representative (CAR 000433913) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573).

This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.