Birimian finds new targets in lithium hunt
Published 03-JUN-2016 11:55 A.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 off to a good start in its lithium drilling in Mali – and has even found new targets in the process.
It began its lithium hunt at the Bougouni project in Mali last month outlining plans to drill 5000m at the project.
The plan is to target a resource of 15 million to 18 million tonnes at an average grade of between 1.8% and 2.2% lithium oxide.
The exploration target is conceptual in nature and is based on previous work done by mining consultancy CSA Global as part of a program funded by the World Bank aimed at stimulating the economy of Mali – which remains a high jurisdictional risk.
The drilling is being done to try and fast-track an initial resource estimate and a JORC Resource.
So far, BGS has drilled 18 reverse circulation holes for 1595m targeting the northern portion of the Goulamina deposit.
The drilling has confirmed “broad zones of spodumene bearing pegmatite”, confirming BGS’ suspicions about the deposit.
It said it would also bring in a diamond rig shortly to drill deeper to see whether the spodumene mineralisation continues at depth. The diamond drilling will also bring samples to the surface to inform further processing test work.
CSA Global previously undertook a systematic sampling program at the site to grab a bulk sample, which was then processed to produce a 6.7% concentrate – proving that rock from Bougouni could be processed into a saleable product.
It may have even more to chew on though, with the company telling its shareholders today that extra detailed mapping carried out in the deposit outcrop and surrounds had firmed up new targets.
These targets were not part of the initial plan for BGS – meaning it will have new targets to tap should it elect to do so as part of the current drilling campaign.
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.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
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.