Leo Lithium Limited (ASX: LLL) has unveiled a substantial upgrade to the Mineral Resource estimate (MRE) of its Goulamina Lithium Project in Southern Mali.
A resource definition drilling campaign was undertaken in H2 2022 on pegmatite dykes in the south-west of the Goulamina Lithium Project, part of the Danaya Domain. The recently completed assessment of drilling results and the updated MRE for Danaya has increased the Danaya MRE by 152%, from 22.3Mt to 56.1Mt and the total Goulamina resource base by 31% from 108.5Mt at 1.45 % Li2O to 142.3Mt @ 1.38% Li2O.
“We are pleased to report a considerable resource upgrade which confirms the outstanding scale, high-grade nature, and further growth potential of the Goulamina Project,” Managing Director, Simon Hay, said.
“An increase in Danaya of 33.8Mt from a moderate drilling campaign of approximately 12,700m, is a fantastic outcome. These results continue to reveal high-grade, thick intercepts and confirm our expectations of multiple, wide mineralized pegmatite zones. Also, the deposit remains open at depth and along strike, creating new drilling targets for the team. This significant upgrade also supports the possible extension of the 23-year mine life of the Goulamina Project.
“Resource definition drilling continues on the Northeast Domain with drilling results to be announced shortly, and a Mineral Resource estimate subsequently set to be restated in the current half year. These results are also encouraging ahead of first spodumene concentrate product in Q2 2024 and the early revenue opportunity from the targeted export of direct shipped ore in H2 2023.”
Independent resource consultancy CSA Global was commissioned to undertake the Danaya MRE update resulting in the classification of Indicated and Inferred Mineral Resources. The resources that report to the Danaya MRE are constrained below the Top of Fresh Rock (TOFR) surface and reported within a USD$1,250 optimised pit shell. Mineralized Pegmatite material within the optimised pit shell is considered to have reasonable prospects for eventual economic extraction (RPEEE).
Goulamina Lithium Project Mineral Resources
The updated Mineral Resource for the Danaya Domain incorporates all historical data and recent drilling data completed by Leo Lithium between May and October 2022.
The Danaya Domain is the only domain updated in this MRE. There are no changes to the NE Domains; Main, West 1, West 2, Sangar 1 and Sangar 2.
Danaya
During the 2022 resource definition drilling campaign, Leo Lithium drilled 60 reverse circulation (RC) holes (including six Pre-Collar RC holes) for a total of 9,292 m and 17 Diamond (DD) holes (including 6 diamond tails) for a total of 3,428 m.
Since the last published MRE on 20 July 2020, the Danaya Mineral Resource has increased by 152% to 56.1Mt @1.24% Li2O. The Indicated resource classification at Danaya increased by 213% to 24.4Mt @1.34% Li20.
Danaya diamond core assay results are still pending and are therefore not included in this MRE, although diamond core geological and structural information was used to assist in defining the pegmatite solids.
Future drilling will focus on further resource extensions below and along strike of the optimised RPEEE pit shell as well as increasing the confidence level by converting Inferred to Indicated material within the pit shell.
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