Market Herald logo


Be the first with the news that moves the market
  • Mali Lithium has begun its first drilling program at the Koting gold prospect in Mali
  • The company will undertake a two-week, 12-hole reverse circulation program at Koting before the rig is moved to its primary lithium project
  • The assay results from the drill are expected in one month
  • Mali’s share price is up 2.38 per cent today with shares trading for 8.6 cents apiece

Mali Lithium has begun the first drilling program at its Koting gold prospect, which is located within the Massigui Project area, in Mali.

The company first hinted at the idea of a drill at Koting earlier in the month.

Mali will undertake a two-week, 12-hole reverse circulation program at Koting before the drill rig is moved to the company’s primary Goulamina Lithium Project.

Once here, further infill and extensional drilling of the existing mineral resource will be undertaken.

“Following the gold drilling, we are relocating the drilling rig to Goulamina. Results from the Goulamina program will be fed into the Definitive Feasibility Study to improve the confidence and extent of the mineralised resource,” Managing Director Chris Evans said.

The first assay results from the drill are expected in approximately one month.

The Massigui Gold Project is situated in southern Mali, 280 kilometres by road from the capital of Bamako.

The project area covers a total area of 674 square kilometres and partially surrounds the Morila Gold Mine.

Before focussing on the Goulamina Lithium Project, Mali completed more than 35,000 metres of drilling at Massigui and made significant gold discoveries at the Viper, Koting and N’tiola targets.

This mineralisation is situated near and to the north-east of the four million tonne per annum Morila Mine Treatment Plant.

Previous drilling at Koting by Mali has produced some significant mineralisation such as 9 metres at 7.53 grams per tonne of gold, 5 metres at 4.88 grams per tonne of gold, and 3 metres at 4.67 grams per tonne of gold.

“Previous drilling at Koting confirms that, unlike the Viper and N’tiola deposits, mineralisation dips towards the east,” Chris said.

“The drill-holes in this program are being drilled from east to west with a dip of -60 degrees. The current market has created an imperative to drill our gold prospects in Mali, and we look forward to the analytical results next month,” he added.

In light of this news Mali’s share price is up 2.38 per cent with shares trading for 8.6 cents apiece at 2:06 pm AEDT.

MLL by the numbers
More From The Market Herald
Peak Minerals (ASX:PUA) - Principal Geologist, Barbara Duggan

" Peak Minerals (ASX:PUA) eyes $4.9m placement for WA exploration

Peak Minerals (PUA) has received firm commitments to raise up to $4.9 million through a share placement to institutional and professional investors.

" Ramelius Resources (ASX:RMS) increases quarterly gold production

Ramelius Resources (RMS) produced 65,686 ounces of gold over the September quarter at an all-in sustaining cost (AISC) of $1445 per ounce.

" BCI Minerals (ASX:BCI) makes final investment decision for Mardie Project

BCI Minerals (BCI) has made a final investment decision (FID) regarding the development of the Mardie Salt and Potash Project on Australia’s Pilbara
Blackstone Minerals (ASX:BSX) - Managing Director, Scott Williamson

" Blackstone (ASX:BSX) teams up with Circulor for nickel tracing technology

Blackstone (BSX) has teamed up with Circulor to create product nickel traceability from mining through to the electric vehicle (EV) market.