Market Herald logo

Subscribe

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

" Barton Gold (ASX:BGD) kicks off new round of drilling at Tunkillia project

Barton Gold (ASX:BGD) has begun a drilling program at its Tunkillia gold project in South Australia.
Recce Pharmaceuticals (ASX:RCE) - Chief Executive Officer, James Graham

" Recce Pharmaceuticals’ (ASX:RCE) clinical trial returns positive safety profile

Recce Pharmaceuticals (ASX:RCE) has seen its clinical trial receive a good safety profile among ten healthy…
IGO (ASX:IGO) - CEO & Managing DIrector, Peter Bradford

" IGO (ASX:IGO) produces first battery-grade lithium hydroxide from Kwinana refinery

IGO (ASX:IGO) has produced the first battery-grade lithium hydroxide from the Kwinana Lithium Hydroxide Refinery in…
Marquee Resources (ASX:MQR) - Executive Chair, Charles Thomas

" Marquee Resources (ASX:MQR) begins drilling at Kibby Basin

Marquee Resources (ASX:MQR) has begun drilling at the highly prospective Kibby Basin lithium project in Nevada,…