Blenheim Natural Resources PLC Mali Lithium Drilling to Commence (4575J)

TIDMBNR

RNS Number : 4575J

Blenheim Natural Resources PLC

03 April 2018

Blenheim Natural Resources Plc / EPIC: BNR / Market: AIM

3 April 2018

Blenheim Natural Resources Plc

("Blenheim" or the "Company")

Mali Lithium Drilling to Commence

Blenheim Natural Resources, the AIM-quoted investing company, is pleased to announce that a drill contract has been signed for the third stage exploration programme across four of its southwest Mali Lithium exploration permits. Blenheim has exposure to these exploration permits through its 40% and 30% shareholdings in Xantus Inc ('Xantus') and Nashwan Holdings Limited ('Nashwan') respectively.

Overview:

-- The planned 5,000m augur drilling campaign is intended to test for stronger concentrations of lithium oxide ('Li(2) O') below the extensively weathered surface

-- The drill programme will provide samples covering over 90% of the prospective permit area, a significant increase over the < 5% tested through the outcropping sample programme.

-- This programme follows a reconnaissance and sampling survey in Q4 2017, during which 53 samples were collected from outcropping pegmatites. The results from this survey were indicative of potentially higher grades at depth or along strike.

-- Mobilisation is targeted for the week commencing 16th April, with assay results anticipated at the end of Q2 2018

   --     The permits are close to Birimian and Kodal Minerals' project areas in southwest Mali 

Chairman of Blenheim Natural Resources, Charlie Wood, said, "Previous results received from the lithium portfolio were highly promising as they were indicative of the potential for high grade lithium beneath the weathered samples and were similar to previous results reported by other proven lithium companies in the region. This extensive drill programme is intended to confirm the potential of the targeted pegmatites and allow us to further understand the prospectivity of the licence. This is an extremely exciting and busy time for Blenheim with significant progress being made across our investment portfolio."

The lithium projects are each located within <40km from both Birimian Limited's Goulamina project (contiguous to the Dieba Concession). Goulamina has a mineral resource of 15.5 Mt at 1.48% Li(2) O. Kodal Minerals' Bougouni Lithium project (Kolassokoro and Madina concessions) is contiguous to Djidje and Nimisilla permits. Kolassokoro and Madina have recorded lithium grades >2% Li(2) O from RC and diamond drilling programmes.

Stage 1 GIS and geophysical interpretation of the existing geophysical data identified prospective targets for outcropping pegmatites. 6 Pegmatite outcrop clusters were identified and sampled on 3 of the 4 permits. The samples returned elevated Li(2) O numbers in the pegmatites.

The SYSMIN Project geological mapping of the area characterises the geology as Proterozoic-age granitoid complexes, volcano-sedimentary conglomerates, greywacke formations and flysch-type sedimentary rocks, and granitic intrusive rocks. Metasediments, granites, diorite and volcanic dykes are mapped. Granites, quartz-pegmatite, metasediments, granodiorite, metagreywackes, greywackes, granitic intrusives, limited glassy quartz veins and pegmatite dykes were encountered during the fieldwork.

An extensive drilling programme will be undertaken on a 400m x 400m grid, across the following tenements:

 
 Permit Name    Sampling Points (n)   Total Metres (m) 
-------------  --------------------  ----------------- 
    Dieba               230                1,150 
-------------  --------------------  ----------------- 
  Nimissila             295                1,475 
-------------  --------------------  ----------------- 
    Djidje              180                 900 
-------------  --------------------  ----------------- 
  Meniambala            295                 1475 
-------------  --------------------  ----------------- 
                       1,000               5,000 
-------------  --------------------  ----------------- 
 

Local contractor, Sahara Mining Services ('Sahara'), has confirmed availability of suitable equipment and labour to execute the work programme. Mobilisation is expected during the week of the 16th April, and assay results are anticipated at the end of Q2 2018.

Beau Nichols of Sahara Mining commented, "Sahara Mining Services is a West African focussed consultancy business providing Exploration Project Management services to a number of ASX Lithium Explorers working in Mali. Sahara have managed the exploration reconnaissance. The permits are located in favourable host rocks similar to, and in close proximity to peer explorers. Sahara geologists identified pegmatitic rocks that have returned above background Li2O. This and the regional geology setting is a positive indication to finding mineralised pegmatites below the majority cover. Auger Geochemistry has been very successfully applied by ASX clients in the same region."

**Ends**

For further information please visit www.blenheimnaturalresources.com or contact:

 
Charlie Wood                  Blenheim Natural Resources Plc    [phone] 
 
                              Spark Advisory Partners Limited 
Neil Baldwin/Andrew Emmott     (Nominated Adviser)              [phone] 
 
Nick Emerson                  SI Capital Ltd (Broker)           [phone] 
 Frank Buhagiar/Gaby Jenner    St Brides Partners Ltd            [phone] 
 

Notes to Editors:

Blenheim Natural Resources Plc is an investing company, quoted on the AIM market of the London Stock Exchange, with a strategy focused on identifying and investing in opportunities in mineral exploration and mining, as well as technology associated with the natural resources sector. The Company has an experienced Board of Directors with a proven pedigree in the acquisition, development & sale of projects and creating value for shareholders. The investment mandate covers unquoted and quoted businesses, as well as direct project investment.

The Company currently has investments in a number of companies which provide exposure to commodities which are relevant to the rapidly growing technology metal sector, including lithium, cobalt and nickel, as well as strategic positions in a geoscience consultancy and a leading international company in the online brand protection, anti-counterfeiting and anti-fraud sector which has developed the one of the most comprehensive systems using AI powered cyber intelligence systems and is developing its proprietary blockchain-based platform for anti-fraud purposes.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 03, 2018 02:01 ET (06:01 GMT)