Two Shields Investments PLC Update from West African Lithium Portfolio (1007Q)

TIDMTSI

RNS Number : 1007Q

Two Shields Investments PLC

04 June 2018

Two Shields Investments Plc / EPIC: TSI / Market: AIM

4 June 2018

Two Shields Investments Plc

("Two Shields" or the "Company")

Exploration Update at Highly Prospective West African Lithium Portfolio

Two Shields Investments Plc, the AIM-quoted investing company, is pleased to announce an update on its lithium interests in South-Western Mali and South-Western Niger, through its 40% and 30% shareholding in Xantus Inc ('Xantus') and Nashwan Holdings Limited ('Nashwan') respectively.

Highlights

-- Third stage of the exploration programme across four lithium exploration permits in Mali is near to completion. This has involved a 5,000m auger drilling campaign testing for greater concentrations of Li(2) O below the extensively weathered surface

-- Drilling has been focused on the six pegmatite outcrop clusters where elevated levels of Li(2) O were previously identified

   --    Completion of field work in expected in the next seven days; results anticipated Q3 2018 

-- In Niger, the planned work programme has commenced. This includes 5,000m of auger geochemical drilling and geological logging focusing on high grade targets, Dibilo and Dibilo East, previously identified at the Dingoaba Permit where grades of up to 3.22% Li(2) O have been reported

-- The Niger drill and work programme has been organised using the information garnered from the reassessment of historical data (Machens 1961) that reconfirmed that the permit is highly prospective for lithium

-- The Mali and Niger lithium exploration permits are located in close proximity, and display a similar geology, to Birimian Limited and Kodal Minerals' significant lithium discoveries. Previous results from both sites have been indicative of a similar potential for high grade Li(2) O mineralisation

Chairman of Two Shields Investments, Charlie Wood, said, "Our West African lithium portfolio is progressing well as we look to quantify the prospectivity of what we believe to be an exciting lithium package that presents a significant opportunity for value generation for Two Shields. In Mali the potential for high grade mineralisation beneath the weathered surface has been tested by 5,000m of auger drilling and now a similar work programme is being deployed in Niger following the recent highly promising results including grades of 3.22% lithium oxide. The geology in Niger and Mali are both highly prospective being located within a rapidly emerging global lithium province.

"Demand for lithium is anticipated to continue to increase rapidly resulting in a critical supply-demand gap that should positively impact upon pricing in the near future. Our investment in this lithium portfolio is in in line with the Board's investment strategy of targeting technology metals and we believe the assets are complementary to our investment in Cobalt Blue Holdings, currently developing a portfolio of cobalt licences in Cameroon. We also have an investment in Brandshield, a pioneering international cyber-security company that recently launched the world's first decentralised online anti-scam platform utilising blockchain technology. I look forward to receiving updates from across Two Shields investment portfolio and updating shareholders accordingly."

Mali - Dieba, Nimissila, Djidje and Meniambala

Two Shields has a 40% stake in of Xantus and a 30% interest in Nashwan which together control 100% of the Malian exploration licences comprising a total surface area of approximately 370km(2) .

Good progress has been made and the third stage of the exploration programme at four of the south-western Mali lithium exploration permits is now close to completion. This work has involved a 5,000m auger drilling campaign intended to test for greater concentrations of Li(2) O below the extensively weathered surface. Field work is anticipated to be completed within the next seven days. The Company expects to receive the first set of assay results within a month, and final assay results approximately six to eight weeks after completion of work (Q3 2018).

The auger drilling programme provides samples from below the lateritic cover of the permit areas, testing for high grade Li(2) O mineralisation below the effects of surface weathering. The previous stage of exploration, a reconnaissance and sampling survey, involved the collection of 53 samples from outcropping pegmatites. Six pegmatite outcrop clusters were identified and samples from these returned elevated levels of Li(2) O. This information was then used to identify drill targets for this latest stage of exploration.

Auger drilling has been undertaken on a 400m x 400m grid and distributed across the four permits as follows:

 
 Permit Name    Sampling Points   Total Meters   Samples (n) 
                 (n)               (m) 
 Dieba          25                243            26 
               ----------------  -------------  ------------ 
 Nimissila      127               1204           133 
               ----------------  -------------  ------------ 
 Djidje         138               1204           145 
               ----------------  -------------  ------------ 
 Meniambala     153               1577           161 
               ----------------  -------------  ------------ 
                443               4,228          465 
               ----------------  -------------  ------------ 
 

The Malian lithium project areas are located under 40km from Birimian Limited's Goulamina project. The Goulamina project has a mineral resource of 15.5 Mt a 1.48% Li(2) O and is contiguous to the Dieba permit area. Kodal Minerals Bougouni Lithium project is adjacent to the Nimissila and Djidje permits and has recorded lithium grades of greater than >2%Li(2) O.

Beau Nichols of Sahara Mining, the contracted work partner across the portfolio, said, "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."

Niger - Dingoaba

Two Shields has exposure to the lithium exploration licences in Niger through its 40% interest in Xantus.

A planned work programme has commenced across the Niger lithium portfolio which will include 5,000m of auger geochemical drilling and geological logging. This shall focus on the high-grade targets, Dibilo and Dibilo East, identified through previous work completed across the Dingoaba permit.

The permit areas have historically proven lithium resources and substantial swarms of spodumene bearing pegmatite veins have been encountered and mapped over 75% of the permit areas indicating the highly prospective nature of the permits.

An extensive drilling programme is planned and will be undertaken on a 200m x 100m grid:

 
 Permit Name    Drill Points (n)   Total Metres (m) 
 Dingoaba                  1,000              5,000 
               -----------------  ----------------- 
 

As previously announced (RNS dated April 11) work completed to date across the Niger portfolio includes the reassessment of historical data which confirmed that the permit area is highly prospective for lithium. Highlights included:

-- Excellent average grades reported at the Dibilo target including 3.22% Li(2) O, 2.05% Li(2) O and 1.45% Li(2) O at three selected spodumene-mineralised pegmatite veins outcropping

-- 3.7km(2) of surface vein structures identified at the Dibilo target; 75% of outcropping veins were quartz veins with molybdenum mineralisation and 25% were identified as Spodumene mineralised

-- Grades of 0.5% Li(2) O returned from massive concentrations of lepidolite found in pegmatite veins at Dibilo East target

-- 150m(2) surface area of ultramafic rocks with 120m x 4m surface area of spodumene recorded at Dibilo East target

The targets are in close proximity to the western contact of the Birimian volcano sedimentary formation. Birimian Limited's and Kodal Minerals Plc's project areas, both of which have made significant lithium discoveries, are similarly located in close proximity to the Birimian volcanic formation indicating the potential of the Company's licences.

**Ends**

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

 
Charlie Wood                  Two Shields Investments 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:

Two Shields Investments 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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June 04, 2018 02:00 ET (06:00 GMT)