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Mali Lithium increases size and quality of world-class Goulamina lithium resources

The 48% increase in measured and indicated resources is expected to flow through to the ore reserve estimate.

Mali Lithium Ltd - Mali Lithium increases Goulamina mineral resources by 48%
Ore reserve estimation and mine design are in progress

Mali Lithium Ltd (ASX:MLL) has upgraded the mineral resource estimate at its world-class 100%-owned Goulamina Lithium Project in Mali, West Africa, with a lift in size and quality.

Overall resources have increased 6% to 108.51 million tonnes at 1.45% lithium oxide for 1.57 million tonnes while the indicated and measured resources component is 48% higher at 64.6 million tonnes at 1.49% for 964,000 tonnes of contained lithium oxide.

The update has established measured resources established for the first time with the 48% increase in the higher confidence resources expected to flow through to an ore reserve estimate.

“Promising Goulamina resources”

Managing director Dr Alistair Cowden said: “It is promising to see both the size and quality of the Goulamina resources improve.

“This will provide the basis for an uplift in ore reserves.”

The company is also confident there is significant potential to further increase mineral resources at Goulamina in the Danaya and Sangar domains.

DFS underway

The measured and indicated resources are the basis of a new ore reserve estimate being undertaken for the Goulamina definitive feasibility study (DFS).

A material improvement to ore reserves and mine life is expected.

Dr Cowden said: “We will endeavour to complete the ore reserve and the definitive feasibility study as soon as possible, now that COVID-19 delays are behind us.”

The DFS is expected to be completed in two months.

Goulamina is fully permitted and is one of the world’s largest uncommitted hard rock lithium reserves.

Quick facts: Mali Lithium Ltd

Price: 0.155 AUD

ASX:MLL
Market: ASX
Market Cap: $49.19 m
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