TIDMBNR
RNS Number : 4381D
Blenheim Natural Resources PLC
31 January 2018
Blenheim Natural Resources Plc / EPIC: BNR / Market: AIM
31 January 2018
Blenheim Natural Resources Plc
("Blenheim" or the "Company")
Update from West African Lithium Project
Blenheim Natural Resources Plc, the AIM-quoted investing
company, is pleased to announce that it has received the results
for the second stage of the exploration programme being executed
across its lithium portfolio in southwest Mali. Blenheim has
exposure to these exploration permits through its 40% and 30%
shareholdings in Xantus Inc and Nashwan Holdings Limited
respectively.
Overview:
-- Geological Reconnaissance including systematic mapping and
sampling, was undertaken by Sahara Mining Services (Sahara) across
four lithium exploration permits in southwest Mali.
-- Permits are located in close proximity to Birimian Limited's
and Kodal Minerals Plc's project areas, both of which have made
significant lithium discoveries.
-- 53 samples were collected from outcropping pegmatites across
the permits with 16 confirming elevated levels.
-- Elevated Li(2) O in the pegmatites show the potential for
better grades to be identified at depth or along strike.
-- Following the positive indications from the initial field
reconnaissance, further exploration will now commence to test for
high grade Li(2) O below the extensive tropically weathered
surface.
-- The planned programme will provide sampling for 90% of the
prospective permit area, testing for hidden mineralisation below
the soil cover. The initial geological reconnaissance covered less
than 5% from available outcropping rocks.
-- Follow up exploration including auger drilling to test the potential higher grade subsurface mineralisation will commence during Q1 2018.
Blenheim Chairman, Chris Ells, commented, "We are pleased with
the progress being made across the West African lithium projects
and with these latest results which confirm the potential of the
projects. It is encouraging that anomalous lithium values have been
obtained in several sampled locations. We are therefore optimistic
about the future potential of Blenheim's West African lithium
interests as they progress to the next stage of exploration. We
look forward to receiving further positive results and updating our
shareholders."
Beau Nicholls of Sahara commented, "Sahara is a West African
focussed consultancy business providing Exploration Project
Management services to a number of ASX Lithium and Gold Explorers
working in Mali and across West Africa. Sahara have managed the
first pass geological reconnaissance completed to date. The permits
are located in favourable host rocks similar to, and in close
proximity to peer lithium explorers in the region. Sahara
geologists have identified pegmatitic rocks (host rocks for Li2O)
that have returned above background Li(2) O. This result combined
with 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"
Full information:
Following a one-month reconnaissance and sampling survey,
completed in Q4 2017, the samples collected were submitted to the
SGS laboratory in Bamako for sample preparation and then shipped to
SGS South Africa for analysis by ICP-MS.
This reconnaissance campaign follows the Stage 1 Geographic
Information System (GIS) and geophysical interpretation of the
existing geophysical data, during which six pegmatite outcrop
clusters were identified and sampled on three of the four
permits.
Sahara's scope of work included first pass reconnaissance
mapping and sampling which includes traversing through the permits
with an emphasis on the target areas identified during Stage 1;
drawing maps detailing the locations of pegmatite outcrops
encountered; sampling all pegmatite outcrops to submit for
multi-element analysis; making recommendations regarding further
work to be completed for each permit.
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.
The samples have returned elevated Li(2) O in the pegmatites.
Additional work is now required to test for higher grade material
below the effects of weathering. Lithium and associated minerals
such as tin and tantalite are often zoned along strike and by
elevation. They are also controlled by distance from granites.
The lithium projects are located within <40km from Birimian
Limited's Goulamina project (contiguous to the Dieba Concession)
which has a mineral resource of 15.5 Mt at 1.48% Li2O.
Additionally, Kodal Minerals Plc's Bougouni Lithium project (the
Kolassokoro and Madina concessions) is contiguous to the Djidje and
Nimisilla permits. Kolassokoro and Madina have recorded lithium
grades >2% Li(2) O from RC and diamond drilling programmes.
Sahara have concluded from the work undertaken that the
Company's Bougouni lithium projects are prospective for lithium due
to their proximity to known lithium projects in the region, the
identification of pegmatites and elevated (above background) Li(2)
O defined in the first pass grab samples.
BNR owns 40% of Xantus Inc, and 30% interest in Nashwan Holdings
Limited with exploration permits located in the Bougouni district
of southwest Mali. Bougouni district is in the administrative
region of Sikasso. The town of Bougouni is 170km to the south of
Bamako, and 210km to the west of Sikasso town.
Competent Persons Statement
The exploration results and activity reported in this
announcement are based on information compiled by Mr Michael Cantey
(BSc Geology, Member of the Australasian Institute of
Geoscientists). Mr Cantey is a full-time employee of Sahara Mining
Services and has sufficient experience which is relevant to the
style of mineralisation and type of deposits under consideration
and to the activities undertaken to qualify as a Competent Person
under AIM Guidance for Mining and Oil & Gas Companies and as
defined in the 2012 edition of the Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves. Mr
Cantey consents to the inclusion in the release of the statements
based on his information in the form and context in which they
appear.
*Ends*
For further information please visit
www.blenheimnaturalresources.com or contact:
Chris Ells/Charlie Wood Blenheim Natural Resources Plc +44 (0)1622 844601
Spark Advisory Partners Limited
Neil Baldwin/Andrew Emmott (Nominated Adviser) +44(0)203 368 3554
Nick Emerson SI Capital Ltd (Broker) +44 (0)1483 413500
Frank Buhagiar/Gaby Jenner St Brides Partners +44 (0)207 236 1177
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 company dedicated to developing blockchain-based
platforms to enable resource sector focused companies to conduct
transactions globally.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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