TIDMTSI
RNS Number : 4985K
Two Shields Investments PLC
11 April 2018
Two Shields Investments Plc / EPIC: TSI / Market: AIM
11 April 2018
Two Shields Investments Plc
("Two Shields" or the "Company")
Niger Lithium Portfolio Yields 3% plus surface lithium
grades
Two Shields Investments Plc, the AIM-quoted investing company,
is pleased to announce an update on its lithium interests in
South-Western Niger, through its 40% shareholding in Xantus Inc.
Reassessment of historical data from the Dingoaba permit
('Dingoaba') that lies within Xantus Inc's project area has
confirmed that the permit is highly prospective for lithium.
Overview:
-- High grade lithium bearing pegmatites recorded at surface
during field reconnaissance of historical report (Machens
1961);
-- Lithium bearing pegmatites were identified at Dibilo in the Dingoaba Permit;
-- A further target Dibilo East in the Dibilo Permit, has been identified;
-- Exploration work on the Dingoaba Permit at Dibilo target and
one further target within the permit to be fast tracked, to include
auger drilling, due to:
o Excellent average grades reported including 3.22% Li(2) O,
2.05% and 1.45% Li(2) O at three selected spodumene-mineralised
pegmatite veins outcropping
o Individual sample grades of up to 4.65% encountered
o 3.7km(2) of surface vein structures identified
o 75% of outcropping veins observed over 2.8km(2) of study area
were quartz veins with molybdenum mineralisation
o 25% of veins covering an area of 0.57km(2) were identified as
Spodumene mineralised;
-- Dibilo East:
o grades of 0.5% Li(2) O returned from massive concentrations of
lepidolite found in pegmatite vein
o 150m(2) surface area of ultramafic rocks with 120m x 4m
surface area of spodumene recorded
-- 5,000m of auger geochemical drilling and geological logging
has been commissioned across the portfolio to target high grade
targets and is due to commence on the 30(th) April. The programme
is anticipated to last approximately 6 weeks, with samples
dispatched on programme completion
-- Results expected during early Q3
An extensive drilling programme will be undertaken on a 200m x
100m grid:
Permit Name Drill Points (n) Total Metres (m)
------------- ----------------- -----------------
Dingoaba 1,000 5,000
------------- ----------------- -----------------
Chairman of Two Shields Investments, Charlie Wood, said, "With
surface grades of up to 4.65% and multiple showings of lithium
bearing spodumene plus a 3.7km(2) vein system at Diablo, the
historical data underpins the high prospectivity of the Xantus
lithium portfolio in Niger, particularly when the regional context
of the permit is taken into account. A work programme including an
extensive drill programme is planned at our priority target Dibilo
and we look forward to updating our shareholders with the results
of this next stage of exploration, as we look to further define the
significant mineralisation we have identified to date. Our
investment in Xantus Inc is just one leg of our strategy to invest
in highly prospective exploration opportunities focused on
technology metals, and with progress being made across all our
interests, the next few months will not be short of high impact
news flow."
Further Information
Xantus Inc, through its subsidiary Xantus Niger, holds four
contiguous permits in South-Western Niger, 170km from the capital
city, Niamey, in the Department of Tera in the Tillabery region.
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.
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 prospectivity of the Company's licences.
The occurrence of lithium-bearing pegmatites within the
Precambrian rocks of the Liptako, were initially reported by
Machens (1961). These occurrences were observed in the region of
Terra in close proximity to the western contact of the Birimian
volcano sedimentary formation with the enclosing granitoids. The
study identified two targets within Xantus's permits with lithium
bearing pegmatites namely;
-- Dibilo
-- Dibilo East
Dibilo
The Dibilo site is characterized by a series of north-northwest,
south-southeast trending veins, outcropping within a large granitic
body. The outcropping veins were observed over a study area of
approximately 2.8km(2) with approximately 75% of the veins being
quartz with disseminated molybdenum mineralisation.
Approximately 25% of the total veins observed had spodumene
mineralisation which occupied a surface area of approximately 0.57
km(2) . 18 of these spodumene mineralised pegmatite veins were
listed and described in detail by Machens (1961). The total surface
area of the spodumene-mineralised pegmatite veins within the study
area were estimated at 3.7km(2) .
Description of Host Rock
The pegmatite veins are hosted within a medium grained, grey
coloured foliated to streaky textured granitoid. Foliation are
mainly in a south-eastern direction and have varying dips. The
contacts between the veins and the host rock are clear and have
thin concentrations of chlorite defining these contacts.
Description of Spodumene Mineralization
Spodumene mineralisation occur as clear crystals with individual
dimensions reaching approximately 30cm in length and 2cm thick.
Spodumene mineralisation are not uniformly distributed throughout
the veins but had higher concentrations in the middle parts.
Minerals that accompany the spodumene mineralisation include
quartz, muscovite, feldspars and accessory minerals such as
lepidolite, and garnet. The pegmatite veins had a general direction
between 100(o) and 110(o) (discordant to the main foliation of the
host granitoid body) and dips were between 30(o) to 40(o) .
Historical data shows that 3 major spodumene-mineralised
pegmatite veins were selected as the focus of previous study over
the area with average Li(2) O grades returned from laboratory
analysis of 1.45%, 3.22% and 2.05% respectively.
Dibilo East
This site is represented by an ultramafic rock outcrop with
approximate dimensions of 150m(2) surrounded by sand dunes. This
outcrop was crosscut by a series of quartz and pegmatite veins with
no preferential direction observed. Though all the quartz veins
observed on the outcrop were not mineralised, one of the pegmatite
veins located at the northern part of the outcrop had massive
concentrations of lepidolite that recorded grades of 0.5% Li(2) O.
Only trace amounts of spodumene was observed in small intermittent
clusters within the pegmatite veins to the southwest of the
outcrop.
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:
Charlie Wood Two Shields Investments Plc +44 (0)207 236 1177
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 Ltd +44 (0)207 236 1177
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 company news service from the London Stock Exchange
END
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