TIDMTSI
RNS Number : 0771H
Two Shields Investments PLC
12 November 2018
Two Shields Investments Plc / EPIC: TSI / Market: AIM
12 November 2018
Two Shields Investments Plc ("Two Shields" or the "Company")
Update on 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 Niger, through its 40% interest in Xantus Inc
('Xantus'). This includes assay results from the recent Auger
Geochemical program which confirm the prospectivity of the permit
area for lithium mineralisation.
-- 3,000m auger drilling and geological logging campaign
targeting historically mapped lithium occurrences completed July
2018
-- 860 auger drill holes completed to an average depth of 3.5m
from surface in addition to 15 rock chip samples collected from
pegmatite outcrops
-- Sahara Natural Resources ("Sahara") made the following direct
observations from the interpretation and analysis of the Auger
Geochemical program:
o Excellent auger geochemical anomalies were returned for the
Dibilo Target, as shown in the map below, the grid of 200m x 100m
has identified around 6 separate anomalies around 100m to 200m in
width and 500m to 3km in length. These anomalies potentially
represent hidden pegmatite swarms as were seen in outcrop in
surface.
o The auger geochemical sampling results specifically at Dibilo
target have identified positive geochemical anomalies that are
prospective for Lithium bearing pegmatites. These anomalies are
over broad zones that extend over approximately 2km in length
-- Lithium Oxide (Li(2) O) values ranged between 2.5ppm and a
maximum value of 597ppm - Sahara noted that lithium pegmatites are
often leached at surface and return significantly lower grades than
the pegmatite unit 20 meters below surface.
-- Sahara has determined the Xantus Niger permit area to be
prospective for lithium-bearing pegmatites
-- Upcoming work programme to be determined in consideration of
assay results including a potential drill programme targeting
mineralisation at a greater depth
-- Xantus' Niger permit area is located within a prospective
region for lithium mineralisation based on historical evidence that
includes the mapped occurrence of lithium bearing pegmatites which
recorded assays >2% Li(2) O
-- Underlying geology of the permit area are leucogranites and
pegmatite veins; both largely regarded as likely hosts for lithium
mineralisation
To view the full version of this announcement, complete with
illustrative maps, please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/0771H_1-2018-11-12.pdf
Charlie Wood, Chairman, said, "The Auger Geochemical program
conducted by Xantus across the Niger permit area has successfully
demonstrated a significantly greater number of lithium anomalies
than previously recorded, and provided a better understanding of
the distribution of mineralisation across the permit area. The
Company has been informed that Xantus are considering the next
stage in the development of the Niger permit area, and I look
forward to updating shareholders further once this has been
determined.
"Two Shields' portfolio of investments is looking stronger than
ever before. Performance at our investee companies, including
international cyber-security company Brandshield and cutting-edge
social e-commerce platform WeShop, is highly encouraging, while we
await notification of further results from the Malian lithium
assets which we expect before the end of November."
Figure 1: Map displaying auger geochemical anomalies
encountered
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 occurrences and
substantial swarms of spodumene bearing pegmatite veins have been
encountered and mapped over 75% of the permit areas.
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.
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 2018 Niger drill exploration was organised in consideration
of the historic data available and targeted areas with recorded
elevated lithium-bearing pegmatites had been encountered. 3,000
auger geochemistry drill meters were planned to test historically
mapped lithium occurrences located within Xantus' permit area. A
total of 860 auger drill holes were completed in late July 2018 to
an average depth of approximately 3.5m from surface. A further 15
rock chip samples were collected from various pegmatite outcrops
encountered within the permit areas.
905 samples were submitted to the SGS laboratory in Ouagadougou,
Burkina Faso, for sample preparation and pulp samples were
transferred to the SGS laboratory in Johannesburg, South Africa,
for multi-element analysis. All assay results for samples submitted
were received in late October 2018.
The samples collected were predominantly from granite saprolite,
as the geology across the project area predominantly consists of
biotite-granite and alkali-granite. This programme was intended to
sample beneath the aeolian sand cover, and successfully did this.
Further testing of the permit area could focus on the hard-rock
source of the geochemical anomaly at depth.
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 Natural
Resources 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.
This announcement contains inside information for the purposes
of article 7 of the market abuse regulation (EU) 596/2014.
**Ends**
For further information please visit https://twoshields.co.uk/
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
Andy Thacker Turner Pope Ltd +44 (0) 20 3621 4120
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 and Digital Assets, financial technologies
and other technologies applicable to, or involved in, the
blockchain space. 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 rns@lseg.com or visit www.rns.com.
END
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