Announcement Date: 2023-01-17
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Leo Lithium Ltd.
Project name: Goulamina
Location: Mali
Commodities: Lithium
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Leo Lithium Limited (ASX: LLL) (Leo Lithium or the Company) is pleased to announce a substantial upgrade to the Mineral Resource estimate (MRE) of its Goulamina Lithium Project (Goulamina or the Project). A resource definition drilling campaign was undertaken in H2 2022 on pegmatite dykes in the south-west of the Goulamina Lithium Project, part of the Danaya Domain (Danaya). The recently completed assessment of drilling results and the updated MRE for Danaya has increased the Danaya MRE by 152%, from 22.3 Mt to 56.1 Mt and the total Goulamina resource base by 31% from 108.5 Mt at 1.45 % Li2O to 142.3 Mt @ 1.38% Li2O (Table 1). Leo Lithium Managing Director, Simon Hay, commented: “We are pleased to report a considerable resource upgrade which confirms the outstanding scale, high-grade nature, and further growth potential of the Goulamina Project. An increase in Danaya of 33.8 Mt from a moderate drilling campaign of approximately 12,700 metres, is a fantastic outcome. These results continue to reveal high-grade, thick intercepts and confirm our expectations of multiple, wide mineralised pegmatite
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