MANSA LITHIUM INC AND NASHWAN HOLDINGS LTD

INTRODUCTION

Blenheim holds a 40% interest in Mansa Lithium Inc and a 30% interest in Nashwan Holdings Ltd, both holding exploration licences in southern Mali, which has high potential for lithium pegmatite deposits.  

HIGHLIGHTS

  • The Mansa Lithium Inc investment provides exposure to exploration projects in Dieba and Nimissila in Mali
  • Nashwan Holdings Ltd offers the opportunity of prospective Lithium project areas, Meniambala and Djidje in the Bougouni region in Mali
  • Blenheim represents one of a group of key players in the region, including Birimian Ltd and Kodal Mineral plc, creating a critical mass of lithium exploration projects 

The Exploration Permits

Blenheim has a 40% interest in Mansa and a 30% interest in Nashwan. Mansa holds the Dieba exploration permit and has the right to acquire an 80%. initial indirect interest in the Nimissila exploration project, both of which are highly prospective for lithium pegmatites. Blenheim also holds a 30% interest in Nashwan which has applied for exploration permits over the Djidje and Menianbala licence areas, currently held under prospecting permits.

The Regional Desktop Targeting Study

A Regional Desktop Targeting Study has been completed by Southern Geoscience Consultants which identified 15 priority target areas for lithium pegmatites on the prospective Dieba, Nimissila, Djidje and Menianbala permits, which cover 371 sq km in the Bougouni region of the country. These permits are contiguous with or near to the Goulamina Lithium project, where Birimian Limited (ASX: BGS) recently announced the results of a Pre-Feasibility Study (PFS) and the Bougouni Project, where Kodal Minerals plc (LSE: KOD) is undertaking further drilling to evaluate recent high-grade lithium discoveries.

The target areas for lithium pegmatites were identified from existing geophysical, remote sensing and geological data and confirms the highly prospective nature of southern Mali for lithium. Target areas have been proposed for follow-up based on their structural, lithological, geophysical and remote sensing characteristics and using the signatures of known pegmatite outcrops at Goulamina Project, which is located directly south of the Dieba Permit and within a 50km radius of the other 3 permits. Follow on exploration to locate lithium pegmatites has commenced, including mapping of pegmatite outcrops, soil geochemistry and preparation of a first-pass auger drill programme.

The Region & Other Projects

To put the licences into context, Birimian's Bougouni lithium project contains a reported JORC Mineral Resource of 32.9Mt at 1.37% Li2O for 451,000 tonnes of contained Li2O at 0.4% cut-off. Kodal has yet to announce a resource, but has reported wide, high-grade lithium pegmatite drill intersections from its Kassokoro permit. Kodal also recently announced initial flotation test results on drill chips from its Kassokoro permit showing that high-grade lithium (spodumene) concentrate, of suitable quality for producing lithium carbonate with low levels of impurities, had been produced from initial beneficiation test results, with recoveries of 80% to 87%.

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