Blenheim Signs Drill Contract For Further Exploration Of Mali Mines

3rd Apr 2018 13:37

LONDON (Alliance News) - Blenheim Natural Resources PLC, an investment company focused on mineral exploration and mining, said Tuesday it has signed a drill contract for the third stage exploration programme across four of its southwest Mali lithium exploration permits.

Blenheim has exposure to these exploration permits through its 40% and 30% shareholdings in Xantus Inc and Nashwan Holdings Ltd, respectively.

The planned 5,000 meter Augur drilling campaign is intended to test for stronger concentrations of lithium oxide below the extensively weathered surface

The drill programme will provide samples covering over 90% of the prospective permit area, a significant increase over the less than 5% tested through the outcropping sample programme.

This programme follows a reconnaissance and sampling survey in the fourth quarter of 2017, during which 53 samples were collected from outcropping pegmatites. The results from this survey were indicative of potentially higher grades at depth or along strike.

Blenheim Natural Resources Chairman Charlie Wood said: "This extensive drill programme is intended to confirm the potential of the targeted pegmatites and allow us to further understand the prospectivity of the licence. This is an extremely exciting and busy time for Blenheim with significant progress being made across our investment portfolio."

Shares in Blenheim Natural Resources were trading down 2.9% to 0.34 pence each Tuesday.