Why is First Lithium expanding their drilling program in Mali?
First Lithium Limited Expands Drilling Program in Mali, Boosting Prospects for Looming Lithium Boom
Arrival of 2nd Diamond Core Rig Signals Promising Growth for First Lithium Ltd
Who
First Lithium Ltd (ASX: FL1), a prominent player in the lithium exploration industry, has announced the expansion of its drilling program in Mali. The company's Managing Director, Venkat Padala, expressed enthusiasm as the second drill rig commenced operations at the Faraba prospect.
What
The arrival of the 2nd drill rig marks the initiation of an additional 2,000 meters of drilling at First Lithium's 2nd prospect, Faraba. This expanded drilling program aims to further delineate the extent of known spodumene-bearing pegmatites, which have shown remarkable potential in preliminary assessments.
Where
The drilling operations are taking place within the Bougouni region of Mali. The Faraba permit, situated approximately 50km northwest of First Lithium's Blakala prospect, has been identified as a promising area for lithium exploration.
When
The expansion of the drilling program and the commencement of drilling at the Faraba prospect are taking place now.
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Updates on the ongoing Blakala drilling program, which has already reached a depth of 912 meters, are expected this week. Fast-track assay results from the initial Blakala holes are projected to be available within the next 2-3 weeks, and the first Faraba holes within 6-8 weeks.
Why
First Lithium Ltd's expansion of the drilling program reflects the company's commitment to uncovering valuable lithium resources in Mali. With promising visual spodumene estimates of up to 20% at the Blakala prospect, the company aims to further explore and define lithium-spodumene pegmatites to increase their resource base.
How
The expanded drilling program will extend over 2,000 meters at the Faraba prospect, aiming to delineate the extent of known spodumene-bearing pegmatites. The drilling depths will reach up to 300 meters, complementing previous trenching efforts and confirming the presence of lithium-spodumene pegmatites.
Additionally, the ongoing Blakala drilling program continues to uncover valuable pegmatites, and updates will be provided throughout the week. Fast-track assay results from the initial drilling at Blakala are expected within the next 2-3 weeks, followed by assay results from the first Faraba holes within 6-8 weeks.
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