{"id":2662,"date":"2023-12-04T05:14:05","date_gmt":"2023-12-04T05:14:05","guid":{"rendered":"https:\/\/economicherald.net\/?p=2662"},"modified":"2023-12-04T05:14:05","modified_gmt":"2023-12-04T05:14:05","slug":"first-lithium-turns-up-proof-the-russians-were-right-theres-lithium-at-gouna","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2662","title":{"rendered":"First Lithium turns up proof the Russians were right: There\u2019s lithium at Gouna!"},"content":{"rendered":"<p>Gouna\u2019s lithium was discovered by Russian geologists in the 1960s<br \/>\nCurrent project owner First Lithium in the midst of a 8,000m drilling program<br \/>\nThree cut sample lines at the Blakala prospect show grades up to 2.56% Li2O<br \/>\n12 out of 35 channel samples are &gt;2% Li20<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report: <\/em><\/strong><strong>While its 8,000m drill program continues, outcrop samples from First Lithium\u2019s Blakala prospect at Gouna, Mali, have returned from the lab and average an impressive 1.7% Li2O.<\/strong><\/p>\n<p>Blakala, initially identified by Russian geologists in the 1960s, stands out as one of the two lithium prospects in Mali that CSA Global recognised as Tier 1 priority targets back in 2008.<\/p>\n<p>The other is <a href=\"https:\/\/stockhead.com.au\/company\/leo-lithium-lll\/\"><strong>Leo Lithium\u2019s (ASX:LEO)<\/strong><\/a> 211Mt Goulamina project, ranked as the world\u2019s fifth-largest lithium deposit.<\/p>\n<p>Despite the suspension of its direct shipping ore operations, Goulamina remains on track to kick off spodumene concentrate production in H2 2024.<\/p>\n<p>Nearby, <a href=\"https:\/\/stockhead.com.au\/company\/first-lithium-fl1\/\"><strong>First Lithium (ASX:FL1)<\/strong><\/a> owns the Gouna project \u2013 and was eager to start an 8,000m drill program to precisely define the extent of known spodumene-bearing pegmatites within the tenure.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Dining out on lithium samples<\/strong><\/h2>\n<p>Of the 35 individual outcropping pegmatite samples, 12 are &gt;2% Li2O with a best-in-show grade of 2.56% over 1m in the BCH02 West hole.<\/p>\n<p>Sizeable results include:<\/p>\n<p>BCH02 West with 1.91% Li2O over 18.7m<br \/>\nBCH02 East with 1.54% Li2O over 11m<br \/>\nBCH01 with 1.27% Li2O over 5m<\/p>\n<p>The Blakala sample areas at the Gouna project. Pic supplied: (FL1)<\/p>\n<p>These samples validate the visually mapped and logged spodumene content in historical outcrop and diamond drill holes by the Russians all those years ago.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>The drill rigs are still turning, along with trenching and sampling<\/strong><\/h2>\n<p><a href=\"https:\/\/stockhead.com.au\/resources\/first-lithiums-blakala-prospect-looking-world-class-as-drilling-continues-to-intersect-significant-spodumene\/\"><strong>An 8,000m drill program<\/strong><\/a> is continuing while trenching and outcrop sampling is also being conducted and analysis from the three outcrop sample lines have been sent to the ALS laboratory for further study.<\/p>\n<p>\u201cThe outcrop channel sample results have delivered some fantastic interval percentages with the highest result of 2.56% Li2O showing the significance of this sampling especially as the average across all sampling to date was a high 1.70% Li2O,\u201d FL1 MD Venkat Padala says.<\/p>\n<p>\u201c54% of samples delivered results between 1% and 2%, and 34% of results were &gt;2%.<\/p>\n<p>\u201cThe outcrop channel sampling also provides some very keen interest from those involved as to the formal core sample results \u2013 which are due within a week.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with First Lithium, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/first-lithium-turns-up-proof-the-russians-were-right-theres-lithium-at-gouna\/\">First Lithium turns up proof the Russians were right: There\u2019s lithium at Gouna!<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Gouna\u2019s lithium was discovered by Russian geologists in the 1960s Current project owner First Lithium in the midst of a 8,000m drilling program Three cut <a href=\"https:\/\/economicherald.net\/?p=2662\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2663,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>First Lithium turns up proof the Russians were right: There\u2019s lithium at Gouna! 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