{"id":6205,"date":"2024-02-22T04:18:38","date_gmt":"2024-02-22T04:18:38","guid":{"rendered":"https:\/\/economicherald.net\/?p=6205"},"modified":"2024-02-22T04:18:38","modified_gmt":"2024-02-22T04:18:38","slug":"first-lithiums-faraba-prospect-is-becoming-an-intriguing-target-with-78m-of-combined-intersections-received-and-counting","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6205","title":{"rendered":"First Lithium\u2019s Faraba prospect is becoming an intriguing target with 78m of combined intersections received, and counting"},"content":{"rendered":"<p>High grade intersections at Faraba are building up volume for the maiden resource at Gouna<br \/>\nResults of up to 1.75% Li2O confirm the prospect is significant in its own right<br \/>\nFirst Lithium says more assays from Faraba drill program are pending<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em>: High-grade results up to 1.75% Li2O have been returned in eight diamond holes on First Lithium\u2019s Faraba licence, which is fast becoming a primary prospect at the company\u2019s Gouna project in Mali. <\/strong><\/p>\n<p>While the intersections are not quite as significant as <a href=\"https:\/\/stockhead.com.au\/company\/first-lithium-fl1\/\"><strong>First Lithium\u2019s (ASX:FL1)<\/strong><\/a> Tier-1 Blakala prospect, the volume of intersections at Faraba is nonetheless creating an interesting target.<\/p>\n<p>Faraba is known to host spodumene-bearing pegmatites with substantive surface expressions.<\/p>\n<p>Its potential was enough for the company to decide in November last year to add 2,000m to the original 6,000m program to test Faraba.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Wider intersections bode well for maiden resource<\/strong><\/h2>\n<p>Drilling at the Faraba prospect has now delivered a combined 78m of lithium intersections from diamond drill holes FDD03 to FDD010.<\/p>\n<p>These included multiple high-grade intervals such as 5.97m @ 1.12% Li2O within a broader 12.9m intersection in FDD05 and 2.93m @ 1.75% Li2O within a 6.88m intersection in FDD09.<\/p>\n<p>\u201cFaraba is fast becoming a further significant prospect for FL1 with continued positive assays received,\u201d managing director Venkat Padala said.<\/p>\n<p>\u201cWhilst the intersections are not as significant as FL1\u2019s Tier-1 Blakala prospect, the volume of intersections identified, particularly the wider intersections outlined in these results, is creating an interesting prospect for the project\u2019s maiden resource estimate expected in mid-2024.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>More assays pending<\/strong><\/h2>\n<p>With Stage 1 drilling of 13 diamond holes and seven reverse circulation holes totalling ~2,000m now complete, FL1 is awaiting assays for the remaining holes at Faraba.<\/p>\n<p>It is also waiting on the completion of mapping before planning any follow-up drilling.<\/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><em>\u00a0<\/em><\/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-lithiums-faraba-prospect-is-becoming-an-intriguing-target-with-78m-of-combined-intersections-received-and-counting\/\">First Lithium\u2019s Faraba prospect is becoming an intriguing target with 78m of combined intersections received, and counting<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>High grade intersections at Faraba are building up volume for the maiden resource at Gouna Results of up to 1.75% Li2O confirm the prospect is <a href=\"https:\/\/economicherald.net\/?p=6205\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6206,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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