{"id":9625,"date":"2024-05-14T04:41:35","date_gmt":"2024-05-14T04:41:35","guid":{"rendered":"https:\/\/economicherald.net\/?p=9625"},"modified":"2024-05-14T04:41:35","modified_gmt":"2024-05-14T04:41:35","slug":"first-lithium-sharpens-the-pencils-for-maiden-lithium-resource-as-met-test-work-progresses","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=9625","title":{"rendered":"First Lithium sharpens the pencils for maiden lithium resource as met test work progresses"},"content":{"rendered":"

First Lithium is closing in on a maiden lithium resource at the Blakala project in Mali
\nMet test work is under way with the final assays from first stage drilling at Blakala due in a week
\nFL1\u2019s JORC resource announcement will come on the heels of the sale of Leo Lithium\u2019s share in the world class Goulamina mine, valuing that project at $1.3bn<\/p>\n

\u00a0<\/p>\n

Special Report:<\/em><\/strong> As Mali becomes one of the world\u2019s emerging hard rock lithium hotspots, First Lithium is well on the way to delivering a maiden JORC compliant resource, just the second after the country\u2019s world class Goulamina deposit.<\/strong><\/p>\n

First Lithium (ASX:FL1)<\/a> says metallurgical test work is progressing at its Blakala project ahead of a June 2024 maiden resource, where the final exploration samples from a phase 1 exploration drilling program are being analysed at a South African lab and the final assays expected to be released within a week.<\/p>\n

The key here is working out the likely lithium concentrate recovery rates at Blakala, results that will be greatly anticipated by investors.<\/p>\n

It comes just days after the announcement from Leo Lithium (ASX:LLL)<\/a> that it had sold a 40% stake in Goulamina, a 500,000tpa spodumene mine due to begin exporting concentrate for EV chemicals in the September quarter, for US$342.7m to JV partner and lithium behemoth Ganfeng.<\/p>\n

In Aussie dollar terms that\u2019s almost $1.3 billion. That would likely have been more had the project not been held up by negotiations with the Malian Government that saw Leo pause trading in its shares.<\/p>\n

Blakala is located just 100km to the south-east of Goulamina, which is comparable in size to WA\u2019s monster Mt Holland and Kathleen Valley mines.<\/p>\n

\u00a0<\/p>\n

Second mover advantage<\/strong><\/h2>\n

Second movers like First Lithium will now have a clearer pathway to understand the process around developing new lithium mines in Mali, with Goulamina to be the first spodumene concentrate exporter in all of Africa.<\/p>\n

FL1 MD Venkatesh Padala said the company is well on track to providing a crucial maiden resource.<\/p>\n

\u201cWith FL1\u2019s maiden MRE expected in June along with pending assays and met results it is an exciting time for FL1,\u201d he said.<\/p>\n

\u201cExploration license renewals have been submitted and are due to be processed and further planned exploration work can commence on conclusion of the rights issue currently being undertaken.<\/p>\n

\u201cThe sale of the neighbouring Leo Lithium asset also adds an interesting dynamic, with their project valued at over $1b. The next few months will be an interesting time for FL1.\u201d<\/p>\n

\u00a0<\/p>\n

More drilling to come<\/strong><\/h2>\n

There is little doubt that a maiden resource will only be start of a larger story at Blakala.<\/p>\n

Assays to date have boasted impressive widths and grades, with the most recent drilling released in early April including a hit of 27.3m at 1.67% Li2O from 20.7m in the Eastern Pegmatite with 21m at 1.96% Li2O from 22m incorporated in that.<\/p>\n

Strikes from the Western Pegmatite included 19m at 1.51% Li2O from 46m and 21m at 1.66% Li2O from 32m, with a bevy of other thick and high grade strikes from over 12,000m of diamond and RC drilling completed to date.<\/p>\n

FL1 currently has a $3.2m rights issue ongoing at 22.5c a share, with $1.75m already committed by major shareholders in pre-commitments reported on April 30.<\/p>\n

Once that\u2019s done planning will begin for a phase 2 drilling program, which is expected to take place from the September quarter.<\/p>\n

FL1 has appointed Pivot Mining Consultants to manage the met test work and resource estimation process.<\/p>\n

\u201cPivot will also advise on all aspects of the proposed phase 2 drilling exploration project and reporting methods based on the pending MRE results for phase 1 of the project once received,\u201d FL1 said.<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with First Lithium, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

\u00a0<\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post First Lithium sharpens the pencils for maiden lithium resource as met test work progresses<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

First Lithium is closing in on a maiden lithium resource at the Blakala project in Mali Met test work is under way with the final [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":9626,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nFirst Lithium sharpens the pencils for maiden lithium resource as met test work progresses - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=9625\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Lithium sharpens the pencils for maiden lithium resource as met test work progresses - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"First Lithium is closing in on a maiden lithium resource at the Blakala project in Mali Met test work is under way with the final [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=9625\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-14T04:41:35+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=9625#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=9625\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"First Lithium sharpens the pencils for maiden lithium resource as met test work progresses\",\"datePublished\":\"2024-05-14T04:41:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=9625\"},\"wordCount\":689,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=9625#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/First-Lithium-1-wYONzg.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=9625\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=9625\",\"name\":\"First Lithium sharpens the pencils for maiden lithium resource as met test work progresses - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=9625#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=9625#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/First-Lithium-1-wYONzg.jpeg\",\"datePublished\":\"2024-05-14T04:41:35+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=9625#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=9625\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=9625#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/First-Lithium-1-wYONzg.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/First-Lithium-1-wYONzg.jpeg\",\"width\":2134,\"height\":1200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=9625#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"First Lithium sharpens the pencils for maiden lithium resource as met test work progresses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"First Lithium sharpens the pencils for maiden lithium resource as met test work progresses - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=9625","og_locale":"en_US","og_type":"article","og_title":"First Lithium sharpens the pencils for maiden lithium resource as met test work progresses - Economic Herald","og_description":"First Lithium is closing in on a maiden lithium resource at the Blakala project in Mali Met test work is under way with the final [more...]","og_url":"https:\/\/economicherald.net\/?p=9625","og_site_name":"Economic Herald","article_published_time":"2024-05-14T04:41:35+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=9625#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=9625"},"author":{"name":"","@id":""},"headline":"First Lithium sharpens the pencils for maiden lithium resource as met test work progresses","datePublished":"2024-05-14T04:41:35+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=9625"},"wordCount":689,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=9625#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/First-Lithium-1-wYONzg.jpeg","articleSection":["Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=9625","url":"https:\/\/economicherald.net\/?p=9625","name":"First Lithium sharpens the pencils for maiden lithium resource as met test work progresses - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=9625#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=9625#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/First-Lithium-1-wYONzg.jpeg","datePublished":"2024-05-14T04:41:35+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=9625#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=9625"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=9625#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/First-Lithium-1-wYONzg.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/First-Lithium-1-wYONzg.jpeg","width":2134,"height":1200},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=9625#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"First Lithium sharpens the pencils for maiden lithium resource as met test work progresses"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/9625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9625"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/9625\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/9626"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}