2018/14/11 – Two Shields Investments PLC on Monday said a geochemical program at its lithium interests in Niger has found lithium anomalies above previous results.
Shares in Two Shields were up 14% at 0.16 pence on Monday.
Analysis of the programme has identified around six separate anomalies which « potentially represent hidden pegmatite swarms » and sampling at the Dibilo target found anomalies that are prospective for lithium-bearing pegmatites.
Two Shields, which invests in mining, digital assets, and financial technology, holds an interest in the south-western Niger project via its 40% holding in Xantus Inc.
Xantus, in turn, holds four contiguous permits in the region via its Xantus Niger subsidiary, all of which have proven lithium occurrences.
The Niger programme involved 3,000 metres of auger drilling and a geological logging campaign, which completed in July. 860 drill holes were completed, to an average depth of 3.5 metres from the surface.
Lithium oxide values ranged between 2.5 parts per million and a maximum of 597 parts per million with lithium pegmatites often leached at the surface and returning lower grades.
The exploration results are based on information by Michael Cantey, a full time employee of Sahara Natural Resources. Sahara has found the Xantus permit area to be « prospective for lithium-bearing pegmatites ».
« The auger geochemical program conducted by Xantus across the Niger permit area has successfully demonstrated a significantly greater number of lithium anomalies than previously recorded, and provided a better understanding of the distribution of mineralisation across the permit area, » said Two Shields Chairman Charlie Wood.
« The company has been informed that Xantus are considering the next stage in the development of the Niger permit area, and I look forward to updating shareholders further once this has been determined, » Wood added.
Alliance News /Sahel-Elite