Birimian is actively exploring more than 1,100km2 of highly prospective lithium and gold tenure in Mali. The Company controls:
In March 2016, Birimian acquired the Goulamina Lithium Project (BGS, 2 March 2016) (previously called “Bougouni Lithium Project”). The Goulamina ground-holding hosts a significant, bulk tonnage lithium pegmatite deposit at Goulamina, where the Company estimated a maiden JORC resource of 15.5Mt at 1.48% Li2O (BGS, 27 January 2017). This resource was upgraded (BGS, 14 March 2017), then again (BGS, 22 June 2017) and now stands at 32.9 Mt @ 1.37% Li2O (0.4% Li2O cut-off, 451,000t contained Li2O). A Scoping Study for the Project (BGS, 31 January 2017) concluded that the Goulamina Project was potentially suitable for commercial development and preliminary metallurgical test work confirmed the pegmatite orebody may be processed to yield a high quality chemical grade spodumene concentrate. A Prefeasibility Study is underway with completion expected in the September 2017 quarter.
Birimian's primary gold focus is the Massigui Gold Project, where it has made several significant gold discoveries (BGS, 8 February 2016). A portion of Massigui Gold Project area is subject to option agreements (BGS, 4 November 2016) which contemplate the sale of an Area of Interest to Randgold for mining and processing of ore at the Morila Mill and payment of an option fee and net smelter return royalty to Birimian. Morila exercised its option In April 2017 (BGS, 28 April 2017) and the process of completing the transfer transaction is underway.
The Republic of Mali has an outstanding track record for facilitating and rapidly permitting mineral development projects. The country has a strong mining culture, demonstrated by being the third largest producer of gold in Africa. The Malian Mining Code provides suitable significant fiscal concessions to encourage mineral development.