TIDMTSI
RNS Number : 1007Q
Two Shields Investments PLC
04 June 2018
Two Shields Investments Plc / EPIC: TSI / Market: AIM
4 June 2018
Two Shields Investments Plc
("Two Shields" or the "Company")
Exploration Update at Highly Prospective West African Lithium
Portfolio
Two Shields Investments Plc, the AIM-quoted investing company,
is pleased to announce an update on its lithium interests in
South-Western Mali and South-Western Niger, through its 40% and 30%
shareholding in Xantus Inc ('Xantus') and Nashwan Holdings Limited
('Nashwan') respectively.
Highlights
-- Third stage of the exploration programme across four lithium
exploration permits in Mali is near to completion. This has
involved a 5,000m auger drilling campaign testing for greater
concentrations of Li(2) O below the extensively weathered
surface
-- Drilling has been focused on the six pegmatite outcrop
clusters where elevated levels of Li(2) O were previously
identified
-- Completion of field work in expected in the next seven days; results anticipated Q3 2018
-- In Niger, the planned work programme has commenced. This
includes 5,000m of auger geochemical drilling and geological
logging focusing on high grade targets, Dibilo and Dibilo East,
previously identified at the Dingoaba Permit where grades of up to
3.22% Li(2) O have been reported
-- The Niger drill and work programme has been organised using
the information garnered from the reassessment of historical data
(Machens 1961) that reconfirmed that the permit is highly
prospective for lithium
-- The Mali and Niger lithium exploration permits are located in
close proximity, and display a similar geology, to Birimian Limited
and Kodal Minerals' significant lithium discoveries. Previous
results from both sites have been indicative of a similar potential
for high grade Li(2) O mineralisation
Chairman of Two Shields Investments, Charlie Wood, said, "Our
West African lithium portfolio is progressing well as we look to
quantify the prospectivity of what we believe to be an exciting
lithium package that presents a significant opportunity for value
generation for Two Shields. In Mali the potential for high grade
mineralisation beneath the weathered surface has been tested by
5,000m of auger drilling and now a similar work programme is being
deployed in Niger following the recent highly promising results
including grades of 3.22% lithium oxide. The geology in Niger and
Mali are both highly prospective being located within a rapidly
emerging global lithium province.
"Demand for lithium is anticipated to continue to increase
rapidly resulting in a critical supply-demand gap that should
positively impact upon pricing in the near future. Our investment
in this lithium portfolio is in in line with the Board's investment
strategy of targeting technology metals and we believe the assets
are complementary to our investment in Cobalt Blue Holdings,
currently developing a portfolio of cobalt licences in Cameroon. We
also have an investment in Brandshield, a pioneering international
cyber-security company that recently launched the world's first
decentralised online anti-scam platform utilising blockchain
technology. I look forward to receiving updates from across Two
Shields investment portfolio and updating shareholders
accordingly."
Mali - Dieba, Nimissila, Djidje and Meniambala
Two Shields has a 40% stake in of Xantus and a 30% interest in
Nashwan which together control 100% of the Malian exploration
licences comprising a total surface area of approximately 370km(2)
.
Good progress has been made and the third stage of the
exploration programme at four of the south-western Mali lithium
exploration permits is now close to completion. This work has
involved a 5,000m auger drilling campaign intended to test for
greater concentrations of Li(2) O below the extensively weathered
surface. Field work is anticipated to be completed within the next
seven days. The Company expects to receive the first set of assay
results within a month, and final assay results approximately six
to eight weeks after completion of work (Q3 2018).
The auger drilling programme provides samples from below the
lateritic cover of the permit areas, testing for high grade Li(2) O
mineralisation below the effects of surface weathering. The
previous stage of exploration, a reconnaissance and sampling
survey, involved the collection of 53 samples from outcropping
pegmatites. Six pegmatite outcrop clusters were identified and
samples from these returned elevated levels of Li(2) O. This
information was then used to identify drill targets for this latest
stage of exploration.
Auger drilling has been undertaken on a 400m x 400m grid and
distributed across the four permits as follows:
Permit Name Sampling Points Total Meters Samples (n)
(n) (m)
Dieba 25 243 26
---------------- ------------- ------------
Nimissila 127 1204 133
---------------- ------------- ------------
Djidje 138 1204 145
---------------- ------------- ------------
Meniambala 153 1577 161
---------------- ------------- ------------
443 4,228 465
---------------- ------------- ------------
The Malian lithium project areas are located under 40km from
Birimian Limited's Goulamina project. The Goulamina project has a
mineral resource of 15.5 Mt a 1.48% Li(2) O and is contiguous to
the Dieba permit area. Kodal Minerals Bougouni Lithium project is
adjacent to the Nimissila and Djidje permits and has recorded
lithium grades of greater than >2%Li(2) O.
Beau Nichols of Sahara Mining, the contracted work partner
across the portfolio, said, "Sahara have managed the exploration
reconnaissance. The permits are located in favourable host rocks
similar to, and in close proximity to peer explorers. Sahara
geologists identified pegmatitic rocks that have returned above
background Li2O. This and the regional geology setting is a
positive indication to finding mineralised pegmatites below the
majority cover. Auger Geochemistry has been very successfully
applied by ASX clients in the same region."
Niger - Dingoaba
Two Shields has exposure to the lithium exploration licences in
Niger through its 40% interest in Xantus.
A planned work programme has commenced across the Niger lithium
portfolio which will include 5,000m of auger geochemical drilling
and geological logging. This shall focus on the high-grade targets,
Dibilo and Dibilo East, identified through previous work completed
across the Dingoaba permit.
The permit areas have historically proven lithium resources and
substantial swarms of spodumene bearing pegmatite veins have been
encountered and mapped over 75% of the permit areas indicating the
highly prospective nature of the permits.
An extensive drilling programme is planned and will be
undertaken on a 200m x 100m grid:
Permit Name Drill Points (n) Total Metres (m)
Dingoaba 1,000 5,000
----------------- -----------------
As previously announced (RNS dated April 11) work completed to
date across the Niger portfolio includes the reassessment of
historical data which confirmed that the permit area is highly
prospective for lithium. Highlights included:
-- Excellent average grades reported at the Dibilo target
including 3.22% Li(2) O, 2.05% Li(2) O and 1.45% Li(2) O at three
selected spodumene-mineralised pegmatite veins outcropping
-- 3.7km(2) of surface vein structures identified at the Dibilo
target; 75% of outcropping veins were quartz veins with molybdenum
mineralisation and 25% were identified as Spodumene mineralised
-- Grades of 0.5% Li(2) O returned from massive concentrations
of lepidolite found in pegmatite veins at Dibilo East target
-- 150m(2) surface area of ultramafic rocks with 120m x 4m
surface area of spodumene recorded at Dibilo East target
The targets are in close proximity to the western contact of the
Birimian volcano sedimentary formation. Birimian Limited's and
Kodal Minerals Plc's project areas, both of which have made
significant lithium discoveries, are similarly located in close
proximity to the Birimian volcanic formation indicating the
potential of the Company's licences.
**Ends**
For further information please visit
www.blenheimnaturalresources.com or contact:
Charlie Wood Two Shields Investments Plc +44 (0)207 236 1177
Spark Advisory Partners Limited
Neil Baldwin/Andrew Emmott (Nominated Adviser) +44(0)203 368 3554
Nick Emerson SI Capital Ltd (Broker) +44 (0)1483 413500
Frank Buhagiar/Gaby Jenner St Brides Partners Ltd +44 (0)207 236 1177
Notes to Editors:
Two Shields Investments Plc is an investing company, quoted on
the AIM market of the London Stock Exchange, with a strategy
focused on identifying and investing in opportunities in mineral
exploration and mining, as well as technology associated with the
natural resources sector. The Company has an experienced Board of
Directors with a proven pedigree in the acquisition, development
& sale of projects and creating value for shareholders. The
investment mandate covers unquoted and quoted businesses, as well
as direct project investment.
The Company currently has investments in a number of companies
which provide exposure to commodities which are relevant to the
rapidly growing technology metal sector, including lithium, cobalt
and nickel, as well as strategic positions in a geoscience
consultancy and a leading international company in the online brand
protection, anti-counterfeiting and anti-fraud sector which has
developed the one of the most comprehensive systems using AI
powered cyber intelligence systems and is developing its
proprietary blockchain-based platform for anti-fraud purposes.
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END
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