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Birimian Ltd.
Summary
| Project: | Bougouni | |
|---|---|---|
| Deposit: | Goulamina | |
| Location: | Mali | |
| Commodities: | Lithium | |
| Date: | 3/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 13-3-2017: Birimian Ltd. announces a Scoping Study report for its Goulamina deposit at the Bougouni project. Clarification of material assumptions relating to the Bougouni Scoping Study. Birimian Limited (ASX: BGS; “Birimian” and “Company”) provides the f | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Birimian Limited (ASX: BGS; “Birimian” and “Company”) provides the following clarifications and additional disclosure (Rule 5.16), regarding the material assumptions relating to the Bougouni Project Scoping Study. Mining studies now undertaken to supplement those previously announced on 31 January 2017 have indicated that a staged pit development will allow higher confidence Indicated material to be mined as a higher priority ahead of Inferred material in the conceptual mining schedule. The presently defined Indicated resources at Main Zone occur at surface in a single, continuous zone of mineralised material (see ASX: 27 October 2016). The company anticipates the conceptual 1Mt per annum staged development for the Project could reasonably exploit this at-surface Indicated category material early in the mining schedule to support approximately 5.5 years of early production and provide for a viable project (based on Indicated resources only). In this scenario, the payback period for the project is approximately 3 years. All other material assumptions in the Scoping Study announcement are unchanged and the Company believes it has a reasonable basis to conclude the Project is viable based on the presently defined Indicated category resources only. Notwithstanding this assessment, it is currently the intention to develop both the Inferred and Indicated material together. Infill drilling has recently been completed to upgrade resource categories in support of this plan. | |
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