Source - RNS
RNS Number : 4985K
Two Shields Investments PLC
11 April 2018
 

Two Shields Investments Plc / EPIC: TSI / Market: AIM

11 April 2018

Two Shields Investments Plc

("Two Shields" or the "Company")

Niger Lithium Portfolio Yields 3% plus surface lithium grades

 

Two Shields Investments Plc, the AIM-quoted investing company, is pleased to announce an update on its lithium interests in South-Western Niger, through its 40% shareholding in Xantus Inc. Reassessment of historical data from the Dingoaba permit ('Dingoaba') that lies within Xantus Inc's project area has confirmed that the permit is highly prospective for lithium.

 

Overview:

·    High grade lithium bearing pegmatites recorded at surface during field reconnaissance of historical report (Machens 1961);

·    Lithium bearing pegmatites were identified at Dibilo in the Dingoaba Permit;

·    A further target Dibilo East in the Dibilo Permit, has been identified;

·    Exploration work on the Dingoaba Permit at Dibilo target and one further target within the permit to be fast tracked, to include auger drilling, due to:

o Excellent average grades reported including 3.22% Li2O, 2.05% and 1.45% Li2O at three selected spodumene-mineralised pegmatite veins outcropping

o Individual sample grades of up to 4.65% encountered

o 3.7km2 of surface vein structures identified

o 75% of outcropping veins observed over ~ 2.8km2 of study area were quartz veins with molybdenum mineralisation

o 25% of veins covering an area of 0.57km2 were identified as Spodumene mineralised;

·    Dibilo East:

o grades of 0.5% Li2O returned from massive concentrations of lepidolite found in pegmatite vein

o 150m2 surface area of ultramafic rocks with 120m x 4m surface area of spodumene recorded

·      5,000m of auger geochemical drilling and geological logging has been commissioned across the portfolio to target high grade targets and is due to commence on the 30th April.  The programme is anticipated to last approximately 6 weeks, with samples dispatched on programme completion

·      Results expected during early Q3

 

 

 

 

An extensive drilling programme will be undertaken on a 200m x 100m grid:

 

Permit Name

Drill Points (n)

Total Metres (m)

Dingoaba

1,000

5,000

 

 

Chairman of Two Shields Investments, Charlie Wood, said, "With surface grades of up to 4.65% and multiple showings of lithium bearing spodumene plus a 3.7km2 vein system at Diablo, the historical data underpins the high prospectivity of the Xantus lithium portfolio in Niger, particularly when the regional context of the permit is taken into account.  A work programme including an extensive drill programme is planned at our priority target Dibilo and we look forward to updating our shareholders with the results of this next stage of exploration, as we look to further define the significant mineralisation we have identified to date.  Our investment in Xantus Inc is just one leg of our strategy to invest in highly prospective exploration opportunities focused on technology metals, and with progress being made across all our interests, the next few months will not be short of high impact news flow."

 

Further Information

 

Xantus Inc, through its subsidiary Xantus Niger, holds four contiguous permits in South-Western Niger, 170km from the capital city, Niamey, in the Department of Tera in the Tillabery region.  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.

 

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 prospectivity of the Company's licences.

 

The occurrence of lithium-bearing pegmatites within the Precambrian rocks of the Liptako, were initially reported by Machens (1961). These occurrences were observed in the region of Terra in close proximity to the western contact of the Birimian volcano sedimentary formation with the enclosing granitoids.  The study identified two targets within Xantus's permits with lithium bearing pegmatites namely;

·    Dibilo

·    Dibilo East

 

Dibilo

 

The Dibilo site is characterized by a series of north-northwest, south-southeast trending veins, outcropping within a large granitic body.  The outcropping veins were observed over a study area of approximately 2.8km2 with approximately 75% of the veins being quartz with disseminated molybdenum mineralisation.

 

Approximately 25% of the total veins observed had spodumene mineralisation which occupied a surface area of approximately 0.57 km2. 18 of these spodumene mineralised pegmatite veins were listed and described in detail by Machens (1961).  The total surface area of the spodumene-mineralised pegmatite veins within the study area were estimated at 3.7km2.

 

Description of Host Rock

The pegmatite veins are hosted within a medium grained, grey coloured foliated to streaky textured granitoid.  Foliation are mainly in a south-eastern direction and have varying dips. The contacts between the veins and the host rock are clear and have thin concentrations of chlorite defining these contacts.

 

Description of Spodumene Mineralization

Spodumene mineralisation occur as clear crystals with individual dimensions reaching approximately 30cm in length and 2cm thick. Spodumene mineralisation are not uniformly distributed throughout the veins but had higher concentrations in the middle parts.  Minerals that accompany the spodumene mineralisation include quartz, muscovite, feldspars and accessory minerals such as lepidolite, and garnet.  The pegmatite veins had a general direction between 100o and 110o (discordant to the main foliation of the host granitoid body) and dips were between 30o to 40o.

 

Historical data shows that 3 major spodumene-mineralised pegmatite veins were selected as the focus of previous study over the area with average Li2O grades returned from laboratory analysis of 1.45%, 3.22% and 2.05% respectively.

 

 

Dibilo East

 

This site is represented by an ultramafic rock outcrop with approximate dimensions of 150m2 surrounded by sand dunes.  This outcrop was crosscut by a series of quartz and pegmatite veins with no preferential direction observed.  Though all the quartz veins observed on the outcrop were not mineralised, one of the pegmatite veins located at the northern part of the outcrop had massive concentrations of lepidolite that recorded grades of 0.5% Li2O.  Only trace amounts of spodumene was observed in small intermittent clusters within the pegmatite veins to the southwest of the outcrop.

 

Competent Persons Statement

The exploration results and activity reported in this announcement are based on information compiled by Mr Michael Cantey (BSc Geology, Member of the Australasian Institute of Geoscientists).  Mr Cantey is a full-time employee of Sahara Mining Services and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activities undertaken to qualify as a Competent Person under AIM Guidance for Mining and Oil & Gas Companies and as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.  Mr Cantey consents to the inclusion in the release of the statements based on his information in the form and context in which they appear.

 

 

 

**Ends**

 

For further information please visit www.blenheimnaturalresources.com or contact:

 

Charlie Wood

Two Shields Investments Plc

+44 (0)207 236 1177

 

 

 

Neil Baldwin/Andrew Emmott

Spark Advisory Partners Limited

(Nominated Adviser) 

+44(0)203 368 3554 

 

 

 

Nick Emerson

Frank Buhagiar/Gaby Jenner

SI Capital Ltd (Broker)

St Brides Partners Ltd

+44 (0)1483 413500

+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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