Bass Metals Ltd has completed its technical due diligence as part of the conditions precedent to acquire the potentially high-grade spodumene hosted lithium project: Millie’s Reward, located in Madagascar.
The project is part of a license with existing mining approval and complements Bass’ presence in Madagascar and its aim to become a leading producer and supplier of industrial minerals concentrates, with an initial focus on delivering baseline profitable production at the company’s Graphmada large flake graphite mine.
Fieldwork has confirmed outcropping pegmatites with significant spodumene mineralization, with grades up to 7.08% Li2O and additional samples returning 6.93% AND 6.91% Li2O, correlating with historic data for both grade and location.
Millie’s Reward is a highly prospective conventional spodumene hosted Li2O deposit. A majority of the pegmatitic dykes and sills within the mining permits are over 10 m in thickness, with swells in areas of up to 50 m in thickness, while being up to several hundred metres in length.
Adjacent to the project area is the Holcim talc mine, which has a sealed road for product transport and grid power installed. In addition to the potential access of this infrastructure, Millie’s Reward has extensive water supplies, accommodation and an available local workforce.
Most of the large dykes have been subject to very little modern geological assessment, as all the mining activity performed in the past occurred at an artisanal scale, operated by the local miners working for gemstones.
Base Metals CEO, Tim McManus: “The team at Bass Metals are excited by these results at Millie’s Reward and look forward to the completion of commercial due diligence and finalising the transaction. However, the company’s primary focus remains optimizing production of high value concentrates from Graphmada (pictured) in 2017.”