- Two Shields Investments said recent assay testing showed its prospects in Mali were prospective for lithium mineralisation and warranted additional exploration.

Two Shields has a 40% shareholding in Xantus and a 30% shareholding in Nashwan Holdings, which together own licences in Mali.

Independent consultancy Sahara confirmed the project area as prospective for defining lithium-bearing pegmatites.

Lithium oxide values returned ranged between 2.15 parts per million and a maximum value of 293 parts per million.

'The board is encouraged by these results,' chairman Charlie Wood said.

'We will await notification of Xantus' and Nashwan's development plan, regarding both the Mali and Niger lithium portfolios and will then update our shareholders accordingly.'

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