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Kodal Minerals’ Bougouni lithium project continues to ‘exceed expectations’

Published: 08:34 08 Feb 2017 GMT

a drill drilling into the ground
A follow-up drill programme at Ngoualana is slated to start “as soon as possible”

West Africa-focused explorer Kodal Minerals PLC (LON:KOD) has told investors that its Bougouni lithium project in Southern Mali continues to exceed its own expectations.

The final assay results from the first reverse circulation (RC) drilling programme at the Ngoualana prospect continued to return wide, high-grade intersections.

Some of the highlights include hole KLRC002 which intersected 28 metres (m) at 1.85% lithium from 72m below surface, as well as hole KRC004 which intersected 22m at 1.64% lithium from 48m below the surface.

 The results confirm previous high grade mineralisation of 21m at 1.7% lithium from a depth of 62m which Kodal announced earlier this month.

“We are very pleased to report these final results confirming the high-grade lithium mineralisation at Ngoualana,” said chief executive Bernard Aylward.

“This prospect is continuing to exceed our expectations with the wide intersections of spodumene rich pegmatite remaining open along strike and at depth.”

Mineralisation remains open at depth, the explorer said, with all drilling so far looking at near surface exploration.

A follow-up drill programme at Ngoualana is slated to start “as soon as possible” to target the strike extensions and test the depth continuity.

At the wider Bougouni project, trench sampling is continuing and is targeting several new prospects identified in the rock chip and geological reconnaissance. These targets will also be included in the follow-up drill programme.

Kodal has upped its efforts with regards to its exploration programme as it looks to establish a maiden resource for the project as quickly as possible.

Shares were up 4% to 0.47p in early deals.

Kodal Mineral reports significant progress at Bougouni lithium project in Mali

Kodal Minerals PLC (AIM:KOD) CEO Bernard Aylward joins Proactive's Stephen Gunnion with details of the latest milestones at the Bougouni lithium project in southern Mali. Aylward highlighted that the project has seen significant progress following the completion of a transaction last...

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