08:30 Wed 26 Jun 2019
Kodal Minerals PLC - Drilling Programme Commences
[The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
Exploration Drilling Programme Update,
Highlights:
· Marigo Prospect:
o Prospect tested by four wide spaced drill holes targeting outcropping pegmatite veins;
o Pegmatite intersected in drill holes with a maximum intersection of 22m from shallow depth;
o Drilling tested strike length exceeding 300m and geological mapping indicates pegmatites continue to East and West.
· Mafele Concession:
o Reconnaissance drilling targeting prospects identified in geological mapping and geophysical surveys;
o Programme ongoing with six drill holes completed to date;
o Pegmatite intersected in drill holes with a 15m intersection recorded at shallow depth;
o Drilling is wide spaced and testing various geological and geophysical targets.
· All results currently pending
"As stated, our priority is the finalisation of our engineering and development work that is progressing very positively with the finalisation of the technical reports for the ESIA and the very positive overall response to our Community Consultation meetings. We expect to lodge the ESIA application when we have reviewed and compiled all the technical reports and will be continuing with the mining and mineral processing assessment as we progress towards lodging our
"The reconnaissance drilling at our Mafele Concession is the maiden drill programme undertaken on this new concession and the targets have been identified by our geological mapping and geophysical surveys. This initial drilling programme has been planned to test a wide range of geophysical and geological targets and our geologists are reporting that the initial drill holes confirm pegmatite veins beneath the transported cover. Once again, this is early stage exploration and we are waiting for assay results, however we are encouraged by the initial pegmatite intersections and we expect to continue drilling when results are received."
Figure 1:
Further Information
Marigo Prospect,
The Marigo Prospect is defined by geological mapping that identified outcropping pegmatite veins with abundant coarse spodumene minerals. The prospect is located mid-way between the Boumou and Sogola-Baoule prospects and the pegmatite veins are interpreted as striking in an east-west direction, similar to the other prospects in the region (Figure 2).
Figure 2: Marigo Prospect location
Figure 3: Photograph of coarse grained Spodumene minerals within pegmatite vein at Marigo
The geological mapping of the prospect identified outcrop and sub-crop material extending for several hundred metres, and a ground magnetic geophysical survey highlighted structural control of the veins that has been targeted by this reconnaissance drilling.
The drilling programme consisted of 4 drill holes for 474m with all holes intersecting pegmatite veins, with a thickest intersection of 22m from shallow depth in drill hole MDRC130. The drilling has been completed on a very wide spacing and will require follow up drilling to define the pegmatite veins and potential for additional mineralisation to be identified.
All assay results are pending, with samples due to be dispatched to the laboratory following preparation.
Mafele Concession,
The Mafele Concession is located approximately 25km to the west of the
Kodal's exploration team has completed initial geological mapping and a ground geophysical survey. The concession area is largely covered by transported material and outcropping geology is very limited. The exploration team has defined initial targets based on interpretation of the geology and geophysics and comparison to the neighbouring Goulamina concession owned by
The drilling programme is continuing and to date 6 drill holes for 661m have been completed. All drill holes have intersected pegmatite veins with veins exceeding 12m in width and hosting spodumene mineralisation.
All results are pending.
**ENDS**
For further information, please visit www.kodalminerals.com or contact the following:
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Tel: +61 418 943 345
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Tel: 020 3328 5656 |
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Tel: 020 3470 0470 |
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Tel: 020 7236 1177 |
About
Prospect |
Indicated |
Inferred |
Total |
||||||
Tonnes (Mt) |
Li2O% Grade |
Contained Li2O (kt) |
Tonnes (Mt) |
Li2O% Grade |
Contained Li2O (kt) |
Tonnes (Mt) |
Li2O% Grade |
Contained Li2O (kt) |
|
Sogola_Baoule |
8.4 |
1.09 |
91.9 |
3.8 |
1.13 |
42.8 |
12.2 |
1.10 |
134.8 |
Ngoualana |
3.1 |
1.25 |
39.2 |
2.0 |
1.12 |
22.1 |
5.1 |
1.20 |
61.3 |
Boumou |
|
|
|
4.0 |
1.02 |
40.4 |
4.0 |
1.02 |
40.4 |
TOTAL |
11.6 |
1.13 |
131.2 |
9.7 |
1.08 |
105.3 |
21.3 |
1.11 |
236.5 |
Notes: Mineral resources are reported using a 0.5%Li2O cut-off. Figures may not sum due to rounding. The contained metal is determined by the estimated tonnage and grade.
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