08:00 Wed 18 Sep 2019
Kodal Minerals PLC - Bougouni Project Development & Exploration Update
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")
Highlights:
· Site visit to the San Pedro Port (the 'Port'), Côte d'Ivoire completed;
o Engagement with the Port authorities regarding the potential export of spodumene concentrate; full support and availability confirmed.
· Receipt of indicative pricing on transport of spodumene concentrate following discussions with an experienced shipping and logistic service company with relevant experience of bulk commodity transport throughout
· Continued improvements in the open pit ('Open Pit') optimisation studies following discussions with experienced Malian mining contractors confirming competitive mining costs for
· Bulk sample loaded onto a ship and departed
o Sample material is expected to arrive in the
· The bulk sample size will be processed through an existing dense media separation ('DMS') facility, providing beneficial information in support of processing and recoveries at an operational scale.
Exploration
· Final assay results received for the exploration drilling completed prior to the wet season;
o Broad zones of mineralisation confirmed at the Marigo prospect and low-level mineralisation from the reconnaissance at the Mafele concession.
· Results include:
o 42m at 0.22% Li2O from 54m in drill hole MDRC131, Marigo prospect;
o 17m at 0.35% Li2O from 58m and 31m at 0.23% Li2O from 91m in drill hole MDRC132, Marigo prospect.
· Reconnaissance surface geochemical sampling completed at the Dabakala and Korhogo concessions in Côte d'Ivoire.
· Gold assay results confirm a coherent gold anomaly at Dabakala extending for over 10km in strike with results up to 97ppb gold.
· Gold assay results at the Korhogo prospect confirm anomalous zones extending for 2km with results up to 83ppb gold.
"Our exploration programmes continue to highlight the potential for further discoveries at both the
"As previously announced, our Environmental and Social Impact assessment ('ESIA') has been lodged with the
Further Information
Mine Engineering
Mine engineering for the Feasibility Study is well advanced and
Detailed mine design and scheduling will commence following completion of the
Study phase engineering design work is complete for mining geotechnical and non-process infrastructure, including office, camp, access roads, water and power facilities. With the recent completion of metallurgical test work, the mineral process flowsheet definition has been finalised and now allows the Company to move to finalising the plant engineering and supporting process infrastructure designs for the study phase.
Bulk Sample and Metallurgy
The bulk sample has been dispatched from the
Product Transport Study
The Company's management team visited the preferred port facility for the load-out of final lithium concentrate, the San-Pedro Port in Côte d'Ivoire. A meeting was held with key representatives from the
The visit included an inspection of the Port's container handling facility, and importantly their bulk materials handling establishments. SPAP is currently servicing exports of many bulk commodities, including iron ore and manganese concentrate, most notably, the iron ore export tonnes out of San Pedro are more than double the Company's future demands. Very positive feedback was received from SPAP personnel, expressing their interest to assist with the Project, and providing the confidence that the San Pedro Port has the knowledge and capacity to handle bulk material exports for the
The Company has also completed a survey of the proposed transport route from Bougouni to the San Pedro Port to confirm suitability for bulk commodity transport. This information has been supplied to the local logistic group who have confirmed suitability of the preferred route.
Exploration
Bougouni Lithium Exploration
Final assay results have been received for the exploration drilling completed at the Marigo Prospect,
Marigo Prospect
The Marigo Prospect ('Marigo' or the '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.
This first campaign drilling programme consisted of 4 drill holes for 474m, with all holes intersecting pegmatite. The assay results confirm that the pegmatites are mineralised, however in this location the lithium mineralisation is low tenor. The review of the drill hole location and drill chips indicate that the degree of weathering and proximity to a creek area may have led to a dilution of lithium in the weathering process. The wide zones of shallow mineralisation are very encouraging, and the Company is focussing on the strike extensions of the Prospect in areas where there is less weathering and potential impact of dilutive activity. This weathering effect has previously been noted at the Ngoualana and Sogola-Baoule prospects where the zones closest to active drainages and deeper weathering have demonstrated reduced lithium grades, similar to the Finniss project in Darwin of Core Lithium and Greenbushes of
Mineralised intersections for the reverse circulation ('RC') drilling calculated using a 0.2% Li2O lower cut-off, maximum 2m internal continuous dilution are tabled below:
Hole Id |
Northing |
Easting |
Hole Depth m |
From m |
To m |
Thickness m |
Li2O % |
|
MDRC129 |
653960 |
1254800 |
103 |
28 |
33 |
5 |
0.23 |
|
MDRC130 |
653795 |
1254785 |
127 |
40 |
50 |
10 |
0.21 |
|
MDRC130 |
|
|
|
70 |
79 |
9 |
0.20 |
|
MDRC130 |
|
|
|
99 |
104 |
5 |
0.20 |
|
MDRC131 |
653700 |
1254800 |
120 |
54 |
96 |
42 |
0.22 |
|
MDRC132 |
653700 |
1254740 |
124 |
58 |
75 |
17 |
0.35 |
|
MDRC132 |
|
|
|
91 |
122 |
31 |
0.23 |
|
Notes: Drill holes are RC drill holes. Drill holes prefixed MDRC* are from the Marigo prospect located within the Madina concession. Drill holes have been sampled on a 1.0 basis with samples collected via a riffle split system. Drill hole collars are surveyed using a differential GPS with sub 1-metre accuracy, coordinate system WGS84 - Zone 29N, and all holes are survey down-hole for dip and azimuth on approximately 30m intervals. All drill holes are geologically logged, and sampling for analysis in based on geological boundaries. Samples analysed by ALS Global. Assay results are reported as Li% and converted to Li2O% by a factor of 2.153.
Mafele Concession
The Mafele Concession is located approximately 25km to the west of the
All drill holes intersected lithium mineralised pegmatite bodies, however, the lithium grade was generally low. Further exploration activity will focus on targeting the pegmatite ones in areas of less weathering and attempt to define zones of thicker pegmatite veins.
Côte d'Ivoire Gold Exploration
Kodal maintains a suite of prospective gold exploration gold projects in
The geochemical sampling consisted of conventional surface samples and termite mound sampling (where available) on a nominal 2km x 200m sample spacing at Dabakala (225 samples), infilling an area of previously defined gold anomalism, and a nominal 1km x 200m spacing at Korhogo (190 samples) targeting infill at several gold anomalous zones and structural targets within the Korhogo project.
The Dabakala project is a single concession in central Côte d'Ivoire where previous work completed by the Company highlighted an extensive surface geochemical anomaly and field geological mapping indicated the association of sheared and altered geology associated with the anomaly. This is a large surface anomaly, extending for over 10km of strike and up to 800m in width and exploration is at an early stage. The follow-up work completed by the company infilled the anomaly to a nominal 1km x 200m spacing over the key anomaly (and notes that still is very wide and reconnaissance level) and assay results received confirm the anomaly with results up to 97ppb returned and confirming the extent of the anomaly. Further work is required to define this prospect prior to initial drill testing.
The Korhogo project is a single concession is north central Côte d'Ivoire and several phases of geochemical sampling has defined surface geochemical anomalies. The recent sampling by the company has confirmed gold anomalous zones extending for over 2kms in strike and up to 600m in width. Further exploration is required to review these targets and prioritise further work.
The Company is continuing to review opportunities for the prospective suite of gold projects.
**ENDS**
For further information, please visit www.kodalminerals.com or contact the following:
|
Tel: +61 418 943 345
|
|
Tel: 020 3328 5656 |
|
Tel: 020 3470 0470 |
|
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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