Kodal Minerals has agreed the sale of its Bougouni West concessions for a total cash consideration £2.0mln alongside the immediate transfer and sale of the Mafélé Ouest concession.
In addition, Kodal reported initial drilling results from assays at the Boumou prospect were the widest seen so far at up to 51m and with the highest grade intersections at grades up to 3.27% Li2O.
Kodal added the drill results confirm an extension of the Boumou prospect for over 250m to the west, and geological mapping indicates potential for over 700m of additional strike length to be added.
Bernard Aylward, Kodal Minerals chief executive, added: These new intersections are the widest and highest grade so far returned from Boumou, and the geological reconnaissance identifying further extension of strike length point to Boumou developing into a significant prospect.
Given the quality of these results, it is likely that the Boumou prospect will be the focus of our further exploration drilling programme which is expected to recommence in early May when all assay results have been received.
"The sale of the Bougouni West concessions is a direct result of our focus on the upside potential at our Bougouni Project.”