Kodal Minerals PLC (LON:KOD) was the London market’s top gainer on the final trading session of 2016 after the lithium miner issued an upbeat drilling report.
The AIM-listed group said the final 44 rock-chip samples collected from the Bougouni project in southern Mali have confirmed further high-grade lithium mineralisation at the site.
Assay results from the sampling showed grades of up to 2.03% lithium oxide at a newly-identified pegmatite vein located to the south of the Bougouni concession area
Kodal added that the first pass reverse circulation drilling programme targeting three priority areas at Bougouni has been completed, with a total of 18 drill holes at the Sogola, Ngoualana and Kola veins.
The group said all samples for the drilling have been submitted for laboratory analysis and results are expected by the end of January 2017.
Kodal’s chief executive Bernard Aylward said: “These results from our ongoing exploration programme highlight the prospectivity and value of our Bougouni project."
He added: "Our ongoing geological mapping and rock-chip sampling programme is continuing to return high-grade lithium samples and is defining new target zones.“
In late morning trading, Kodal were up 40%, or 0.05p at 0.175p.