Kodal Minerals' exploration drilling continues to return encouraging results

All final assay results have been incorporated into the company's database and are being incorporated in the mineral resource estimate work that is progressing ahead of expected finalisation and release in September

Proactive Published 22/08/2018

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Kodal Minerals PLC (LON:KOD) said high-grade mineralisation has been returned for the Sogola-Baoule prospect in Mali where mineralisation remains open along strike.

All assay results have now been received for the drilling campaign completed at Bougouni in June 2018 and confirmed that mineralisation continues to extend to the north-east and has increased in thickness.

WATCH: 'Significant opportunity' for Kodal Minerals to expand main Sogola-Baoule prospect

Intersections highlighted by the company include:

Hole MDRC106: 32 metres (m) at 1.61% lithium oxide (Li2O) from 112m;
Hole MDRC109: 26m at 1.37% Li2O from 85m;
Hole MDRC107: 21m at 1.64% Li2O from 157m

Exploration drilling at the Boumou, South Bougouni and Ngoualana prospects has identified new zones of lithium mineralisation within the project area. Intersections include:

15m at 1.05% Li2O from 88m in drill hole MDRC094 - South Bougouni prospect;
6m at 1.35% Li2O from 77m in drill hole KLRC108 - Boumou Prospect;
5m at 1.59% Li2O from 80m in drill hole KLRC165 - Ngoualana South Prospect

"The continued wide, high-grade intersections at the Sogola-Baoule prospect are very encouraging and highlight the potential of this prospect to be our main target area within the Bougouni project. We will be returning to this prospect in August to undertake diamond drilling to target geological information from infill drilling and further advance the prospect with extensional drilling,” said Bernard Aylward, the chief executive officer of Kodal Minerals.

"We are also very pleased that our exploration drill testing of new target areas continues to return encouraging mineralised intersections,” he added.

“Our focus during this drilling campaign has been on the Ngoualana, Sogola-Baoule and Boumou prospects to underpin a maiden resource estimate which we are targeting to release in September; however, we are also continuing to demonstrate further potential across our licence area and as a result there is significant scope to build on the initial resource estimate going forward," Aylward said.