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Kodal Minerals plans larger operation at Bougouni in Mali

Latest drilling confirms the consistency of mineralisation says junior

drill core
Drill results have been consistently strong

Kodal Minerals PLC (LON:KOD)  is considering a larger mine at its Bougouni lithium mine in Mali following another strong set of drill results.

The junior is now eyeing an initial 1.2 mln tonne a year processing plant, expanding to 1.5 mln tonnes pa as the operation moves into a steady production phase.

Recent assays contained lithium at grades between 1.2% and 1.7% at Sogola-Baoule and 1.04% at Boumou.

Assay results are pending for a further 2,732 samples with a mineral resource estimate update expected by the end of February.

Bernard Aylward, chief executive said the drilling at the end of last year had confirmed the continuity and robustness of the lithium mineralisation at Bougouni. 

“This gives us great confidence as we continue to fast track our development plans for the Project. 

“As such, we are in the process of completing a Mineral Resource estimate update that will include all drilling results to date as we look to confirm a long term mine life.   

"The opportunity highlighted by these continuing good results is that we are now able to assess our proposed operation parameters and factor in a larger mining operation with an initial 1.2Mtpa processing plant, expanding to 1.5Mtpa as the operation moves into steady production phase.”

Quick facts: Kodal Minerals PLC

Price: 0.0475 GBX

LSE:KOD
Market: LSE
Market Cap: £5.28 m
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Kodal Minerals reports feasibility study for Bougouni lithium project has...

Kodal Minerals PLC's (LON:KOD) Bernard Aylward speaks to Proactive London after announcing that its feasibility study for the Bougouni lithium project, in Mali, has been accepted by the country’s Ministry of Mines and Petroleum. Kodal now awaits formal issuance of the final licence...

on 29/5/20

2 min read