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Kodal Minerals drill programmes unearth pegmatite at Bougouni lithium project

"This is early stage exploration and we are waiting for assay results, however we are encouraged by the initial pegmatite intersections and we expect to continue drilling when results are received," said Bernard Aylward.

lithium represented on periodic table
Assay results are pending

Kodal Minerals PLC (LON:KOD) has provided an update of its drilling programme at the Bougouni lithium project in southern Mali, where holes have encountered pegmatite mineralisation in key targets.

The exploration programme has focussed on the Marigo prospect and the Mafele concession.

At Marigo, it is reconnaissance work with wide spaced holes aimed at unearthing a deposit. So far four holes have targeted outcropping pegmatite veins and the company has intersected at a maximum of 22 metres from a shallow depth.

READ: Kodal Minerals beginning to get a real handle on Bougouni potential

Drilling at Marigo has tested a strike length of more than 300 metres and mapping indicates that pegmatites continue to the east and west.

Operations at Mafele, meanwhile, aim to test drill targets identified previously in geological mapping and geophysical surveys. Six holes have been drilled at Mafele so far and drilling continues.

Results are pending for both Marigo and Mafele.

"This update highlights our exploration programme that continues to test our highly prospective landholding while our main focus and priority is the completion of our ESIA and project development work,” said Bernard Aylward, Kodal chief executive.

“These drill holes at Marigo and Mafele highlight the potential for further pegmatite hosted mineralisation to be defined, however this is early stage work and we are reporting initial geological interpretation as we wait for assay results to be returned.”

Aylward added: "The reconnaissance drilling at our Mafele concession is the maiden drill programme undertaken on this new concession and the targets have been identified by our geological mapping and geophysical surveys. 

“This initial drilling programme has been planned to test a wide range of geophysical and geological targets and our geologists are reporting that the initial drill holes confirm pegmatite veins beneath the transported cover. 

“Once again, this is early stage exploration and we are waiting for assay results, however we are encouraged by the initial pegmatite intersections and we expect to continue drilling when results are received."

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Price: 0.0499 GBX

Market: LSE
Market Cap: £4.61 m

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