Kodal Minerals PLC (LON:KOD) said a mining licence application for its flagship Bougouni lithium project in Mali is advancing and also provided an update on the exploration programme for its Ivory Coast gold assets.
Kodal confirmed it has completed all requested changes for filing an updated feasibility report for Bougouni and that it will file this update with the Direction Nationale de la Geologie et des Mines (DNGM) in Mali imminently.
The next stage in the process is for the DNGM to send Kodal a confirmation letter formally requesting payment of the application fee for the mining licence prior to the formal production of the mining licence for approval by the prime minister.
Elsewhere, the exploration and development company said it has secured two drill rigs for the Nielle project in northern Ivory Coast. A 5,000-metre drilling programme will start within the week, targeting the strike extensions of the gold mineralised zone and test for parallel zones defined by Resolute Mining Ltd.
Infill geochemical sampling has also started at the Dabakala project in the Ivory Coast with sampling targeting the high-grade gold anomalism up to 6.14 grammes a tonne.
“We are very excited with the exploration programmes on our gold projects in Cote d'Ivoire,” said chief executive Bernard Aylward.
“The Dabakala project is at an early stage, however, the extensive surface gold anomalism and repeated high grade gold mineralisation give confidence to continue with exploration here. This is a new gold zone defined in Cote d'Ivoire and offers the company the opportunity to make a significant gold discovery.
“In addition, the drilling programmes planned for the Nielle project are expected to add definition to the gold mineralisation outlined by our former JV partner, Resolute.
“We expect a busy time over the next few months as these projects develop, as well as commencing ground exploration on our advanced Fatou project in southern Mali,” said Aylward.