Kodal Minerals upbeat on latest drilling results from Mali

Mineral exploration and development company Kodal Minerals reported the final set of assay results for the diamond drilling completed at its 450 square kilometre Bougouni Lithium Project in Southern Mali on Friday.

The AIM-traded firm said the announcement related to drilling completed in November and December, and reported four diamond drill holes from the Sogola-Baoule and Ngoualana prospects, and seven reverse circulation (RC) drill results from the Sogola-Baoule and Boumou prospects.

It said final assay results from further RC drill holes were expected in the coming weeks.

Kodal said diamond drill holes at the Sogola-Baoule and Ngoualana prospects continued to return high-grade mineralisation confirming geological interpretation.

Highlights included 9.0m at 1.27% Li2O from 36.65m, 10.5m at 1.23% Li2O from 50.15m, and 11.5m at 1.76% Li2O from 88.2m in drill hole MDDH009, as well as 14.5m at 1.74% Li2O from 113.85m in drill hole KLDH015.

It also said RC drilling at the Sogola-Baoule and Boumou prospect continued to define and extend mineralisation.

Multiple mineralised intersections included 28m at 1.33% Li2O from 76m in drill hole MDRC122, 10m at 1.25% Li2O from 105m in drill hole KLRC143, and 11m at 1.32% Li2O from 114m in drill hole KLRC145.

The board confirmed that final assay results were expected within the next fortnight, with RC drill holes remaining for Sogola-Baoule and Boumou to report.

Its mineral resource estimate remained on schedule for announcement by the end of February.

“These drilling results reported today again highlight the continuity of mineralisation and confirm the geological model at all three of our advanced prospects that formed the basis of our maiden mineral resource estimate of 17.3Mt at 1.20% Li2O announced on 5 September,” said Kodal Minerals chief executive officer Bernard Aylward.

“Indeed, the main aim of the drilling programme, completed in November and December, was to continue to expand the defined mineralisation and also importantly provide confidence in our models as we look to update our JORC Mineral Resource estimate and the classification in the indicated and inferred categories.”

Aylward said the results and updated mineral resource estimate were important components of Kodal’s development programme.

“Our project manager Steve Zaninovich is on site at Bougouni this week continuing to work with our geological team as well as conducting site visits for engineering contractors to review the scope of work required for potential site infrastructure.”