Kodal drops despite positive results from lithium drilling

Kodal Minerals

0.35p

15:29 15/11/24

-0.47%

0.00p

West Africa-focused explorer Kodal Minerals has completed a major reverse circulation drilling programme at the Bougoni lithium project in southern Mali.

Mining

10,633.77

15:45 15/11/24

1.51%

158.40

Completed in June, the RC programme reported assay results for drill hole KLRC055 at an intersection of 7m at 1.52% Li2O from 79m depth.

Previous drillings at the prospect had shown higher grades, with the lowest from its previous efforts being 1.54% Li2O and highest being 1.80% Li2O.

The drill hole, located at the eastern end of the Ngoualana prospect, confirms further opportunities along the eastern expansion, with drilling set to continue at the end of the wet season in southern Mali.

Processing has begun on the core from the five diamond drill holes at Ngoualana, with samples being selected for additional metallurgical testing.

Ground geophysical surveys, designed to test if the structures hosting the mineralised pegmatite veins can be detected and delineated are underway to aide in future drill targeting.

As of BST 0900 shares were down 10.14% to 0.31p