Kodal Minerals reports further high-grade results from Bougouni

The AIM-traded firm said the Sogola-Baoule prospect, focussed on infill and extension drilling of the defined mineralisation, continued to high grade mineralisation, with highlights including 18.5 metres at 1.52% lithium oxide from 99.3 metres in drill hole MDDH007, and 14 metres at 1.43% lithium oxide from 142.5 metres in drill hole MDDH008.

It also highlighted 26 metres at 1.24% lithium oxide from 73 metres in drill hole MDRC115B, including 13 metres at 1.70% lithium oxide from 86 metres, as well as 21 metres at 1.58% lithium oxide from 108 metres in drill hole MDRC117.

Kodal said the Boumou prospect final diamond drill holes also intersected multiple mineralised pegmatite veins, including 7.5 metres at 1.04% lithium oxide from 130.3 metres, and 9.5 metres at 1.04% lithium oxide from 142.8 metres in drill hole KLDH006.

The board said the Bougouni Project's geological model was confirmed by the drilling results, with an update of interpretation currently in progress.

Assay results were pending for a further 2,732 samples currently in process of analysis, with a mineral resource estimate update expected by the end of February.

“The drilling programme completed last year at the Sogola-Baoule and Boumou prospects has confirmed the continuity and robustness of the lithium mineralisation at Bougouni,” said Kodal Minerals chief executive officer Bernard Aylward.

“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.”

Aylward said that was on track for delivery at the end of February.

“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.

“With this in mind, we are continuing to map out a development programme and will be looking to provide an update to the market on our recent activity and engagement of specialised engineering contractors to work with Kodal and support this development schedule in due course.”