Kodal upbeat on Bougouni assay results

The AIM-traded firm said high-grade mineralisation had been returned for the Sogola-Baoule prospect, where mineralisation remained open along strike.

Additionally, the company is updated the market on exploration drilling at the Boumou, South Bougouni and Ngoualana prospects, at which new lithium mineralised zones had been identified.

It said Sogola-Baoule mineralisation continued to extend to north-east, and had increased in thickness.

Mineralised intersections were said to be within broader mineralised zones up to 53m in downhole width.

Exploration drilling at the Boumou, South Bougouni and Ngoualana prospects, meanwhile, had identified new zones of lithium mineralisation within the project area.

All final assay results had been incorporated into the company database, the board said, and were being incorporated in the mineral resource estimate work that was progressing ahead of expected finalisation and release in September.

“The continued wide, high-grade intersections at the Sogola-Baoule prospect are very encouraging and highlight the potential of this prospect to be our main target area within the Bougouni project,” said chief executive officer Bernard Aylward.

“We will be returning to this prospect in August to undertake diamond drilling to target geological information from infill drilling and further advance the prospect with extensional drilling.”

Aylward said the firm was also “very pleased” that its exploration drill testing of new target areas continued to return “encouraging” mineralised intersections.

“Our focus during this drilling campaign has been on the Ngoualana, Sogola-Baoule and Boumou prospects to underpin a maiden resource estimate which we are targeting to release in September.

“However, we are also continuing to demonstrate further potential across our licence area and as a result there is significant scope to build on the initial resource estimate going forward.”