EXPLORATION & DEVELOPMENT

Kodal intersects further lithium mineralisation at Bougouni

Kodal Minerals (AIM:KOD) has intersected further lithium mineralisation at its Bougouni lithium project in southern Mali.

Staff reporter
Kodal has intercepted further lithium mineralisation at its Bougouni project

Kodal has intercepted further lithium mineralisation at its Bougouni project

At the project's Sogola-Baoule prospect, mineralisation continued to extend to the northeast, with intersections from a further seven drill holes including 10m at 1.02% Li2O from 114m; 14m at 1.66% Li2O from 127m; and 15m at 1.49% Li2O from 41m.

It is still waiting for the results of the remaining 15 drill holes completed.

At the Boumou prospect, multiple mineralised pegmatite intersections were returned, including 19m at 1.40% Li2O from 69m; 11m at 1.58% Li2O from 39m; 11m at 1.55% Li2O from 41m; and 15m at 1.46% Li2O from 45m.

Kodal said mineralisation at Boumou had defined over a 400m strike length in northern zone of prospect.

The company is awaiting a further 3,100 assay results to be returned from the lab, with additional results expected for the Bougouni South, Ngoualana and Sogola-Baoule prospects.

Kodal CEO Bernard Aylward said the assay results were confirming the company's geological interpretation and were positive for the economic potential of the area.

"The Sogola-Baoule prospect continues to return strong mineralisation, and the strike length of 1,400m is very encouraging for significant mineralisation to be defined here. This field season has allowed us to complete a large amount of drilling, with a focus on the Ngoualana, Sogola-Baoule and Boumou prospect to support our resource estimates," he said.

Aylward said Kodal was pushing for a rapid development of Bougouni and was planning diamond drilling in August at the Sogola-Baoule prospect to gain further metallurgical samples and continue definition of the prospect. 

At the same time, it would be undertaking the project's maiden resource estimate and conducting preliminary mining optimisation studies. 

Kodal's shares were up 1% Monday morning to 0.13p (US0.17c).

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.