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Kodal extends known mineralisation at Bougouni

Mali-focused Kodal Minerals (AIM:KOD) has received assays from the first two diamond drill holes completed at the Sogola-Baoule and Boumou prospects at its Bougouni lithium project during the regional wet season.
Kodal extends known mineralisation at Bougouni Kodal extends known mineralisation at Bougouni Kodal extends known mineralisation at Bougouni Kodal extends known mineralisation at Bougouni Kodal extends known mineralisation at Bougouni

Kodal has intercepted further lithium mineralisation at the Sogola-Baoule and Boumou prospects of its Bougouni project

Staff reporter

The company said diamond core intersections at Sogola-Baoule confirmed the geological model and extended mineralisation, with high-grade assay results of up to 3.6% Li2O returned and multiple veins intersected at shallow depths.

The intersections included 30m at 1.51% Li2O from 56.08m and 5.50m at 1.59% Li2O from 96.48m in one hole; and 16m at 1.85% Li2O from 94.35m in another.

At Boumou, the drilling intersected multiple pegmatite veins confirming and extending known mineralisation in the the geological model.

Overall, it completed 12 core drill holes, five at Sogola-Baoule for 763.7m, and seven at Boumou for 1,044.5m.

CEO Bernard Aylward said the company had added definition to the geological interpretation and extended the areas of known mineralisation at Sogola-Baoule and Boumou despite an extensive West African wet season.

He said Kodal was aiming to restart diamond core drilling this week, reverse circulation drilling next week, and the company would maintain two rigs over the Christmas break.

Kodal is also continuing development and reviewing activities at the wider Bougouni project, including environmental assessment evaluations.

"Running in parallel to our drilling programme, we have been completing our wet-season environmental review including river ecology, local flora and fauna studies as well as water sampling and dust monitoring. This will be complemented by the dry-seasons studies and be used to finalise our environmental and social impact assessment submission to the Mali government," Aylward said.

He added the independent mineral resource geologist had also visited the site to complete a review of activities and support the potential future upgrading of Bougouni's mineral resource estimate.

Kodal's shares were down 6.35% Tuesday to 0.15p (US0.19c).