Kodal Minerals acquires Fatou gold project in southern Mali

Thu, 17th Dec 2020

Mineral exploration and development company Kodal Minerals said it had acquired the Fatou gold project in southern Mali. Fatou already had a historical compliant resource of over 350,000 ounces, which was expected to increase based on a funded 9-month drilling programme, the company said. Kodal Minerals said it had received a subsidiary-level project funding proposal from AIM-quoted Riverfort Global Opportunities and Riverfort Global Opportunities to provide up to US$2.5 million to fund part of the acquisition, implement a major exploration campaign at Fatou and fund exploration at the company's additional gold projects in Mali and the Ivory Coast. The company said it was targeting reconnaissance aircore drilling at its Dabaklala project in the Ivory Coast in the 2021 field season.'The geochemical sampling is expected to be complete by the end of December, with assay results anticipated in late January 2021,' it added. In Mali, meanwhile, Kodal had conducted field reconnaissance at the Nangalasso project and planned an aircore drilling programme to follow-up previous gold mineralised drill intersections in the 2021 field season. At 8:58am: (LON:KOD) Kodal Minerals share price was 0p at 0.07p Story provided by StockMarketWire.com

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