30th Dec 2016 08:02
LONDON (Alliance News) - Kodal Minerals PLC on Friday said the final 44 rock-chip samples collected from the Bougouni project in southern Mali have confirmed further high-grade lithium mineralisation at the site.
Assay results from the sampling showed grades of up to 2.03% lithium oxide at a newly-identified pegmatite vein located to the south of the Bougouni concession area.
Rock-chip sampling confirmed high-grade lithium mineralisation at the Ngoualana prospect with assays up to 1.9% lithium oxide.
Kodal added that the first pass reverse circulation drilling programme targeting three priority areas at Bougouni has been completed, with a total of 18 drill holes at the Sogola, Ngoualana and Kola veins.
All samples for the drilling have been submitted for laboratory analysis and results are expected by the end of January 2017.
"Our ongoing geological mapping and rock-chip sampling programme is continuing to return high-grade lithium samples and is defining new target zones. These results from our ongoing exploration programme highlight the prospectivity and value of our Bougouni project," Chief Executive Bernard Aylward said in a statement.
Shares in Kodal were up 18% at 0.148 pence Friday morning, shortly after market open.
By Karolina Kaminska; [email protected]; @KarolinaAllNews
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