22nd Aug 2018 10:47
LONDON (Alliance News) - Kodal Minerals PLC has found further mineralisation at Mali's Bougouni lithium project with all assay results now received, the company said Wednesday.
The latest results, from the Sogola-Baoule prospect at Bougouni, show intersections including 32 metres at 1.6% lithium oxide, 26 metres at 1.4% lithium oxide, and 21 metres at 1.6% lithium oxide.
These intersections, Kodal said, are within broader zones of mineralisation.
Elsewhere, at the Boumou, South Bougouni, and Ngoualana prospects, new lithium intersections include 15 metres at 1.1% lithium oxide at South Bougouni, 6 metres at 1.4% lithium oxide at Boumou, and 5 metres at 1.6% lithium oxide at Ngoualana South.
Kodal now has all assays from the drilling programme, and these are now being used for mineral resource estimate work which should be finished and released in September.
Chief Executive Bernard Aylward said: "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.
"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 added: "We are also very pleased our exploration drill testing of new target areas continues 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," he continued.
Kodal shares were 1.8% higher Wednesday at 0.25 pence each.
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