Mineral exploration and development company, Kodal Minerals (LON:KOD), has announced its final assay results for the drilling completed at its Bougouni Lithium Project.
The Bougouni Lithium Project is based in Southern Mali. Kodal Minerals’ primary focus is on the development of this project, advancing it towards production. The recently completed Maiden JORC Resource Estimate placed the Bougouni Lithium Project in the top 15 hard rock lithium projects globally.
CEO of Kodal Minerals, Bernard Aylward, commented on the announcement:
“The final assay results for the Bougouni drilling programme, completed in November and December 2018, reported today highlight the excellent continuity and width of the pegmatite mineralization at the Sogola-Baoule and Boumou prospects. These results will be incorporated into the geological and mineralization model that will update our JORC Mineral Resource.”
“Kodal is continuing the fast track development of the Bougouni lithium project and has recently met with both the Mali Minister of Mines and delegation to provide an update on the Project. The first step is to complete the update of the JORC Mineral Resource as this will be utilized for the future mine design and scheduling. The Company is also finalizing the metallurgical testwork and the engineering design of the proposed processing plant.”
Highlights from the Sogola-Baoule prospect on Bougouni includes an intersection of up to 31 meters at 1.33% lithium oxide, 27 meters at 1.06% and 30 meters at 1.06%.
Highlights from the Boumou prospect includes 11 meters at 1.32% lithium oxide and 11 meters at 1.03%.
Mineral resource estimate remains on schedule for announcement by the end of February 2019, the company said.
In January, the lithium mining firm confirmed a new deal that gives exclusive rights to expand its operation at a lithium mining opportunity in Mali. Kodal said that the new project would be close to the existing Bougouni Project.
At 10:19 GMT on Tuesday, shares in Kodal Minerals plc (LON:KOD) were trading at +2.84%.