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Kodal Minerals PLC - Update on Republic of Mali Government

RNS Number : 5621B
Kodal Minerals PLC
08 October 2020
 

 

Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

8 October 2020

Kodal Minerals plc ('Kodal Minerals' or the 'Company')

 

Update on Republic of Mali Government

 

Kodal Minerals, the mineral exploration and development company focused on its Bougouni Lithium Project ("Bougouni Project") in southern Mali, provides this update on the recent appointment of a transitional government in the Republic of Mali and the subsequent lifting of sanctions imposed by ECOWAS (Economic Community of West African States), further to the Company's announcement on 19 August 2020.

 

The transition government is led by President Bah Ndaw and Prime Minister Moctar Ouane, supported by a full Ministry including a new Minister for Mines, Energy and Water, M. Lamine Seydou Traore.  This interim government is expected to lead the country as it looks to undertake new elections which are expected in 18 months' time.

 

Kodal welcomes the appointment of the interim Government and looks forward to working with the Government and progressing the Mining Licence application for the Bougouni Project and moving into a development phase for the project.

 

 

**ENDS**

 

For further information, please visit www.kodalminerals.com or contact the following:

 

Kodal Minerals plc

Bernard Aylward, CEO

 

Tel: +61 418 943 345

 

Allenby Capital Limited, Nominated Adviser

Jeremy Porter/Nick Harriss

 

 

Tel: 020 3328 5656

SP Angel Corporate Finance LLP, Financial Adviser & Broker

John Mackay

 

 

Tel: 020 3470 0470

St Brides Partners Ltd, Financial PR

Susie Geliher/Cosima Akerman

 

 

Tel: 020 7236 1177

 

 

 

About Kodal Minerals

 

Kodal Minerals' primary focus is on the rapid advancement towards production of its flagship Bougouni Lithium Project in Southern Mali.  The JORC Resource Estimate places the Bougouni Project in the top 15 hard rock lithium projects globally and was calculated using only three of the eight currently recognised prospects demonstrating the significant exploration upside potential remaining across the 450km2 project area.  The Mineral Resource estimate for the Ngoualana, Sogola-Baoule and Boumou prospects are tabulated below.  These mineral resources are reported in accordance with the JORC Code:

 

Prospect

Indicated

Inferred

Total

Tonnes

(Mt)

Li2O%

Grade

Contained Li2O

 (kt)

Tonnes

(Mt)

Li2O%

Grade

Contained Li2O

 (kt)

Tonnes

(Mt)

Li2O%

Grade

Contained Li2O

 (kt)

Sogola_Baoule

8.4

1.09

91.9

3.8

1.13

42.8

12.2

1.10

134.8

Ngoualana

3.1

1.25

39.2

2.0

1.12

22.1

5.1

1.20

61.3

Boumou




4.0

1.02

40.4

4.0

1.02

40.4

TOTAL

11.6

1.13

131.2

9.7

1.08

105.3

21.3

1.11

236.5

 

Notes:  Mineral resources are reported using a 0.5%Li2O cut-off.  Figures may not sum due to rounding.  The contained metal is determined by the estimated tonnage and grade.

 

The Bougouni Project and recently acquired 200km2 Bougouni West project are located in an emerging lithium province that is already attracting the attention of investors and off-take partners interested in securing a long-term supply of lithium.  With the support of its strategic investor and off-take partner Suay Chin International Pte, a Singapore-based lithium and chemical trader, Kodal Minerals is well positioned to continue its ambitious development programme at Bougouni.

 

Further to this, Kodal Minerals is the manager of additional lithium and gold projects that are undergoing low cost exploration programmes in addition to JV funded gold properties in Cote d'Ivoire that offer potentially significant long-term value.

 

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