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Kodal Minerals' high-grade drill results extends the length of Mali lithium project

"The Sogola-Baoule prospect is continuing to grow in our ranking and we are expecting to receive further mineralised intersections over the next few weeks," said Bernard Aylward, Kodal chief executive

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Lithium is an important component for batteries that power the new generation of electric cars

Kodal Minerals PLC(LON:KOD) said its Sogola-Baoule lithium prospect in Mali now extends beyond 1.4 kilometres following the latest high-grade drilling results.

The highlights from the 19 follow-up and extension holes included a 22-metre section from 110 metres below surface grading 1.58% lithium oxide. 

The grades of the battery material ranged from 1.19% to 1.76% across intercepts of 13-20 metres from depths of 34-123 metres.

Further intersections expected

"The Sogola-Baoule prospect is continuing to grow in our ranking and we are expecting to receive further mineralised intersections over the next few weeks," said Bernard AylwardKodal chief executive.   

"The development of this prospect demonstrates the positive results of our exploration approach and at the end of a very busy drilling season, we now have three advanced prospects at NgoualanaSogola-Baoule and Boumou."   

Kodal said these prospects will form the basis of its initial project assessment as it considers the possibility of developing a mining hub at Bougouni.  

In addition, the company has undertaken exploration drilling at Bougouni South and regional testing at Ngoualana that continue to develop its pipeline of exploration targets to further grow our project.

"We expect this strong news flow to continue during the next quarter with results returning from our completed drilling and from the metallurgical testing and bulk sampling that has been happening in parallel as we look to fast track Bougouni towards a decision to mine in the near term," CEO Aylward added.

 

Quick facts: Kodal Minerals PLC

Price: 0.067 GBX

LSE:KOD
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Market Cap: £7.68 m
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