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Kodal Minerals PLC

Kodal completes drilling at Bougouni, now within an ace of producing resource update

The drill results will be incorporated into the new JORC resource

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Lithium is used in batteries for electric vehicles

Kodal Minerals PLC (LON:KOD) shares rose on Tuesday after it said it has received the final assay results from drilling completed at the Bougouni lithium project in Southern Mali.

Highlights from the Sogola-Baoule prospect on Bougouni include 31 metres at 1.33% lithium oxide (Li2O), 27 metres at 1.06% Li2O, and 30 metres at 1.06% Li2O.

WATCH: Kodal Minerals acquires further prospective ground near Bougouni project in Mali

Highlights from the Boumou prospect include 11 metres at 1.32% Li2O and 11 metres at 1.03% Li2O.

Following on from this drilling, a mineral resource estimate remains on schedule for the end of February 2019.

"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 mineralisation at the Sogola-Baoule and Boumou prospects,” said chief executive Bernard Aylward.

“These results will be incorporated into the geological and mineralisation 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.”

In afternoon trading, Kodal Minerals were 9.5% higher at 0.18p.

 -- Adds share price --

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Market Cap: £6.3 m
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Kodal Minerals focused on rapid development of flagship lithium project

Bernard Aylward, chief executive of Kodal Minerals PLC(LON:KOD), introduces the company and its flagship asset in Mali to Proactive's Andrew Scott. Aylward says their focus on the rapid exploration and development of the Bougouni lithium project puts them in a very strong position to take...

on 25/7/18

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