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Kodal Minerals Plc
Summary
| Project: | Bougouni | |
|---|---|---|
| Deposit: | Bougouni | |
| Location: | Mali | |
| Commodities: | Lithium | |
| Date: | 2/28/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-2-2019: Kodal Minerals Plc announces a Resource Estimation report for its Bougouni deposit at the Bougouni project. Updated mineral resource estimate at project. Kodal Minerals, the mineral exploration and development company focused on the Bougouni Li | |
| Resources: | (Resource, I+I): 21.3Mt @ 1.11% Li2O at project | |
| CP/QP: | [Resources]: Dr Matthew Cobb (CSA Global Pty Ltd.) | |
| ABSTRACT: | Kodal Minerals, the mineral exploration and development company focused on the Bougouni Lithium Project in Southern Mali ("Bougouni"), is pleased to announce an updated JORC Mineral Resource estimate for the Company's 450km2 Bougouni Project. This update incorporates the results of all definition and extension drilling completed in the October to December 2018 drilling campaign and, importantly, has allowed the Company to classify a major portion of the Minerals Resource estimate as Indicated Resource. The drilling focused solely on the three prospects with existing resources, and in all cases has increased the Mineral Resource demonstrating the expansion potential at each prospect. Bernard Aylward, CEO of Kodal Minerals, said: "The significance of this updated and increased Mineral Resource estimate lies in the fact that it enabled us to classify a large portion of the Mineral Resource estimate as an Indicated Resource - this is fundamental for our ongoing mine development study. The drilling recently completed was focused on defining and extending the known resources utilising the important target areas contained within the previously optimised open pit mining shells. The initial review of this updated Mineral Resource highlights that the increases in the resource are contained within the previous optimised shells, that the interpretation now has been strengthened and that the areas of very wide pegmatite hosted mineralisation have been clearly defined. These updated Mineral Resource models will now be used to complete our mine development studies. The first step is underway starting with a new open pit optimisation review that will lead into the planning of the processing plant and production schedule. "The development programme at Bougouni is progressing with the ESIA well advanced and engineering review studies commissioned. The Company has continued to meet with Mali Government officials to keep them informed of our progress and our intentions to move to lodge our ESIA when complete, followed by our mining licence application when the study work is finalised." | |
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