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Kodal Minerals Plc
Summary
| Project: | Bougouni | |
|---|---|---|
| Deposit: | Bougouni | |
| Location: | Mali | |
| Commodities: | Lithium | |
| Date: | 9/5/2018 | |
| Report Code: | (no Code) | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-9-2018: Kodal Minerals Plc announces a Resource Estimation report for its Bougouni deposit at the Bougouni project. Initial mineral resource estimate for Bougouni. Kodal Minerals, the mineral exploration and development company focussed on the explorati | |
| Resources: | (Resource, Inf.): 13.7Mt @ 1.16% Li2O for 159.7Kt Li2O contained | |
| CP/QP: | [Resources]: Matthew Cobb (CSA Global Pty Ltd.) | |
| ABSTRACT: | Kodal Minerals, the mineral exploration and development company focussed on the exploration and development of its Bougouni Lithium Project in Southern Mali, West Africa (“Bougouni” or the “Project”), is pleased to announce the maiden Mineral Resource estimate, preliminary open pit optimisation studies and mineral processing review for the development of the Bougouni Project. Highlights • Maiden Mineral Resource of 17.3Mt at 1.20% Li2O in the Inferred category. • The Maiden Mineral Resource is made up of Kodal’s three most advanced prospects: o Sogola-Baoule: 10.4Mt at 1.18% Li2O; o Ngoualana: 4.7Mt at 1.34% Li2O; o Boumou: 2.2Mt at 1.01% Li2O (Mineral Resource reported using a 0.5% Li2O lower cut-off, no top cut-off and is based on the wireframe interpretation of mineralised pegmatites) • Preliminary open pit optimisations have been undertaken to identify key areas for further drill testing and definition of the pegmatite hosted mineralisation. • Mineralisation captured within these conceptual open pits totals 13.2Mt at 1.2% Li2O. This is not an Ore Reserve estimate, however it highlights areas where the optimised shells are resource constrained and these areas will be the focus for future drilling campaigns. • Separately from the Mineral Resource and optimisation study, Kodal has commissioned a Processing Review by independent engineering consultants, Wave International, based on the ongoing metallurgical testwork for the Bougouni mineralisation. This is considered an order of magnitude study. • This review indicates a capital cost of AUD$14M for a 1Mtpa dense media separation plant component. A full plant will require a crushing circuit and additional materials handling components. • The processing review further indicates a potential production cost of US$400 per tonne of spodumene concentrate which compares to a current market selling price of between US$800 and US$900 per tonne. • Exploration and definition drilling for resource expansion and continued testing of new target areas is underway. | |
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