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Kodal Minerals Plc
Summary
| Project: | Bougouni | |
|---|---|---|
| Deposit: | Sogola-Baoule, Boumou | |
| Location: | Mali | |
| Commodities: | Lithium | |
| Date: | 4/26/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-4-2017: Kodal Minerals Plc announces an Exploration/Drilling Update report for its Sogola-Baoule, Boumou deposit at the Bougouni project. Drilling results incl. 11m @ 1.65% Li2O from 131.00m. Kodal Minerals plc, the mineral exploration and development | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bernard Aylward (Internal) | |
| ABSTRACT: | Kodal Minerals plc, the mineral exploration and development company focussed on West Africa, is pleased to announce that initial assay results have been returned from the exploration drilling programme currently underway at the Company's Bougouni Lithium Project in Southern Mali ("Bougouni" or the "Project"). The initial results are from the first-pass drilling at new prospects "Sogola-Baoule" and "Boumou" and confirm high-grade lithium mineralisation within the pegmatite intersections. Bernard Aylward, CEO of Kodal Minerals, said: "These initial drilling results from the Boumou and Sogola-Baoule prospects are very exciting as they demonstrate the potential to define additional zones of high grade mineralisation which will complement the excellent grades and width of mineralisation previously intersected at the Ngoualana prospect. We are now starting to identify the key areas for follow-up and definition drilling that will underpin the future development of the Bougouni Lithium project. We are expecting to continue drilling for an extended period. "Meanwhile, the current phase of drilling at the Ngouanala prospect is nearing completion with significant strike extensions confirmed and depth potential highlighted. Samples have been dispatched to the laboratory at regular intervals. As previously stated, the drilling at Ngouanala was planned to provide sufficient data to confirm mineralisation and define strike and depth extensions as well as highlight areas of high-grade mineralisation for future drill definition. "Finally, we are progressing the investment agreement with our new strategic investor and off-take partner, Suay Chin, which could result in Suay Chin increasing its holding in the Company to 20%. The completion of the second stage placement will provide the Company with sufficient finance to expand the exploration and definition work at Bougouni and rapidly advance the Project." | |
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