TIDMKOD
RNS Number : 1357R
Kodal Minerals PLC
07 December 2016
Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining
7 December 2016
Kodal Minerals Plc
('Kodal' or 'the Company')
High-Grade Rock Chip Samples Returned at Malian Lithium
Projects
Kodal Minerals, the mineral exploration and development company
focussed on West Africa, is pleased to announce high grade rock
chip results from the first dispatch of samples from the
reconnaissance rock chip sampling at its lithium interests in
Southern Mali.
Highlights
-- First rock-chip assay results confirm high-grade lithium
mineralisation at the Bougouni lithium project ("Bougouni").
-- Assay results up to 2.04% Li(2) O returned for sampling at
the Sogola pegmatite vein located within Bougouni.
-- New areas of high-grade lithium mineralisation identified
within Bougouni with assay results up 1.9% Li(2) O and 1.65% Li(2)
O.
-- An additional 44 rock-chip samples are pending analysis from
the ongoing geological reconnaissance at Bougouni.
-- Reverse Circulation ("RC") drilling continuing at Bougouni
with programme expected to be completed in mid-December 2016.
-- RC drilling targeting the Bougouni's Sogola, Ngoualana and
Kola veins initially, with further geological exploration to
develop the new high-grade targets for drilling.
-- Initial results from the Diendio lithium project ("Diendio")
confirm presence of lithium mineralisation, maximum result of 0.03%
Li(2) O returned from limited sampling.
Bernard Aylward, CEO of Kodal Minerals, said: "These initial
rock-chip results confirm the presence of high-grade lithium
mineralisation at Bougouni and reinforced our confidence in the
prospectivity and potential strategic value of this asset. Kodal
has acquired a significant landholding in this region and our
exploration activity is continuing to highlight multiple targets
and areas of high-grade lithium mineralisation.
Exploration is continuing at Bougouni with the first RC drilling
programme underway targeting three of our high-grade pegmatite
veins. This drilling is expected to be completed in mid-December
2016 and will provide vital information on the depth and continuity
of the pegmatite bodies as well as provide reliable samples for
analysis of the grade of the mineralisation.
Kodal will continue to rapidly explore and advance both Bougouni
and the newly acquired Diendio, with on-going geological mapping,
sampling and additional drilling planned."
Further Information
Geological Reconnaissance and Rock Chip Sampling Programme
The Company is undertaking a systematic geological
reconnaissance and rock-chip sampling programme at Bougouni and the
recently acquired Diendio.
A total of 85 samples are reported in this first batch, which
includes 14 samples from Diendio Sud (12 sample locations and 2
QAQC duplicate samples) and 71 samples from Bougouni (66 sample
locations and 5 QAQC duplicate samples). The assay range for the
samples varies from a minimum of below detection limit (0.005% Li)
to a maximum result of 2.04% Li(2) O. Samples are reported at Li%
and converted to Li(2) O% by multiplication of a factor of
2.153.
Samples were analysed by ALS Laboratories, with sample receipt
at ALS Bamako Mali, sample preparation at ALS Ouagoudougou, Burkina
Faso with final analysis completed at ALS Vancouver, Canada.
Samples analysis was completed with a four acid digest and final
detection by ICP-AES method.
An additional 44 rock-chip samples are pending final
analysis.
Bougouni Project
Bougouni consists of two concessions, the Kolassokoro and Madina
concessions, which cover a contiguous area of 500km(2) . The
project area is located approximately 180km south of Bamako, the
capital of Mali, with excellent access to the project via sealed
road from Bamako. Kodal has recently entered into Option to
Purchase and Access agreements that grant Kodal exclusive rights to
explore and develop any identified mineralisation within the
project area. Details of the agreements have previously been
announced to the market.
The rock chip sampling results at Bougouni confirm the
high-grade surface mineralisation at the Sogola vein, and
potentially indicate extensions and parallel zones to this system.
The maximum result of 2.04% Li(2) O was returned for sampling at
Sogola. The RC drilling is currently underway at Bougouni with this
initial round of drilling focussing on the Sogola, Ngoualana and
Kola pegmatite veins.
In addition to confirming the Sogola mineralisation, this
geological reconnaissance and rock chip sampling programme has
identified new zones of pegmatite hosted lithium mineralisation
with initial assays including 1.9% Li(2) O and 1.65% Li(2) O within
Bougouni. In total this first sample batch returned 10 samples
greater than 1% Li(2) O at Bougouni and these areas are being
reviewed to determine potential for future exploration and
drilling.
Diendio Project
The 109km(2) Diendio Project is located approximately 230km
south of Bamako. Access to the project is by sealed road from
Bamako to the city of Bougouni, then good dirt road to Diendio with
good access throughout the concession area by local road and
track.
Geological reconnaissance and sampling is at an early stage at
Diendio. The first 14 samples collected confirmed presence of
lithium mineralisation, however it is low grade in the limited
initial samples, with a maximum of 0.03% Li(2) O returned.
Geological reconnaissance completed has highlighted the limited
outcrop and generally flat and soil-covered terrain of Diendio. The
limited outcrops of pegmatite contain lithium bearing minerals
(spodumene principally) and additional sampling and trenching is
required to evaluate these pegmatites.
Geological reconnaissance and sampling of Diendio is on-going in
conjunction with the field work at Bougouni.
The exploration results and activity reported in this
announcement have been reviewed by Mr Bernard Aylward who is a
Member of the Australasian Institute of Mining and Metallurgy. Mr
Aylward has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity being undertaken to qualify as a Qualified Person as
defined in the AIM Note for Mining and Oil & Gas Companies
dated June 2009. Mr Aylward consents to the inclusion in this
announcement of the matters based on his information in the form
and context in which it appears.
**ENDS**
For further information, please visit www.kodalminerals.com or
contact the following:
Kodal Minerals plc
Bernard Aylward, CEO Tel: +61 418
943 345
----------------------------------------- ----------------
Allenby Capital Limited, Nominated
Adviser Tel: 020 3328
Jeremy Porter/Nick Harriss 5656
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SP Angel Corporate Finance LLP,
Financial Adviser & Broker Tel: 020 3470
John Mackay/Laura Harrison 0470
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St Brides Partners Ltd, Financial
PR Tel: 020 7236
Susie Geliher/Lottie Brocklehurst/Megan 1177
Dennison
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This information is provided by RNS
The company news service from the London Stock Exchange
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