Kodal Minerals PLC Final drill hole returned from Ngoualana Prospect (9523L)
July 25 2017 - 2:01AM
UK Regulatory
TIDMKOD
RNS Number : 9523L
Kodal Minerals PLC
25 July 2017
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
Kodal Minerals plc / Index: AIM / Epic: KOD / Sector: Mining
25 July 2017
Kodal Minerals plc ('Kodal Minerals' or 'the Company')
Final RC drill hole returned from Ngoualana Prospect and Update
of Activities
Within Bougouni Lithium Project, Mali
Kodal Minerals plc, the mineral exploration and development
company focussed on West Africa, is pleased to announce the result
of the final reverse circulation ("RC") drill hole from the
'Ngoualana' prospect, located at the Company's Bougouni lithium
project in Southern Mali ("Bougouni" or the "Bougouni Project"). In
addition, the Company is pleased to provide a brief update of
on-going field and exploration activities.
Kodal completed the major RC drilling programme at the Bougouni
project in June 2017. The Company has released a series of market
updates as drilling results have been received and is now reporting
the final RC drill intersection results. The final assay results
have been received for drill hole KLRC055 which returned an
intersection of 7m at 1.52% Li(2) O from 79m depth*. This drill
hole is located at the eastern end of the Ngoualana prospect and
confirms the eastern extension and that the prospect remains open
along strike and at depth. Further drilling is planned and is
expected to re-commence after the end of the wet season in southern
Mali.
Th drill core from the five diamond drill holes at Ngoualana is
being processed, with core from the first holes submitted to the
laboratory for analysis and for the remaining holes being cut
onsite. In addition to the analysis for Li(2) O, samples are being
selected for additional metallurgical testing.
Kodal is maintaining its busy exploration programme, with work
at the Bougouni Project currently involving preparation for a
ground geophysical survey designed to test if the structures
hosting the mineralised pegmatite veins can be detected and
delineated to assist in future drill targeting.
In addition, the Company is continuing with the metallurgical
testing of the original samples sent to China to extend processing
through to the production of a battery grade Lithium Carbonate to
confirm the specifications of the product.
Kodal also advises that it is continuing to work with major
shareholder Suay Chin International Pte to ensure completion of its
investment in the Company and the off-take agreement.
*The intersection reported is based on a 1% Li2O lower-cut off,
with maximum 2m continued dilution. Only intersections greater than
5m are reported. Drilling was RC, completed by West African
drilling contractors Geodrill Limited. Assays are of 1m riffle
split samples. Analysis was completed by SGS laboratories, with
preparation in Bamako, Mali, and final analysis at Vancouver,
Canada.
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, AIM Nominated
Adviser Tel: 020 3328
Jeremy Porter/Nick Harriss 5656
SP Angel Corporate Finance LLP,
Financial Adviser & Broker Tel: 020 3470
John Mackay 0470
St Brides Partners Ltd, Financial
PR Tel: 020 7236
Susie Geliher/Lottie Brocklehurst/Megan 1177
Dennison
This information is provided by RNS
The company news service from the London Stock Exchange
END
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