Kodal Minerals PLC ESIA and Bulk Sample Update (1366U)
November 21 2019 - 2:01AM
UK Regulatory
TIDMKOD
RNS Number : 1366U
Kodal Minerals PLC
21 November 2019
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
21 November 2019
Kodal Minerals plc ('Kodal Minerals' or the 'Company')
ESIA and Bulk Sample Update
Kodal Minerals, the mineral exploration and development company
focused on its Bougouni Lithium Project in southern Mali, is
pleased to provide a further update on its Environmental and Social
Impact Assessment ('ESIA') application and the previously announced
transport of the bulk sample of lithium ore for test processing in
China.
The Company confirms the ESIA application has been reviewed by
Mali ministerial advisors and has been sent to the office of the
Ministre de l'Environnement, du l'Assainissement et du
Développement Durable ('Environment Minister') and is pending final
signature and approval. This process is expected to be completed
shortly and the Company will provide updates as further news is
received.
Further to the announcement of 18 September 2019, the Company
further confirms that the bulk sample, having been shipped to the
port of Qingdao, Shandong Province, China, has cleared customs and
has now been transported to Ruifu Chemical's lithium concentrator
plant at the town of Yishui. The sample is being prepared for
treatment and the programme of testing and reporting is being
finalised between Ruifu Chemical and Kodal Minerals' technical
teams. The sample will be treated in the plant, subject to
finalisation of the programme and availability in the plant's
processing schedule. Further updates will be made as test results
become available.
**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
Jeremy Porter/Nick Harriss Tel: 020 3328
5656
SP Angel Corporate Finance LLP, Financial
Adviser & Broker Tel: 020 3470
John Mackay 0470
St Brides Partners Ltd, Financial PR
Catherine Leftley/Cosima Akerman Tel: 020 7236
1177
About Kodal Minerals
Kodal Minerals' primary focus is on the rapid advancement
towards production of its flagship Bougouni Lithium Project in
Southern Mali. The JORC Resource Estimate places the Bougouni
Project in the top 15 hard rock lithium projects globally and was
calculated using only three of the eight currently recognised
prospects demonstrating the significant exploration upside
potential remaining across the 450km(2) project area. The Mineral
Resource estimate for the Ngoualana, Sogola-Baoule and Boumou
prospects are tabulated below. These mineral resources are reported
in accordance with the JORC Code:
Prospect Indicated Inferred Total
Contained Contained Contained
Li(2) Li(2) Li(2) Li(2) Li(2) Li(2)
Tonnes O% O Tonnes O% O Tonnes O% O
(Mt) Grade (kt) (Mt) Grade (kt) (Mt) Grade (kt)
------- ------- ---------- ------- ------- ---------- ------- ------- ----------
Sogola_Baoule 8.4 1.09 91.9 3.8 1.13 42.8 12.2 1.10 134.8
------- ------- ---------- ------- ------- ---------- ------- ------- ----------
Ngoualana 3.1 1.25 39.2 2.0 1.12 22.1 5.1 1.20 61.3
------- ------- ---------- ------- ------- ---------- ------- ------- ----------
Boumou 4.0 1.02 40.4 4.0 1.02 40.4
------- ------- ---------- ------- ------- ---------- ------- ------- ----------
TOTAL 11.6 1.13 131.2 9.7 1.08 105.3 21.3 1.11 236.5
------- ------- ---------- ------- ------- ---------- ------- ------- ----------
Notes: Mineral resources are reported using a 0.5%Li(2) O
cut-off. Figures may not sum due to rounding. The contained metal
is determined by the estimated tonnage and grade.
The Bougouni Project and recently acquired 200km(2) Bougouni
West project are located in an emerging lithium province that is
already attracting the attention of investors and off-take partners
interested in securing a long-term supply of lithium. With the
support of its strategic investor and off-take partner Suay Chin
International Pte, a Singapore-based lithium and chemical trader,
Kodal Minerals is well positioned to continue its ambitious
development programme at Bougouni.
Further to this, Kodal Minerals is the manager of additional
lithium and gold projects that are undergoing low cost exploration
programmes in addition to JV funded gold properties in Cote
d'Ivoire that offer potentially significant long-term value.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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