Kodal Minerals (KOD)

 

Kodal confirms high grade samples

Kodal Minerals says first rock-chip assay results confirm high-grade lithium mineralisation at the Bougouni lithium project.

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).

Highlights:

- Assay results up to 2.04% Li2O 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% Li2O and 1.65% Li2O.

- An additional 44 rock-chip samples are pending analysis from the ongoing geological reconnaissance at Bougouni.

- Reverse circulation drilling is continuing at Bougouni with the programme expected to be completed in mid-December.

- 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 confirm presence of lithium mineralisation, maximum result of 0.03% Li2O returned from limited sampling.

Chief executive Bernard Aylward 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."