Kodal Minerals releases drilling results for Bougouni West concessions
Kodal Minerals has announced the initial drilling results for the Boumou Prospect within the Bougouni lithium project in Mali.
The results confirm wide and high-grade extensions of the prospect, with the widest intersections returned to date at up to 51m width and the highest-grade intersections with grades up to 3.27% Li2O. The drilling also confirms an extension of the Boumou prospect for over 250m to the west, with potential for over 700m of additional strike length to be added with the identification of pegmatite material along strike.
Extension of mine
In addition, Kodal has reached an agreement to sell its Bougouni West concessions to Leo Lithium for a total cash consideration of £2.5 million, with Kodal receiving £2.0 million and the original concession holder Bambara Resources SARL receiving £0.5 million.
“The wide, high grade intersections returned for the Boumou prospect confirm our confidence that the Bougouni Project will continue to deliver significant new zones of pegmatite hosted mineralisation and provide confidence for the extension of the mine life at Bougoun.
These new intersections are the widest and highest grade so far returned from Boumou, and the geological reconnaissance identifying further extension of strike length point to Boumou developing into a significant prospect. Kodal believes that the best return for our exploration expenditure will be in the Bougouni Project, however, our agreement with Leo Lithium means we retain exposure to any exploration upside at Bougouni West and that the necessary work will be completed with a greater focus than could be justified by Kodal,” said Bernard Aylward, CEO of Kodal Minerals.
