TIDMKOD
RNS Number : 7158N
Kodal Minerals PLC
11 August 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
11 August 2017
Kodal Minerals plc ('Kodal Minerals' or 'the Company')
Diamond core assay results confirm high-grade pegmatite
intersections at Ngoualana Prospect within Bougouni Lithium
Project, Mali
Kodal Minerals plc, the mineral exploration and development
company focussed on West Africa, is pleased to announce the results
of the diamond core drilling completed at the Ngoualana prospect,
located at the Company's Bougouni lithium project in Southern Mali
("Bougouni" or the "Bougouni Project").
Highlights
-- Ngoualana prospect: final results for the five diamond drill
holes for 362.1m of core have been received. Intersections
include:
o 41.5m at 1.71% Li(2) O from 45.89m;
o 27.25m at 1.61% Li(2) O from 28.65m;
o 26.25m at 1.51% Li(2) O from 30.46m; and
o 17m at 1.69% Li(2) O from 25.55m.
-- Diamond core targeted shallow depths to confirm interpreted
width and nature of mineralisation, and all holes returned
mineralisation as expected.
-- Geological logging of diamond core and comparison to assay
results confirms consistent mineralisation throughout the zones and
spodumene rich pegmatites.
-- Ngoualana prospect remains open at depth and along strike and
further drilling is planned following cessation of the annual
rains.
Bernard Aylward, CEO of Kodal Minerals, said: "These diamond
core drill results provide us with a high-level of confidence in
the information captured from the earlier reverse circulation
("RC") drilling, and continue to demonstrate the high-grade
mineralisation and continuity of the Ngoualana prospect. We will
continue with the metallurgical testing of the diamond core to
improve our understanding of the characteristics of the
mineralisation. We anticipate being able to extend this prospect
when we recommence drilling following the rainy season.
"We are continuing with our field programme with our geological
team at Bougouni preparing for the ground magnetic survey that may
assist in delineating key structures and controls on mineralisation
around the Ngoualana prospect, as well as planning for a very busy
field season ahead. We are well funded and have strong support to
maintain the rapid exploration and delineation programme."
Further Information
Bougouni Lithium Project
The Bougouni Project 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 been exploring the
concessions since September 2016 and has completed a series of
geological reconnaissance, rock chip sampling, geophysical review,
trench sampling and RC and diamond drilling. The exploration
activities continue to enhance the project, with numerous
exploration targets developed and drill results confirming
high-grade mineralisation.
Ngoualana Prospect
Kodal completed diamond drill testing at the Ngoualana prospect
in June 2017 with a total of five diamond drill holes for 362.1m
completed. All results for the diamond core have now been
received.
The Ngoualana prospect consists of one wide main vein that is
continuous throughout the prospect, and multiple parallel and
subsidiary pegmatite veins. The prospect has been confirmed over a
strike length of 650m, and remains open along strike with the final
drill holes confirming lithium mineralisation. The prospect remains
open at depth, with drilling having tested to greater than 225
vertical metres.
Geological logging of the diamond core confirmed the information
from the RC drilling and highlighted the width and continuity of
the pegmatite vein. The pegmatite is rich in spodumene and analysis
of the assays confirms the high-grade results are clearly
associated with the spodumene rich zones. The review of assay
results further confirms that the mineralisation is consistent
throughout the pegmatites, with the complete vein mineralised.
Further detailed metallurgical test work will be completed on
the mineralised zones of the drill core, and a composite bulk
sample is being collected.
Summary Drill Intersections
Intersections reported in this announcement are tabled below,
with intersections calculated using a 1% Li(2) O lower cut-off,
maximum 2m internal dilution and only reporting intersections of
greater than 5m width. The intersections have been reviewed against
the logged geology to confirm zones.
The 1% Li(2) O lower cut-off is a regarded as a high limit for
reporting and reflects the nature of the spodumene rich pegmatite
units and the consistency of the mineralised zones.
Table 1: Summary diamond core intersection, Ngoualana prospect
August 2017
Hole From To Thickness Li(2)
Prospect Id m m m O % Comment
----------- --------- ------ ------ ---------- ------ -----------------------
Pegmatite containing
Ngoualana KLDH001 45.89 87.39 41.50 1.71 abundant spodumene
Contact zone with
metasediment and
Ngoualana 87.50 88.75 1.25 1.72 pegmatite
---------------------- ------ ------ ---------- ------ -----------------------
Pegmatite containing
abundant spodumene
Ngoualana KLDH002 30.46 56.71 26.25 1.51 and minor garnet.
----------- --------- ------ ------ ---------- ------ -----------------------
Pegmatite containing
abundant spodumene,
Ngoualana KLDH003 25.55 42.55 17.00 1.69 mica and minor garnet
----------- --------- ------ ------ ---------- ------ -----------------------
Pegmatite containing
abundant spodumene,
Ngoualana KLDH004 14.20 40.45 26.25 1.22 mica and minor garnet
----------- --------- ------ ------ ---------- ------ -----------------------
Pegmatite containing
abundant spodumene,
Ngoualana KLDH005 28.65 55.90 27.25 1.61 mica and minor garnet
----------- --------- ------ ------ ---------- ------ -----------------------
Notes: Drill holes are diamond core drill holes completed by
specialist contractor Geodrill Limited. Drill holes have been
sampled on a geological basis with zones of pegmatite identified in
geological logging and selectively sampled on a 0.25m interval (or
shorter for geological contacts). Samples are half-core HQ core
size. Drill hole collars are surveyed using a hand-held GPS with
sub1-metre accuracy, coordinate system WGS84 - Zone 29N, and all
holes are survey down-hole for dip and azimuth on approximately 30m
intervals. All drill holes are geologically logged, and sampling
for analysis based on geological boundaries. Samples have been
analysed by ALS Global. Assay results are reported as Li% and
converted to Li(2) O% by applying a factor of 2.153. Intersections
are reported using a 1%Li(2) O lower-cut-off, and allowing for a
maximum of 2m internal dilution.
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
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
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