Kodal Minerals PLC Update on Exploration Programme: Bougouni Project (3918L)
19 April 2018 - 4:00PM
UK Regulatory
TIDMKOD
RNS Number : 3918L
Kodal Minerals PLC
19 April 2018
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
19 April 2018
Kodal Minerals plc ('Kodal Minerals' or 'the Company')
Update on Exploration Programme at Bougouni Lithium Project
Kodal Minerals plc, the mineral exploration and development
company focussed on West Africa, is pleased to provide an update on
the Company's exploration programme at the Bougouni Lithium Project
in Southern Mali ("Bougouni" or the "Project").
Highlights:
-- Reverse circulation drilling continuing on site with two
drill rigs operating on a "double shift" basis.
-- Drilling planned to continue through to the beginning of the
rainy season in June/July 2018 following which the Company expects
to be in a position to commission a JORC Compliant Mineral Resource
Estimate.
-- Following the issuance of the new licences (announced on 17
April 2018), the contract for the bulk sample excavation, crushing
and transport has been signed, initial payment made and the
contract mining firm will be mobilising to site shortly.
-- Metallurgical samples undergoing a test work programme at a
facility in Australia designed to validate and expand on the
initial metallurgical test results.
-- A second sample has been dispatched to Chinese plant of
Shandong Ruifu Lithium for further metallurgical testing following
the first sample which indicated Bougouni could produce battery
grade lithium carbonate.
Bernard Aylward, CEO of Kodal Minerals, said: "We are continuing
with the major exploration and definition programme at Bougouni
with multiple key activities happening in parallel as we look to
fast track our project towards a decision to mine in as short a
timeframe as practicable. The drilling is focused on infill and
definition at the Ngoualana and Sogola-Baoule prospects, while we
are also testing multiple exploration targets to define additional
high-grade pegmatite zones.
"Alongside this drilling campaign, we are also progressing our
bulk sample work and a contract mining firm will be mobilising to
site shortly. The bulk sample will provide us with critical
information regarding the mining and processing characteristics of
our mineralisation and the metallurgy will provide us with key
information on the quality of the product as well as specific
information to be included in potential processing plant
design."
Exploration Campaign:
Reverse Circulation Drilling
The reverse circulation ("RC") drilling programme is designed to
continue infill and extension of the Ngoualana and Sogola-Baoule
prospects. These are currently the two advanced prospects and it is
anticipated that with well targeted drilling the Company will be in
a position to commission a maiden JORC compliant mineral resource
estimate following completion of this campaign.
In addition to the definition drilling, the programme is also
continuing the exploration drill testing of existing and new
prospects to allow us to continue to develop an inventory of
targets within the Bougouni Lithium project that will support the
development of a future mining hub. Prospects for immediate drill
testing include the Boumou prospect, where previous first pass
drilling confirmed high-grade pegmatite hosted mineralisation, as
well as the newly identified Bougouni South prospect.
There are currently two drill rigs operating on site and this is
anticipated to continue until the rainy season commences, normally
in June/July. Assay results are pending for drilling completed in
February and March 2018 and will be released to the market as
received.
Bulk Sample
The contract for the 5,000t bulk sample has been signed and
mobilisation is commencing to site. The contract is with the
infrastructure development and mining group CGCOC, which has mining
operations in Uganda, Nigeria and Guinea. The group has been
contracted for the mining, crushing and transport of the sample to
the port of Dakar from where it will be transported to the Shandong
Ruifu Lithium plant in China for concentrating and processing
testwork.
The bulk sample will be extracted from the Ngoualana prospect
where outcropping and near surface mineralisation will be mined.
This prospect provides an ideal initial test as the Company has
surface mapping and sampling, drilling and geophysical data to
compare to the mining operation and this will provide excellent
data for use in future mine planning.
Metallurgy
The metallurgical testwork is continuing in Australia and China.
The sampling is testing selected intervals of the diamond core from
the Ngoualana prospect and will review the crushing parameters and
recovery results of the spodumene minerals from the DMS and
flotation system.
The metallurgical testwork will provide a "flow sheet" of the
proposed processing path and potential recovery of the product from
processing. The Company has been working towards developing a
mining operation in Bougouni with the aim of producing a spodumene
concentrate product for sale and this metallurgical test work will
be important is assisting the design and development of a
processing plant suitable for the Bougouni pegmatite hosted
mineralisation. As announced on 9 October 2017, Shandong Ruifi
Lithium, one of the largest lithium carbonate producers in China,
produced a high quality, low impurity battery grade lithium
carbonate using spodumene concentrate from Bougouni.
**ENDS**
For further information, please visit www.kodalminerals.com or
contact the following:
Kodal Minerals plc Tel: +61 418
Bernard Aylward, CEO 943 345
Allenby Capital Limited, AIM Nominated Adviser Tel: 020 3328
Jeremy Porter/Nick Harriss 5656
SP Angel Corporate Finance LLP, Financial Tel: 020 3470
Adviser & Broker 0470
John Mackay/Laura Harrison
St Brides Partners Ltd, Financial PR Tel: 020 7236
Susie Geliher/Megan Dennison 1177
This information is provided by RNS
The company news service from the London Stock Exchange
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