TIDMKOD
RNS Number : 6917O
Kodal Minerals PLC
11 February 2021
Certain information contained within this announcement is deemed
by the Company to constitute inside information for the purposes of
Regulation 11 of the Market Abuse (amendment) (EU Exit) Regulations
2019/310 . Upon the publication of this announcement, this inside
information is now considered to be in the public domain.
Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining
11 February 2021
Kodal Minerals plc ('Kodal Minerals' or the 'Company')
Dabakala Surface Sampling Extends High Grade Gold Anomaly
Kodal Minerals, the mineral exploration and development company
with operations in Mali and Côte d'Ivoire, is pleased to provide an
update on the results of the surface geochemical sampling completed
at the Dabakala Concession ('Dabakala' or the 'Concession'), Côte
d'Ivoire, in December 2020.
The Company also continues preparations for its 2021 field
season to undertake exploration drilling at the Fatou Project in
southern Mali, and the Nielle Project in Côte d'Ivoire.
Highlights
-- High grade gold geochemical samples up to 6.14g/t gold
returned for the surface at Dabakala Concession, central Côte
d'Ivoire;
-- Extensive surface gold anomalism defined in the east of the
Concession extending for over 10km of strike and multiple
interpreted trends;
-- Extensive artisanal workings identified during the sampling
programme and anomalism extends beyond and parallel to the
workings;
-- Gold anomalous zone confirmed in multiple phases of sampling
and geological reconnaissance identifies geological and structural
controls on the gold mineralisation;
-- Field inspection of Dabakala anomalism planned for February 2021;
-- Field reconnaissance underway at the Fatou Project to review
historical drilling and proposed drill hole sites.
Bernard Aylward, CEO of Kodal Minerals, commented: "The
extensive surface gold anomalism defined at the Dabakala Concession
over multiple phases of sampling is very exciting for Kodal. The
exploration is currently at an early stage with sampling completed
on a wide spacing in an under-explored region of Côte d'Ivoire. The
consistency of the gold anomalism, the geological setting and the
presence of artisanal workings highlight the potential of this
project for Kodal as we continue to develop our gold portfolio and
demonstrate the value of the assets.
"Kodal is preparing for a very busy drilling and field
exploration season this year, and our priorities remain to define
JORC Compliant Mineral Resources at the Fatou Project, undertake
drilling at the Nielle Project, and undertake field review and
reconnaissance drilling at Dabakala to provide further geological
information on the extensive gold anomalous zone that we have
identified.
"Regarding our flagship lithium asset, as previously reported,
the Company is maintaining regular communications with the Mali
Transition Government to monitor the progress of the Bougouni
Project Mining Licence application and we will communicate
developments to the market as soon as there are updates to share
with investors. We continue to regard our Bougouni Lithium Project
as our key focus and believe it will be the Company's first
opportunity to develop a mining operation in Mali. I look forward
to providing updates when possible."
FURTHER INFORMATION
Dabakala Project
Kodal completed an infill surface geochemical sampling programme
at Dabakala in December 2020, with a total of 528 samples collected
(502 samples sites, 11 duplicate samples, 10 certified reference
samples and 5 blank QAQC samples) to add definition to the
previously defined anomalous zone. Geological mapping completed in
conjunction with the sampling highlighted shear zones and quartz
veining that was the target for the extensive artisanal
workings.
The results returned have extended as well as enhance the
surface gold anomalism with multiple, coherent zones defined. The
high-grade assay results include values of 6.14g/t gold, 2.10g/t
gold, 1.54g/t gold and 1.35g/t gold that are all supported by
neighbouring gold anomalous samples. Initial interpretation of the
gold anomalism is highlighting two principal orientations, being a
northerly trend and a north easterly trend. The observed anomalism
relates to the underlying geology and interpreted shear structures
that may control the potential for development of gold
mineralisation.
The initial review has outlined zones including:
-- North trending zone extending for over 9km in strike and up
to 1km wide. Assay values are up to 2.1g/t gold and the anomaly is
associated with an interpreted geological boundary between granitic
units and Birimian greenstone sequence.
-- North-east trending zone extending for over 11km in strike
and up to 1km in width. Results in the north-east trend include
assay of 6.14g/t gold and 1.54g/t gold. The trend is associated
with an interpreted shear structure and structural complexity.
-- A conjugate structural zone trending to the northwest is
interpreted, extending for over 6km strike and is a joining
structure between the two main orientations.
The extensive Dabakala surface gold anomaly is a new area
defined by Kodal exploration and no previous drilling has occurred
in the area. The next stage of exploration will be a field visit by
our geological team to review the anomalous zones, collect rock
chip samples where appropriate and further define the controls on
the gold anomalism. This will include detailed geological field
mapping and sampling of the workings will be undertaken to assist
in the targeting of the future drilling.
**ENDS**
For further information, please visit www.kodalminerals.com or
contact the following:
Kodal Minerals plc Tel: +61 418 943
Bernard Aylward, CEO 345
Allenby Capital Limited, Nominated Adviser Tel: 020 3328
Jeremy Porter/Liz Kirchner 5656
SP Angel Corporate Finance LLP, Financial Tel: 020 3470
Adviser & Broker 0470
John Mackay, Adam Cowl
St Brides Partners Ltd, Financial PR Tel: 020 7236
Susie Geliher/Cosima Akerman 1177
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.
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