TIDMKOD
RNS Number : 5758O
Kodal Minerals PLC
11 October 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 October 2021
Kodal Minerals plc ('Kodal Minerals' or the 'Company')
High grade gold returned from re-split sampling at Nielle
Project, Cote d'Ivoire
Kodal Minerals, the mineral exploration and development company
focused on the Bougouni Lithium Project in Southern Mali
("Bougouni") and its gold assets in West Africa, is pleased to
announce high grade gold mineralisation returned from re-split
sampling for the reverse circulation ("RC") drilling at the Nielle
Project ("Nielle") located in northern Cote d'Ivoire. These latest
results follow on from the previous announcement of the initial
composite sample assay results for the completed RC drilling at the
Nielle Concession earlier this year.
Highlights
-- Re-split sampling completed to confirm characteristics of
gold mineralised zones returns grades up to 38.5g/t gold, and
intersections include:
o 13m at 5.07g/t gold from 12m in drill hole NLRC035*
- including 3m at 16.33g/t gold from 13m.
o 12m at 3.14g/t gold from 21m in drill hole NLRC038
- including 2m at 10.79g/t gold from 27m
o 5m at 15.42g/t gold from 7m in drill hole NLRC032
- including 2m at 31.54g/t gold from 8m
o 9m at 4.33g/t gold from 86m in drill hole NLRC038
- including 2m at 16.88g/t gold from 88m
(*Note NLRC035 interval 11m to 12m unable for re-split sampling
and not included in calculation)
-- These intersections confirm the extent and high-grade
mineralisation at Nielle and will be used to focus follow-up
drilling to target definition of high-grade zones.
-- Gold mineralisation associated with quartz-carbonate-sulphide
mineralisation and remains open along strike and at depth.
-- Kodal's first drilling campaign at Nielle has extended the
main zone of gold mineralisation, identified new parallel zones of
mineralisation and with aircore drilling has extended the target
zone.
Bernard Aylward, CEO of Kodal Minerals, commented: "The shallow,
high-grade gold mineralisation up to 38.5g/t gold from this latest
sampling is very encouraging. Our first detailed drilling programme
at Nielle has confirmed and extended the initial exploration work
of our former Joint Venture partner, and we are very keen to
re-commence drilling as soon as the access to the area is available
again, following the seasonal rains. The extent of the shallow-high
grade gold mineralisation will be important to determine as well as
continuing to extend the depth of the gold mineralised structures.
Exploration of these mineralised systems throughout West Africa is
continuing to highlight the importance of the controls on the
high-grade gold mineralised shoots, and our next phase of drilling
will also attempt to define the controls and possible plunge
directions of the high-grade zones.
"In addition to the gold exploration activity, Kodal is
continuing to monitor the progress of its Mining Licence
application for the Bougouni Lithium project and can confirm that
the licence is with the office of the Prime Minister awaiting final
signature. Updates to shareholders will be provided as soon as
further information is available."
FURTHER INFORMATION
Nielle Project
Kodal has completed the one metre re-split sampling of the
initial three metre composite sampling. The purpose of the re-split
sampling is to provide confirmation of the initial results and to
further constrain the controls on the gold mineralisation. These
results do confirm the reliability of the initial test work,
however the one metre sampling allows closer definition of the
width as well as the grade of the zones, and as demonstrated, can
return individual high grade samples. This initial RC drilling
programme has successfully confirmed and extended the previous gold
mineralised zones defined by the former joint venture partner
Resolute Mining Limited.
Gold mineralised intersections are associated with strong
alteration, sulphide mineralisation and quartz-carbonate veining.
The results of the RC drilling programme confirm a gold mineralised
system that remains open along strike and at depth. The presence of
shallow gold mineralisation is reflected in the surface geochemical
anomaly, and a review of the surface geochemical anomaly highlights
additional targets for drill testing. Follow-up and extension
drilling is planned to continue to test the defined gold
mineralised zone as well as continue to fully evaluate the
geochemical anomaly.
Significant final one metre re-split intersections for the RC
drill holes calculated using a 0.5g/t gold lower cut-off, maximum
2m internal dilution are tabled below:
Hole
Depth From To Thickness
Hole I.D. Northing Easting m m m m g/t Au
NLRC029 1135748 206476 145 86 95 9 4.33
Includes 88 90 2 16.88
108 109 1 4.06
139 140 1 2.31
--------- -------- --------- ----- ---- ---------- -------
NLRC030 1135851 206421 108 27 29 2 3.55
49 61 12 1.09
--------- -------- --------- ----- ---- ---------- -------
NLRC031 1135999 206459 108 2 5 3 3.26
8 10 2 1.66
14 15 1 1.92
33 35 2 1.49
NLRC032 1136001 206500 126 7 12 5 15.42
Includes 8 10 2 31.54
16 17 1 1.16
53 55 2 1.55
59 61 2 1.53
98 99 1 1.72
119 122 3 1.62
NLRC035 1136350 206513 84 3 10* 7 1.39
12* 25 13 5.07
Includes 13 16 3 16.33
NLRC036 1136350 206551 114 21 23 2 2.07
42 44 2 1.48
55 59 4 2.19
71 77 6 1.33
--------- -------- --------- ----- ---- ---------- -------
NLRC037 1136450 206550 126 15 17 2 1.41
36 39 3 1.19
56 59 3 3.29
82 83 1 14.93
NLRC038 1136450 206619 126 21 33 12 3.14
Includes 27 29 2 10.79
100 108 8 3.45
--------- -------- --------- ----- ---- ---------- -------
NLRC039 1136550 206609 108 4 20 16 1.45
--------- -------- --------- ----- ---- ---------- -------
NLRC040 1136550 206709 126 64 67 3 4.83
Includes 65 66 1 13.34
--------- -------- --------- ----- ---- ---------- -------
Notes: Drill holes are RC drill holes. Drill holes have been
sampled on a 1m basis with samples collected via a riffle split
system. Samples reported here are 1m re-split samples selected from
initial gold mineralised composite samples. Drill hole collars are
surveyed using a differential GPS with sub 1-metre accuracy,
coordinate system WGS84 - Zone 30N, and all holes are surveyed
down-hole for dip and azimuth on approximately 30m intervals. All
drill holes are geologically logged. Assay method is 50g Fire Assay
analysis, AAS reading to lower limit of 0.005g/t gold with samples
analysed by MSALabs in Yamoussoukro, Cote d'Ivoire. Assay results
are reported as g/t gold (ppm) and intersections are reported using
a 0.5g/t gold lower-cut-off and allowing for a maximum of 2m
internal dilution.
The next phase of exploration at Nielle will consist of
additional RC drill testing targeting the defined gold mineralised
zone and further aircore drilling targeting the surface geochemical
anomaly and geological targets. Drilling is anticipated to commence
as soon as possible following access becoming available following
the seasonal rains.
**S**
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. Isabelle Morris 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLURUORASURAAA
(END) Dow Jones Newswires
October 11, 2021 02:00 ET (06:00 GMT)
Kodal Minerals (LSE:KOD)
Historical Stock Chart
From Mar 2024 to May 2024
Kodal Minerals (LSE:KOD)
Historical Stock Chart
From May 2023 to May 2024
