Mineral exploration and development company, Kodal Minerals plc, has provided an update on the progress of the Bougouni Lithium Project Mining Licence application in Mali and an update on its gold exploration properties in Mali and Cote d’Ivoire.
The Bougouni Project covers an area of 350km2 and is located approximately 180km south of Bamako, the capital of Mali, and benefits from established infrastructure via a sealed road from Bamako.
According to Kodal, the Feasibility Study accompanying the Mining Licence application has been accepted by the Ministry of Mines and Petroleum of Mali.
The Ministry of Mines and Petroleum confirmed that no further COMINE technical and financial meetings are required prior to Mining Licence approval.
The Directorate Nationale de la Géologie et des Mines (DNGM) has agreed the new Mining Licence area and new permit boundary that encompasses all resources and the proposed mining and associated infrastructure area.
Kodal is still awaiting formal issuance of final Mining Licence documents and noted that the COVID-19 restrictions have impacted on the Mali Government’s process and timing of delivery cannot be confirmed.
CEO of Kodal Minerals, Bernard Aylward, remarked that the acceptance of the Feasibility Study, submitted in support of the Mining Licence application, by the Mali Governments is a reflection of the level of detail supplied and incorporated into the study and supports their belief in the economic potential of the project.
“The Mali Government continues to be very supportive of the development of a lithium mining industry in Mali, and the progress of our permitting reflects the governmental support Kodal has received.”
“Although an exact timeline cannot be given for the final approval of the Mining Licence application, our communication with the Government will continue regularly and we will keep shareholders updated with our progress,” he said.
Gold exploration projects
Kodal’s gold assets in Mali and Cote d’Ivoire have attracted interest from investors and other exploration and development companies.
The company noted that the portfolio of gold assets has been maintained in good standing, and the tenure has been refreshed where possible.
The projects have been reviewed by Kodal’s geological team and a strategy for further exploration has been developed for the Nangalasso project in Mali and the Dabakala project in Cote d’Ivoire.
Nangalasso project review has highlighted a 5,500m gold anomalous trend with intersections including 21m at 1.25g/t gold, including 3m at 7.85g/t gold.
Dabakala project has an extensive surface geochemical anomaly extending for 8km in strike length in a new region with classical Birimian gold geological setting and structures.
Mr Aylward said Kodal’s gold projects have continued to attract interest in light of the ongoing strength in the gold price and recognition of a high-quality land position in the world-class Birimian sequence of West Africa.
“We have maintained our landholding in Mali where our priority Nangalasso project is located adjacent to the Syama Gold mine, and just 30km to the north of the Sissingue Gold mine.”
“Preliminary exploration has been undertaken at Nangalasso, returning very encouraging intersections over an extensive strike length and follow-up exploration is being developed.”
“In Cote d’Ivoire we have recently renewed licences and at our Dabakala project we expect to undertake infill geochemical sampling to define new drill targets.”
“This continues to be an active time for Kodal as we prepare for the granting of the Bougouni Lithium project mining licence and we have the opportunity to advance the exploration on our gold assets to enhance the long term value for the Company,” Mr Aylward concluded.