Kodal Minerals (KOD)

Sector:

Mining

Index:

FTSE AIM All-Share

0.26p
   
  • Change Today:
      0.005p
  • 52 Week High: 0.39p
  • 52 Week Low: 0.21p
  • Currency: UK Pounds
  • Shares Issued: 16,904m
  • Volume: 70,688,542
  • Market Cap: £43.10m

Kodal Minerals reports promising results from Bougouni tests

By Josh White

Date: Wednesday 07 Dec 2016

LONDON (ShareCast) - (ShareCast News) - West Africa-focused mineral exploration and development company Kodal Minerals announced high grade rock chip results from the first dispatch of samples from the reconnaissance rock chip sampling at its lithium interests in Southern Mali on Wednesday.
The AIM-traded firm said the first rock-chip assay results confirmed high-grade lithium mineralisation at the Bougouni lithium project, with up to 2.04% Li2O returned for sampling at the Sogola pegmatite vein located within Bougouni.

New areas of high-grade lithium mineralisation were identified within Bougouni with assay results up 1.9% Li2O and 1.65% Li2O.

An additional 44 rock-chip samples were pending analysis from the ongoing geological reconnaissance at Bougouni, and reverse circulation drilling was continuing with the programme expected to be completed in mid-December.

That drilling was targeting the Bougouni's Sogola, Ngoualana and Kola veins initially, with further geological exploration to develop the new high-grade targets for drilling.

Initial results from the Diendio lithium project confirmed the presence of lithium mineralisation, with a maximum result of 0.03% Li2O returned from limited sampling, the company's board added.

"These initial rock-chip results confirm the presence of high-grade lithium mineralisation at Bougouni and reinforced our confidence in the prospectivity and potential strategic value of this asset," said chief executive Bernard Aylward.

"Kodal has acquired a significant landholding in this region and our exploration activity is continuing to highlight multiple targets and areas of high-grade lithium mineralisation."

Aylward said exploration was continuing at Bougouni with the first RC drilling programme underway targeting three of the company's high-grade pegmatite veins.

"This drilling is expected to be completed in mid-December 2016 and will provide vital information on the depth and continuity of the pegmatite bodies as well as provide reliable samples for analysis of the grade of the mineralisation.

"Kodal will continue to rapidly explore and advance both Bougouni and the newly acquired Diendio, with on-going geological mapping, sampling and additional drilling planned."

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Kodal Minerals Market Data

Currency UK Pounds
Share Price 0.26p
Change Today 0.005p
% Change -1.92 %
52 Week High 0.39p
52 Week Low 0.21p
Volume 70,688,542
Shares Issued 16,904m
Market Cap £43.10m

Kodal Minerals Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
47.12% below the market average47.12% below the market average47.12% below the market average47.12% below the market average47.12% below the market average
19.35% below the sector average19.35% below the sector average19.35% below the sector average19.35% below the sector average19.35% below the sector average
Price Trend
7.81% above the market average7.81% above the market average7.81% above the market average7.81% above the market average7.81% above the market average
27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average
Income Not Available
Growth Not Available

Kodal Minerals Dividends

No dividends found

Trades for 16-Aug-2022

Time Volume / Share Price
17:07 9,800,000 @ 0.26p
16:29 169,382 @ 0.25p
16:20 1,946 @ 0.26p
16:19 100,000 @ 0.25p
16:19 7,785 @ 0.26p

Kodal Minerals Key Personnel

CEO Bernard Aylward

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