Kodal Minerals PLC Defines Four New Gold Anomalous Zones at Korhogo (6891L)
October 05 2016 - 1:00AM
UK Regulatory
TIDMKOD
RNS Number : 6891L
Kodal Minerals PLC
05 October 2016
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
5 October 2016
Kodal Minerals Plc
("Kodal" or the "Company")
New Surface Gold Geochemical Anomalies Defined, Korhogo, Cote
d'Ivoire
Kodal, the mineral exploration and development company with
interests in West Africa, is pleased to announce that it has
received the results of the wide-spaced surface geochemical
sampling programme recently completed at its 100% owned Korhogo
Project ("Korhogo" or the "Project") located in northern Cote
d'Ivoire. To view the press release with the illustrative map
please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6891L_-2016-10-4.pdf
Highlights
-- Surface geochemical sampling has returned four new gold
anomalous zones with assay values up to 92 parts per billion
("ppb") Au and strike lengths exceeding 3.5km (refer Figure 1 - See
PDF).
-- A total of 640 geochemical samples were collected, with three
rock chip samples and 34 QAQC (quality assurance and quality
control) samples for a total of 677 samples dispatched to the SGS
laboratories in Bamako, Mali.
-- Geological interpretation indicates anomalies are associated
with in-situ material and geological structures are evident in
aeromagnetic data and geological mapping.
-- Follow-up and infill geochemical sampling is required to
define targets for reconnaissance aircore drilling.
Bernard Aylward, CEO of Kodal Minerals, said: "This area of Cote
d'Ivoire has been very under-explored and this exploration confirms
our view on the potential of this area to contain gold
mineralisation. Although exploration at Korhogo is still at an
early stage, our sampling programme has now been completed
targeting major geological features, areas of artisanal workings
and identified shear zones. We are pleased to have defined four new
gold anomalous zones as a result, and follow-up exploration is now
required to define these zones and prioritise targets for first
pass drilling.
"Our current exploration programme is designed to target our
highly prospective Bougouni Lithium projects in Mali having
recently raised GBP750,000 to rapidly advance the project towards
JORC compliant status in the near term, however we will also
continue to advance our prospective gold projects to unlock the
upside potential and ensure we realise value for our shareholders
and the exploration expenditure."
Further Information
Korhogo Project
Kodal is the 100% owner of the 360.6km(2) Korhogo concession
located in central Cote d'Ivoire, approximately 250km north of the
capital city Yamoussoukro. The concession was granted on 8 January
2014 for a three-year term, with additional three year renewals
available.
The exploration completed at Korhogo to date is at a very early
stage, with no previous modern exploration completed prior to the
grant of the concession. Initial surface geochemical sampling had
been completed by Taruga Gold Limited (ASX:TAR), and this surface
geochemical sampling programme was designed to test multiple
targets and assess priority areas on a very wide-spaced 1km x 200m
reconnaissance grid. This surface sampling has consisted of
conventional surface sampling, with a 2kg sample collected from
approximately 50cm below surface and a series of termite mound
samples. A total of 644 samples have been collected and analysed at
SGS Laboratories, Bamako by Fire Assay for gold only. The total
geochemical sampling for the concession is 933 samples with a range
of assay results from below detection to a maximum of 92ppb Au.
The interpretation of the geochemistry indicates that the
programme has defined four anomalous gold zones:
-- Zone 1 - 3.5km x 1.2km anomaly defined with values up to
39ppb Au and remains open along strike. This anomaly is associated
with a zone of shearing and geological contact between
metasedimentary units and intrusive granodiorites. The aeromagnetic
data is indicating a continuous structure that is consistent with
the geochemistry.
-- Zone 2 - 3km x 2km anomaly defined with values up to 92ppb
Au. This zone is associated with a northeast fault zone and areas
of aeromagnetic anomaly. The geochemical anomaly is consistent with
the interpreted geology and geophysics.
-- Zone 3 - 2km x 1km anomaly defined with values up to 36ppb
Au. This anomaly is related to a shear zone and potential contact
zone between granodiorite and metasediments.
-- Zone 4 - 3.5km x 1km anomaly defined and remains open along
strike. This anomaly is hosted within sheared granodiorite units,
and may be related to the same shear zone as Zone 1. This area has
identified artisanal workings and remains open along strike.
Kodal is continuing with its field programme with a focus on the
Bougouni Lithium projects in Mali. In addition, the Company will
undertake exploration on its gold projects and at the Korhogo
project it intends to undertake further field geological mapping
and infill geochemical sampling to define priority targets for
initial aircore drilling.
Figure 1 - See PDF Link
**ENDS**
For further information, please visit www.kodalminerals.com or
contact the following:
Kodal Minerals plc
Bernard Aylward, CEO Tel: +61 418
943 345
----------------------------------- ----------------
Allenby Capital Limited, Nominated
Adviser Tel: 020 3328
Jeremy Porter/Nick Harriss 5656
----------------------------------- ----------------
SP Angel Corporate Finance LLP,
Financial Adviser & Broker Tel: 020 3470
John Mackay/Laura Harrison 0470
----------------------------------- ----------------
St Brides Partners Ltd, Financial
PR Tel: 020 7236
Susie Geliher/Lottie Brocklehurst 1177
----------------------------------- ----------------
This information is provided by RNS
The company news service from the London Stock Exchange
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