Kodal Minerals PLC ESIA Approved for Bougouni Lithium Project (4470U)
November 25 2019 - 1:00AM
UK Regulatory
TIDMKOD
RNS Number : 4470U
Kodal Minerals PLC
25 November 2019
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
25 November 2019
Kodal Minerals plc ('Kodal Minerals' or the 'Company')
ESIA Approved for Bougouni Lithium Project
Kodal Minerals, the mineral exploration and development company
focused on its Bougouni Lithium Project in southern Mali, is
pleased to advise that the Environmental and Social Impact
Assessment ('ESIA') application for the Bougouni Lithium Project
has been approved.
The Company confirms that its local representatives have
received the approved ESIA signed by the Ministre de
l'Environnement, du l'Assainissement et du Développement Durable
('Environment Minister'). This is the Environmental Permit for the
development of the Bougouni Lithium Project.
The Company is continuing to finalise the mining assessment and
technical reports to lodge its Mining Licence application which it
expects to submit by the end of the year.
Bernard Aylward, CEO of Kodal Minerals, remarked: "We are very
pleased to receive the Environmental Permit for Bougouni Lithium
Project. This approval recognises the excellent work of our
technical team and consultants and our continued strong
relationship with the Mali Government and local communities."
**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
Jeremy Porter/Nick Harriss Tel: 020 3328
5656
SP Angel Corporate Finance LLP, Financial
Adviser & Broker Tel: 020 3470
John Mackay 0470
St Brides Partners Ltd, Financial PR
Catherine Leftley/Cosima Akerman Tel: 020 7236
1177
About Kodal Minerals
Kodal Minerals' primary focus is on the rapid advancement
towards production of its flagship Bougouni Lithium Project in
Southern Mali. The JORC Resource Estimate places the Bougouni
Project in the top 15 hard rock lithium projects globally and was
calculated using only three of the eight currently recognised
prospects demonstrating the significant exploration upside
potential remaining across the 450km(2) project area. The Mineral
Resource estimate for the Ngoualana, Sogola-Baoule and Boumou
prospects are tabulated below. These mineral resources are reported
in accordance with the JORC Code:
Prospect Indicated Inferred Total
Contained Contained Contained
Li(2) Li(2) Li(2) Li(2) Li(2) Li(2)
Tonnes O% O Tonnes O% O Tonnes O% O
(Mt) Grade (kt) (Mt) Grade (kt) (Mt) Grade (kt)
------- ------- ---------- ------- ------- ---------- ------- ------- ----------
Sogola_Baoule 8.4 1.09 91.9 3.8 1.13 42.8 12.2 1.10 134.8
------- ------- ---------- ------- ------- ---------- ------- ------- ----------
Ngoualana 3.1 1.25 39.2 2.0 1.12 22.1 5.1 1.20 61.3
------- ------- ---------- ------- ------- ---------- ------- ------- ----------
Boumou 4.0 1.02 40.4 4.0 1.02 40.4
------- ------- ---------- ------- ------- ---------- ------- ------- ----------
TOTAL 11.6 1.13 131.2 9.7 1.08 105.3 21.3 1.11 236.5
------- ------- ---------- ------- ------- ---------- ------- ------- ----------
Notes: Mineral resources are reported using a 0.5%Li(2) O
cut-off. Figures may not sum due to rounding. The contained metal
is determined by the estimated tonnage and grade.
The Bougouni Project and recently acquired 200km(2) Bougouni
West project are located in an emerging lithium province that is
already attracting the attention of investors and off-take partners
interested in securing a long-term supply of lithium. With the
support of its strategic investor and off-take partner Suay Chin
International Pte, a Singapore-based lithium and chemical trader,
Kodal Minerals is well positioned to continue its ambitious
development programme at Bougouni.
Further to this, Kodal Minerals is the manager of additional
lithium and gold projects that are undergoing low cost exploration
programmes in addition to JV funded gold properties in Cote
d'Ivoire that offer potentially significant long-term value.
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END
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