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LONDON (Alliance News) - Kodal Minerals PLC on Tuesday reported excellent results from the final assay results of drilling completed at its Bougouni lithium project in southern Mali.
Kodal shares were trading up 2.8% at 0.17 pence each.
The company said that results from the reverse circulation drilling completed at the project's Sogola-Baoule and Boumou prospects "highlight the excellent continuity and width of the pegmatite mineralisation" in the areas.
Among the highlights, Kodal reported at Sogola-Baoule the intersection of high-grade mineralisation including 31 metres at 1.33% lithium from 85 metres.
Meanwhile at Boumou Kodal found 11 metres at 1.32% lithium from 114 metres.
Kodal is on track to complete a mineral resource estimate for the project by the end of February.
"Kodal is continuing the fast track development of the Bougouni lithium project and has recently met with both the Mali Minister of Mines and delegation to provide an update on the project," Chief Executive Officer Bernard Aylward said.
"The first step is to complete the update of the JORC Mineral Resource as this will be utilised for the future mine design and scheduling. The company is also finalising the metallurgical testwork and the engineering design of the proposed processing plant."