Kodal Minerals PLC - miner developing project in southern Mali and Ivory Coast - Application for the Bougouni mining licence in Mali has been forwarded from the Ministry of Mines, Energy & Water to the Secretary General's office for its final review.
In addition, reveals aircore drill results for Nielle gold project in the Ivory Coast, with widespread drill traverses confirming a 4.5 kilometres gold mineralised trend with extensions of up to 1.5km south and over 1km north.
"Our Mining Licence application for the Bougouni Lithium Project is now in the final stages of approval. The new Mining licence decree has been drafted and verified by the Mali Ministry of Mines and forwarded to the Secretary General's office," says Chief Executive Officer Bernard Aylward.
"The Nielle prospect is at an early stage however the results received so far have given encouragement as to the possible resource potential here. Further exploration drilling will be undertaken later this year with the objective of delivering a maiden mineral resource estimate," Aylward adds.
Current stock price: 0.35 pence, down 4.8%
Year-to-date change: up sharply from 0.11p
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Kodal Minerals (KOD)