Kodal Minerals PLC - West Africa-focused mineral explorer and developer - Says JORC mineral resource estimate for the Bougouni Lithium project in southern Mali has been updated to 31.9 million tonnes at 1.1% lithium oxide, up 40% from the 2019 MRE of 12.2 mt. "The significant increase is specific to the Ngoualana and Boumou deposits following the drilling programmes completed in early 2023," it says. Adds that the next Bougoni drilling campaign will "commence imminently." Chief Executive Officer Bernard Aylward says: "The significant increase in Bougouni's lithium endowment is a further step towards becoming a West African spodumene producer of substance and scale. With the results from the latest drilling campaign delivering over 10mt of resource, we are looking forward to bringing Bougouni into production at the end of 2024, as well as ramping up the drilling programme to include infill and extension definition drilling, and uncovering additional discoveries within our extensive mining licence."
Current stock price: 0.67 pence, up 1.0%
12-month change: multiplied from 0.29 pence
By Sabrina Penty, Alliance News reporter
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Kodal Minerals (KOD)