Last checked at 3 Oct 2019 07:00
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
3 October 2019
Kodal Minerals plc ('Kodal Minerals' or the 'Company')
ESIA Update
Kodal Minerals, the mineral exploration and development company focused on its Bougouni Lithium Project in southern Mali, is pleased to provide this update on its Environmental and Social Impact Assessment ("ESIA") application.
The Company confirms it has lodged the addendum to the ESIA application following the formal validation meeting completed on Wednesday 18 September 2019 with the Direction Nationale de l'Assainissement et du Contrôle des Pollutions et des Nuisances ("DNACPN"), the governing administration for environmental matters in Mali.
As previously announced, the addendum incorporated material to address the minor matters raised by the DNACPN in this feedback session. Following this formal submission of the addendum, the DNACPN statutory approval period of 45 days will commence.
The Company has maintained close communication with the DNACPN and all project stakeholders throughout the period of ESIA report preparation and anticipates no significant issues with the submission. The Company expects formal approval of the ESIA within the legislated timeframe. The Company will provide updates of progress in due course.
**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 John Mackay
|
Tel: 020 3470 0470 |
St Brides Partners Ltd, Financial PR Catherine Leftley/Cosima Akerman
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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 450km2 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 | ||||||
Tonnes (Mt) | Li2O% Grade | Contained Li2O (kt) | Tonnes (Mt) | Li2O% Grade | Contained Li2O (kt) | Tonnes (Mt) | Li2O% Grade | Contained Li2O (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%Li2O 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 200km2 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.