Kodal Minerals PLC ESIA and Bulk Sample Update (1366U)

TIDMKOD

RNS Number : 1366U

Kodal Minerals PLC

21 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

21 November 2019

Kodal Minerals plc ('Kodal Minerals' or the 'Company')

ESIA and Bulk Sample Update

Kodal Minerals, the mineral exploration and development company focused on its Bougouni Lithium Project in southern Mali, is pleased to provide a further update on its Environmental and Social Impact Assessment ('ESIA') application and the previously announced transport of the bulk sample of lithium ore for test processing in China.

The Company confirms the ESIA application has been reviewed by Mali ministerial advisors and has been sent to the office of the Ministre de l'Environnement, du l'Assainissement et du Développement Durable ('Environment Minister') and is pending final signature and approval. This process is expected to be completed shortly and the Company will provide updates as further news is received.

Further to the announcement of 18 September 2019, the Company further confirms that the bulk sample, having been shipped to the port of Qingdao, Shandong Province, China, has cleared customs and has now been transported to Ruifu Chemical's lithium concentrator plant at the town of Yishui. The sample is being prepared for treatment and the programme of testing and reporting is being finalised between Ruifu Chemical and Kodal Minerals' technical teams. The sample will be treated in the plant, subject to finalisation of the programme and availability in the plant's processing schedule. Further updates will be made as test results become available.

**ENDS**

For further information, please visit www.kodalminerals.com or contact the following:

 
 Kodal Minerals plc 
  Bernard Aylward, CEO                          Tel: [phone] 
                                                345 
 Allenby Capital Limited, Nominated Adviser 
  Jeremy Porter/Nick Harriss                    Tel: [phone] 
                                                5656 
 SP Angel Corporate Finance LLP, Financial 
  Adviser & Broker                              Tel: [phone] 
  John Mackay                                   0470 
 St Brides Partners Ltd, Financial PR 
  Catherine Leftley/Cosima Akerman              Tel: [phone] 
                                                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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November 21, 2019 02:01 ET (07:01 GMT)