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Bougouni Assay Results & Funding Package Update
Bougouni Assay Results & Funding Package Update.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n\nThe 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\")\n \nKodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \n31 May 2023\nKodal Minerals plc\n(\"Kodal Minerals\", \"Kodal\" or the \"Company\")\n \nBougouni Lithium Project Final Assay Results Confirm High-Grade Mineralisation\nand\nUpdate on Funding Package - Further Extension of Long Stop Date to 30 June 2023\n \nKodal Minerals, the mineral exploration and development company focused on lithium and gold assets in West Africa, provides an update on the Bougouni Lithium Project Funding Package with Hainan Mining Co. Limited (\"Hainan\") and its wholly owned UK-incorporated subsidiary Xinmao Investment Co. Limited (\"Xinmao\") and the agreement of all parties to allow a further extension of the long stop date to 30 June 2023. \n \nThe Company is also pleased to provide an update on the completed drilling at the Company's Bougouni Lithium Project located in southern Mali. In this regard, the Company reports additional lithium mineralised intersections at the Boumou, Bougouni South and Ngoualana prospects.\n \nHighlights:\n· Further wide, high-grade extensions returned at the Boumou prospect with significant results including:\no 24m at 1.13% Li2O from 55m\nincluding 8m at 1.37% Li2O from 55m in drill hole KLRC193.\n· The Boumou prospect is a high priority target for further drilling to extend and define the pegmatite bodies to allow a new resource estimate to be completed.\n· Final results have been received for the Bougouni South drilling programme with significant lithium mineralised intersections including:\no 11m at 1.14% Li2O from 71m; and\n6m at 1.48% Li2O from 101m in drill hole MDRC135.\n· Drilling has confirmed extensive pegmatite veins at Bougouni South that require additional exploration including diamond drilling to determine structural control and extent of mineralisation. \n· At the Ngoualana prospect diamond drill holes completed along the strike of the orebody to obtain variability test samples have returned wide high-grade intersections up to:\no 37m at 2.17% Li2O from 3m t...