Bougouni Lithium Project : Kodal Minerals announces over 40% increase in resources

Kodal Minerals, a leading mineral exploration and development company focused on lithium and gold assets in West Africa, has announced a substantial increase in the JORC Mineral Resource estimate (MRE) for its Bougouni Lithium Project in southern Mali. The updated MRE now stands at 31.9 million tonnes (Mt) at 1.06% Lithium Oxide (Li2O), marking an impressive increase of over 40% from the previous estimate in 2019.

Expansion of the Bougouni Lithium Project

The significant growth in the spodumene resource at the Bougouni Lithium Project is specific to the Ngoualana and Boumou deposits. This comes after comprehensive drilling programmes completed in early 2023, which added 10.6Mt to the overall MRE. The Boumou prospect experienced a remarkable 236% increase from the 2019 estimate, reaching 13.1Mt at 1.04% Li2O, while Ngoualana saw a 9% increase to 6.7Mt at 1.00% Li2O.

Kodal Minerals’ Bougouni Lithium Project in Mali hits major milestone with resource expansion

Development Strategies and Future Drilling Campaigns

Kodal Minerals’ development plans for the Bougouni Lithium Project include a two-stage strategy: Stage 1 involving processing ore from the Ngoualana deposit through a dense media separation (DMS) process plant, and Stage 2 focusing on ore processing from the Boumou and Sogola-Baoulé deposits through a flotation plant. The company is also planning further drilling campaigns to expand the Sogola-Baoulé prospect and commence drilling at the Boumou prospect along an additional 750m strike length.

CEO’s Vision for the Bougouni Lithium Project

Bernard Aylward, CEO of Kodal Minerals, expressed his enthusiasm for the project’s progress, stating: “The significant increase in Bougouni’s lithium endowment is a further step towards becoming a West African spodumene producer of substance and scale.” He highlighted the success of the recent drilling campaign and the company’s commitment to expanding the project’s capabilities and platform.

Conclusion

The Bougouni Lithium Project’s substantial resource increase represents a major milestone for Kodal Minerals in its quest to become a leading lithium producer in West Africa. With the planned expansion and development strategies, the company is poised to make a significant impact in the global lithium market through the Bougouni Lithium Project.