ESIA Update

RNS Number : 8776M

Kodal Minerals PLC

19 September 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

19 September 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 (the 'Project' or the 'Bougouni Project'), is pleased to provide the following update on its Environmental and Social Impact Assessment ("ESIA") application.

A formal validation meeting of the ESIA was held on Wednesday 18 September with the Direction Nationale De L'Assainissement et du Contrôle des Pollutions et des Nuisances ("DNACPN"), the governing administration for environmental matters in Mali.  The meeting was attended by Kodal Minerals Project Manager Steve Zaninovich, its Country Manager Mohamed Niare, the Company's ESIA Consultant group Digby Wells and by a number of Kodal Minerals technical staff, to ensure all questions and comments were addressed.

Bernard Aylward, CEO of Kodal Minerals, remarked: "Our ESIA application is progressing well and as anticipated.  During the meeting attended by our team we received positive feedback to the Project and our approach to working with the community and the Mali Government in finalising our application.  We have received some comments and will incorporate these into a final submission that will be presented to the Mali Government as soon as practicable to continue to progress our application."

Next Steps

Following the incorporation of further material to address the matters raised by the DNACPN in this feedback session, an addendum to the ESIA will be submitted.  The matters arising from the DNACPN were minor in nature, and Kodal anticipates the addendum will be completed within a short period. Following formal submission of the addendum, the DNACPN statutory approval period of 45 days commences.

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: [phone]
Allenby Capital Limited, Nominated Adviser Jeremy Porter/Nick Harriss	Tel: [phone]
SP Angel Corporate Finance LLP, Financial Adviser & Broker John Mackay	Tel: [phone]
St Brides Partners Ltd, Financial PR Catherine Leftley/Cosima Akerman	Tel: [phone]

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.

 

END

 

 

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