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Kodal Minerals outlines 1st lithium resource at Bougouni

Kodal Minerals Plc released an initial resource estimate for its Bougouni project in southern Mali, with inferred resources of 17.3 million tonnes at 1.20% lithium oxide.

The estimate uses a 0.5% cutoff and covers three deposits known as Sogola-Baoule, Ngoualana and Boumou. Sogola-Baoule hosts 10.4 million tonnes at 1.18% Li2O, Ngoualana hosts 4.7 million tonnes at 1.34% Li2O and Boumou hosts 2.2 million tonnes at 1.01% Li2O.

The company said Sept. 5 that it also completed preliminary open pit optimizations to identify key areas for further drill testing and definition of the pegmatite-hosted mineralization. The study outlined conceptual open pit material totaling 13.2 million tonnes at 1.2% Li2O.

Kodal also commissioned a third-party processing review for Bougouni based on ongoing metallurgical testing, which estimated capital costs of A$14 million to build a dense media separation component at the processing plant.

The review also defined potential production costs of US$400/t of spodumene concentrate, which the company compared to current market selling prices in the range of US$800/t and US$900/t.

Additionally, the company expects an ongoing environmental and social impact assessment on Bougouni to be completed in the first quarter of 2019.