Kodal Minerals provides construction update for Mali lithium project

The Project is fully funded through the US$117.5 million Hainan funding transaction. This funding transaction includes a US$100 million investment into Kodal Mining UK Limited (KMUK), a company owned 51% owned by the Hainan Group and 49% by Kodal, who is the developer of the Project.

The company has also provided a further update on drilling assay results returned at the Boumou prospect, located within the Bougouni Lithium Project in Southern Mali. These reported assay results are from reverse circulation (RC) drill holes completed in April and May 2024, which continue to return lithium mineralisation and define the geological controls on the Boumou prospect’s pegmatite bodies. Final assay results for the RC drilling programme and all assay results for the diamond core drilling are pending, with results expected in due course.

Highlights

• The first two shipments from China carrying the critical long lead equipment items and structural steelwork for the plant buildings have arrived at the Abidjan Port in Côte d'Ivoire.
• Offloading at the port has progressed quickly, utilising the services of Africa Cargo Central, a West African specialist supply chain and logistics management company.
• First convoy of trucks arrived at the Bougouni customs post and upon final clearance will deliver goods to site.
• The civil construction works have continued to progress well at Bougouni and overall completion has reached 85% with the completion of only minor floor slabs and smaller footings remaining.
• Opencast mining at the main Ngoualana pit is progressing, with the removal of overburden continuing and completion of three blasts of exposed hard rock and pegmatite bodies completed. This will ensure stockpiles of Ngoualana ore will be available well in advance of commissioning in 4Q24.
• Wide, high-grade extensions returned at the Boumou Prospect include:
  • 7 m at 1.16% Li₂O from 147 m in drill hole KLRC223.
  • 13 m at 1.07% Li₂O from 71 m in drill hole KLRC224.
• Diamond core drilling is continuing at the Boumou prospect to provide detailed geological information as well as samples for future metallurgical test work and geotechnical logging for opencast optimisation parameters.

Bernard Aylward, CEO of Kodal Minerals, remarked: “I am delighted to report that the Stage 1 development of the Bougouni Lithium Project continues to rapidly advance. The DMS and Ngoualana opencast development continues to advance with the opencast mining currently ahead of schedule, with no impact from the heavy rainfall experienced in July and early August associated with a heavy rainy season in 2024. Ahead of the assembling of the DMS processing plant, site works have continued to advance as planned with the completion of the foundations for the DMS units, and processing infrastructure and the crushing circuit. The area of the processing plant, office buildings and the opencast mine have remained outside of high-water levels and provide confidence of future mining and processing activities throughout the year.”

“The arrival of the first shipping cargoes into the Abidjan Port, and subsequent commencement of transport to the site is yet another positive step towards the successful development of the Bougouni Lithium Project. The contract for the DMS site installation has been awarded to local company, Bambara Resources SARL and subcontractor partner Jinpeng, who have recently completed the installation of a similar DMS processing plant in Nigeria. In addition, the site installation will be supported by expert engineers from Beijing High Dynamic, for the crushing circuit and from Haiwang Technology Group for the DMS units. This oversight will provide additional guidance and design verification for the successful plant commissioning of the operation.”

“The development of Bougouni the Project is now entering a critical and exciting phase as the construction assembling of the processing circuit commences and we will continue to provide regular updates as work progresses.”

Read the article online at: https://www.globalminingreview.com/mining/06092024/kodal-minerals-provides-construction-update-for-mali-lithium-project/