The Joint Ore Reserves Committee- (Jorc-) compliant mineral resource estimate for Kodal Minerals’ 450 km2 Bougouni lithium project, in Mali, has increased by 23%.
Kodal on Thursday published the results of an updated resource estimate, which incorporates the results of all definition and extension drilling completed from October to December 2018 and, importantly, has allowed the company to classify a major portion of the minerals resource estimate – 55% – as indicated resource.
“The significance of this updated and increased mineral resource estimate lies in the fact that it enabled us to classify a large portion of the mineral resource estimate as an indicated resource – this is fundamental for our ongoing mine development study,” commented Kodal CEO Bernard Aylward in a statement on Thursday.
The drilling focused solely on the three prospects with existing resources, namely Sogola-Baoule, Ngoualana and Boumou.
The overall Jorc-compliant mineral resource increased to 21.3-million tonnes at 1.11% lithium oxide (Li2O), with 11.6-million tonnes at 1.13% Li2O in the indicated category and 9.7-million tonnes at 1.08% Li2O in the inferred category.
Moreover, a mine development study at Bougouni is advancing, with the environmental- and social-impact assessment nearing completion and engineering consultants having been appointed to advance mine planning.