Kodal Minerals PLC (KOD.L) Côte d’Ivoire Gold Exploration Permits Renewed

Côte d’Ivoire Gold Exploration Permits Renewed for Dabakala and Korhogo Projects

Kodal Minerals, the mineral exploration and development company is pleased to provide an update on its Côte d’Ivoire gold exploration concessions and the renewal of the exploration permits for the Dabakala and Korhogo projects.

Kodal Minerals maintains a suite of prospective gold exploration projects in Mali and Côte d’Ivoire. The Côte d’Ivoire exploration concessions consist of the Dabakala, Korhogo and Boundiali (under application) projects, which are owned and operated 100% by Kodal Minerals, and the Tiebissou, Nielle and M’Bahaikro (under application) projects, which are owned in a Joint Venture with Resolute Mining Limited (‘Resolute’), an ASX and LSE listed gold mining and exploration company.

Kodal has received confirmation that the exploration licences for the Dabakala and Korhogo concessions have each been renewed for a further three-year term, expiring in April 2023. (The other Côte d’Ivoire concessions named above expire after 1 to 2 years and upon grant will be for an initial three-year term with potential for renewal.)

In addition, the Company provides an update on activity on the Resolute Joint Venture. Exploration drilling has been planned for the Nielle project, located in the north of Côte d’Ivoire, to follow up on the gold mineralisation that was defined in previous drilling. Due to the outbreak of the COVID-19 virus, exploration activity planned by Resolute for Côte d’Ivoire is currently postponed and is not expected to re-commence until after the wet season towards the end of this year.

Kodal Minerals’ CEO, Bernard Aylward, said: “We are delighted to have been awarded a further three-year term on two of our wholly-owned concessions in Côte d’Ivoire which secures the Company’s exploration interests in these gold projects. During this unprecedented period, I am very pleased to be able to report a strong increase in interest in gold assets, demonstrating the potential value in the Company’s portfolio. ”

Further information on the concessions

The Dabakala project is located in central Côte d’Ivoire where previous work completed by Kodal Minerals has defined a new extensive surface geochemical anomaly. Field geological mapping highlights the association of sheared and altered geology associated with the anomaly, and the presence of artisanal workings further defines zones of interest. This is a large surface anomaly, extending for over 10km of strike and up to 800m in width. Exploration at Dabakala is at an early stage, with no previous drilling occurring within this zone. Further work is required to determine the potential for economic gold mineralisation to be defined.

The Korhogo project is located in north central Cote d’Ivoire and several phases of geochemical sampling have defined surface gold anomalous zones extending for over 2km in strike and up to 600m in width. Further exploration is required to review these targets and prioritise further work.

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