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    KOD   GB00BH3X7Y70

KODAL MINERALS PLC

(KOD)
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Kodal Minerals plc Announces High Grade Gold Mineralisation Returned from Re-Split Sampling for the Reverse Circulation ('RC') Drilling At the Nielle Project

10/11/2021 | 02:00am EST

Kodal Minerals Plc announced high grade gold mineralisation returned from re-split sampling for the reverse circulation ('RC') drilling at the Nielle Project ("Nielle") located in northern Cote d'Ivoire. These latest results follow on from the previous announcement of the initial composite sample assay results for the completed RC drilling at the Nielle Concession earlier this year. Highlights include: Re-split sampling completed to confirm characteristics of gold mineralised zones returns grades up to 38.5g/t gold, and intersections include: 13m at 5.07g/t gold from 12m in drill hole NLRC035 including 3m at 16.33g/t gold from 13m; 12m at 3.14g/t gold from 21m in drill hole NLRC038 including 2m at 10.79g/t gold from 27m; 5m at 15.42g/t gold from 7m in drill hole NLRC032 including 2m at 31.54g/t gold from 8m; 9m at 4.33g/t gold from 86m in drill hole NLRC038 including 2m at 16.88g/t gold from 88m. Kodal has completed the one metre re-split sampling of the initial three metre composite sampling. The purpose of the re-split sampling is to provide confirmation of the initial results and to further constrain the controls on the gold mineralisation. These results do confirm the reliability of the initial test work, however the one metre sampling allows closer definition of the width as well as the grade of the zones, and as demonstrated, can return individual high grade samples. This initial RC drilling programme has successfully confirmed and extended the previous gold mineralised zones defined by the former joint venture partner Resolute Mining Limited. Gold mineralised intersections are associated with strong alteration, sulphide mineralisation and quartz-carbonate veining. The results of the RC drilling programme confirm a gold mineralised system that remains open along strike and at depth. The presence of shallow gold mineralisation is reflected in the surface geochemical anomaly, and a review of the surface geochemical anomaly highlights additional targets for drill testing. Follow-up and extension drilling is planned to continue to test the defined gold mineralised zone as well as continue to fully evaluate the geochemical anomaly.


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Financials
Sales 2021 - - -
Net income 2021 -0,62 M -0,83 M -0,83 M
Net cash 2021 2,43 M 3,24 M 3,24 M
P/E ratio 2021 -25,0x
Yield 2021 -
Capitalization 42,9 M 56,8 M 57,1 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees 9
Free-Float 79,4%
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Managers and Directors
Bernard Michael Aylward Chief Executive Officer & Executive Director
Robert Ian Wooldridge Non-Executive Chairman
Charles Joseland Independent Non- Executive Director
Qingtao Zeng Non-Executive Director
Steven Zaninovich Project Manager-Bougouni Lithium Project
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