JOHANNESBURG (miningweekly.com) – Mineral exploration company Kodal has increased its exposure to the high-demand lithium market through an agreement to explore and acquire a concession in southern Mali that is prospective for lithium mineralisation.
The concession, known as Kolassokoro, is immediately adjacent to the recently acquired Madina project, giving Kodal 500 km2 of landholding with defined high-grade lithium targets.
This is in line with Kodal's strategy to identify value-accretive strategic mineral opportunities in West Africa.
“Lithium has become a huge investment story and we are keen to apply our extensive West African knowledge to begin development in what we believe is a globally significant new lithium province,” says CEO Bernard Aylward.
He adds that there are known lithium occurrences across the company’s 500 km2 Bougouni lithium project, which both de-risks the exploration phase and accelerates progress towards the potential declaration of a maiden Joint Ore Reserve Committee-compliant mineral resource estimate.
“Importantly, Kodal has been able to acquire access to identified targets for a very low entry cost, and we will seek to ensure maximum possible expenditure into the ground so we can demonstrate the true value of these projects as quickly and efficiently as possible.”