Mineral exploration and development company Kodal Minerals says the Malian Ministry of Mines and Petroleum has accepted a feasibility study over the Bougouni lithium project, for which a mining licence application has been submitted.

The Ministry confirmed that no further technical and financial meetings are required prior to mining licence approval.

The Directorate Nationale de la Géologie et des Mines (DNGM) has agreed the new mining licence area and new permit boundary that encompasses all resources and the proposed mining and associated infrastructure area, states Kodal.

Kodal is, however, still awaiting formal issuance of final mining licence documents. It notes that Covid-19-related restrictions have impacted on the Mali government’s processes and timing of delivery cannot be confirmed.

“The acceptance of the feasibility study, submitted in support of the mining licence application, by the Mali government is a reflection of the level of detail supplied and incorporated into the study and supports our belief in the economic potential of the project.

"The Mali government continues to be very supportive of the development of a lithium mining industry in Mali, and the progress of our permitting reflects the governmental support Kodal has received.

"Although an exact timeline cannot be given for the final approval of the mining licence application, our communication with the government will continue regularly and we will keep shareholders updated with our progress,” comments Kodal CEO Bernard Aylward.

Meanwhile, the company's gold assets in Mali and Côte d’Ivoire have attracted interest from investors and other exploration and development companies.

The portfolio of gold assets has been maintained in good standing and the tenure has been refreshed where possible.

"The projects have been reviewed by our geological team and a strategy for further exploration has been developed for the Nangalasso project, in Mali, and the Dabakala project, in Côte d’Ivoire.

Nangalasso’s project review has highlighted a 5 500 m gold anomalous trend with intersections including 21 m at 1.25 g/t gold, including 3 m at 7.85 g/t gold.

The Dabakala project has an extensive surface geochemical anomaly extending for 8 km in strike length in a new region with classical Birimian gold geological setting and structures.