The explorer told investors that geochemical sampling completed in December saw grades of up to 6.14 grams per tonne and an extensive surface gold anomalism has been defined in the east of the concession.
It extends for over 10 kilometres of strike length, the company statement highlighted.
Additionally, it noted that extensive artisanal mine workings were identified during the sampling programme and the anomalism extends beyond and parallel to the workings.
The company is planning a field inspection of the anomalism later this month.
Chief executive Bernard Aylward described the sampling results as “very exciting” for Kodal.
“The exploration is currently at an early stage with sampling completed on a wide spacing in an under-explored region of Côte d’Ivoire,” Aylward said.
“The consistency of the gold anomalism, the geological setting and the presence of artisanal workings highlight the potential of this project for Kodal as we continue to develop our gold portfolio and demonstrate the value of the assets.”
At the same time, the company added that a field reconnaissance team is at the Fatou project to review historical drilling and proposed drill hole sites.
Aylward added: “Kodal is preparing for a very busy drilling and field exploration season this year, and our priorities remain to define JORC Compliant Mineral Resources at the Fatou Project, undertake drilling at the Nielle Project, and undertake field review and reconnaissance drilling at Dabakala to provide further geological information on the extensive gold anomalous zone that we have identified.”
The Kodal chief meanwhile noted that the company is maintaining regular communications with the Mali Transition Government to monitor the progress of the mining licence application for the Bougouni Project, the company’s flagship lithium project.
“We will communicate developments to the market as soon as there are updates to share with investors,” he said.
“We continue to regard our Bougouni Lithium Project as our key focus and believe it will be the company’s first opportunity to develop a mining operation in Mali. I look forward to providing updates when possible.”