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Shares of Kodal Minerals (LON: KOD) are rising on Thursday after the company said the Dabakala Concession in the Ivory Coast has demonstrated a high-grade geochemical anomaly.
Geochemical sampling continues to return high-grade surface samples at the new discovery zone, with new assay results up to 1.97 grams per tonne of gold.
Kodal's infill sampling has confirmed continuity of high-grade gold anomalism extending for over 11km and surface width up to 3km.
At the Nielle Concession in Ivory Coast, aircore and reverse circulation (‘RC') drilling has been completed, with all samples dispatched to the laboratory for gold analysis.
Meanwhile, at the Fatou Prospect in Mali, the RC drill rig is secured, with drilling expected to commence before the end of June.
Bernard Aylward, CEO of Kodal Minerals, commented: “We are making great progress with our gold exploration programmes in Côte d'Ivoire. The wide-spread, consistent surface gold anomalism at Dabakala is an enticing prospect with multiple newly defined gold trends in a previously unexplored region.
“We are excited to undertake the reconnaissance drilling here to determine the potential for primary gold mineralisation to be discovered. In addition, our work at the Nielle Concession has targeted a strong zone of gold mineralisation identified from earlier work and our geologists have reported encouraging information from the drilling chips.”
Kodal's share price is currently up 6.15% at 0.39p.
Kodal Minerals shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Kodal Minerals shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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