By Abdul Rahman Bangura–
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Fatou gold project, has a chronological compliant NI 43-101 reserve of over 350 000 oz which is anticipated to improve, founded on a funded nine month drilling programme. In concurrency with the obtainment, Kodal Minerals has obtained a subsidiary-level
project funding undertaking from AIM-quoted Riverfort Global Opportunities Plc and Riverfort Global Opportunities PCC to provide up to US$2,500 million to finance portion of the accession, execute a major analysis crusade at Fatou and fund exploration at the firm’s extra gold projects in Mali and Côte d’Ivoire. Bernard Aylward – CEO of Kodal Minerals remarked, “This is an exciting opportunity for Kodal to acquire an advanced gold project that has immediate drill targets for testing and that complements our existing gold project portfolio in southern Mali and northern Côte d’Ivoire.
“This acquisition is part of Kodal’s strategy to demonstrate the value of our gold assets in West Africa whilst simultaneously establishing our first mining operation at our Bougouni lithium project in southern Mali.
“The funding from the investors would allow Kodal to explore rapidly our gold projects with a clear aim of defining mineral resources and demonstrating expansion and mining potential.”
The Fatou project consists of two concessions, the Fininko and Foutière concessions. The project forms a contiguous landholding exceeding 300 km2 and has been acquired through agreements with local vendors.
The project is complementary to Kodal’s existing activities in southern Mali being 100 km to the south of the town of Bougouni and only 30 km to the west of the Nangalasso Gold project.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com