Kodal Minerals is the 100% owner of the 360.6km2 Korhogo concession located in north central Cote d’Ivoire, approximately 250km north of the capital city Yamoussoukro. The concession was granted on 8 January 2014 for a three-year term, with additional three year renewals available.
The exploration completed at Korhogo to date is at a very early stage, with no previous modern exploration completed prior to the grant of the licence. Initial surface geochemical sampling had been completed by its previous owner and this surface geochemical sampling programme was designed to test multiple targets and assess priority areas on a very wide-spaced 1km x 200m reconnaissance grid. This surface sampling has consisted of conventional surface sampling, with a 2kg sample collected from approximately 50cm below surface and a series of termite mound samples. A total of 644 samples have been collected and analysed at SGS Laboratories, Bamako by Fire Assay for gold only. The total geochemical sampling for the licence is 933 samples with a range of assay results from below detection to a maximum of 92ppb Au.
The interpretation of the geochemistry indicates that the programme has defined four anomalous gold zones:
- Zone 1 – 3.5km x 1.2km anomaly defined with values up to 39ppb Au and remains open along strike. This anomaly is associated with a zone of shearing and geological contact between metasedimentary units and intrusive granodiorites.The aeromagnetic data is indicating a continuous structure that is consistent with the geochemistry.
- Zone 2 – 3km x 2km anomaly defined with values up to 92ppb Au.This zone is associated with a northeast fault zone and areas of aeromagnetic anomaly.The geochemical anomaly is consistent with the interpreted geology and geophysics.
- Zone 3 – 2km x 1km anomaly defined with values up to 36ppb Au.This anomaly is related to a shear zone and potential contact zone between granodiorite and metasediments.
- Zone 4 – 3.5km x 1km anomaly defined and remains open along strike.This anomaly is hosted within sheared granodiorite units, and may be related to the same shear zone as Zone 1.This area has identified artisanal workings and remains open along strike.