By Oliver Griffin

Kodal Minerals PLC (KOD.LN) said Tuesday that drilling has defined a new gold anomaly at the joint venture Nielle Exploration Program in Ivory Coast, returning grades of up to 8.28 grams of gold per ton.

The mining company, which has two joint ventures in the Ivory Coast, of which the Nielle Exploration Program is shared with Resolute Mining Ltd. (RSG.AU), said that the results warranted further exploration on the Nielle mining license.

The company also said that Newcrest Mining Ltd. (NCM.AU) has given notice of its intention to withdraw from the Dabakala joint venture--Kodal Mineral's second in the Ivory Coast--leaving Kodal Minerals owning 100% of the license.

Kodal Minerals said it is now looking at opportunities for this landholding, which include direct geochemical sampling, or entering into further joint ventures.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

February 20, 2018 03:42 ET (08:42 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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