Kodal Minerals signs deal for 80% stake in Asamankese Lithium Project

Kodal Minerals PLC has entered into a binding agreement with GH Geo-Consult Limited to acquire up to an 80% interest in the Asamankese Lithium Project in Ghana. The 156 km² project is located approximately 75 km from Accra, representing a strategic expansion for the company’s lithium operations within West Africa. This agreement allows Kodal to explore a site that has already shown significant potential through historical sampling.

Under the terms of the deal, Kodal has secured an initial 10% stake in the project for a payment of $300,000. The company intends to reach the 80% ownership threshold through a series of staged investments and exploration milestones over the next five years. The project area specifically includes the Amantra and Nfranta prospects, which have previously yielded high-grade results, with some samples containing up to 3.02% lithium oxide.

Kodal Minerals CEO Bernard Aylward highlighted the promising nature of the project, stating that the company is committed to implementing a systematic exploration program to fully realize the site's value. The acquisition comes as interest in Ghana’s mineral resources continues to grow, particularly for materials essential to the global transition toward renewable energy and battery technology.

The company has outlined a clear timeline for the project’s development, with diamond drilling expected to commence at the site by the end of 2026. This phased approach will allow Kodal to evaluate the geological potential of the Asamankese concession thoroughly before committing to the full capital expenditure required for long-term production and infrastructure development.