TIDMABM
RNS Number : 3233F
African Battery Metals PLC
20 February 2018
20 February 2018
African Battery Metals plc
("ABM" or the "Company")
Update on Cobalt Exploration Programme
African Battery Metals Plc, the AIM quoted African focused
exploration company, is pleased to provide an update on its
exploration programme at its recently acquired cobalt-copper
interests in the Democratic Republic of the Congo ("DRC").
Highlights:
-- Commencement of field exploration and mapping at Kisinka;
- Completion of satellite imagery remote sensing report;
- Identification of a number of targets from the report which
are being followed up with ground exploration activities;
- Start of a cost effective and efficient augur drilling programme;
- Several areas of stunted vegetation noted on Kisinka licence, a strong indicator of potential mineralisation; and
- Commencement of grab sampling programme.
-- Deadline to exercise option to acquire second licence in DRC,
Sakania (PR12729), extended from 31 January 2018 to 30 April
2018.
Roger Murphy, CEO of ABM, commented:
"We are excited to be on the ground and exploring at Kisinka,
starting with a cost effective systematic exploration programme
which I am confident will deliver encouraging results.
Kisinka provides us with our first exposure to cobalt-copper
projects in the centre of the world-class Katangan Copperbelt,
which hosts approximately 50 per cent of the world's known cobalt
resources. The area surrounding Kisinka is home to at least seven
mines which whose cumulative cobalt output represents a significant
proportion of cobalt production globally. We believe that Kisinka
is well placed to add to this and look forward to updating the
market upon initial results of our exploration programme in the
near-term.
Whilst we continue to carry out due diligence on the Sakania
option, I am pleased to report we are reviewing additional
cobalt-copper licences, some of which are closer to Kisinka.
In my view there is no other area of the world with the cobalt
resource and simple non-arsenic metallurgy to supply the very
strong demand for cobalt forecast by most experts, some of who are
calling for a tripling in demand over the next ten years. We
strongly believe ABM is well positioned to be a part of this future
demand."
Cobalt exploration in the DRC
Further to the Company's announcement of 25 January 2018, ABM's
exploration programme on Kisinka (PR12728) commenced on 28 January
2018. Kisinka is situated 30 kilometres east of Lubumbashi, the
regional capital, close to seven existing large cobalt-copper mines
and numerous small scale operations (fig.1). Kisinka is on the
Roan, the geological sequence which hosts most of the DRC's cobalt
and copper that is currently being mined by small scale mining
operations selling cobalt and copper concentrate to local smelters.
Prior to ABM's acquisition of Kisinka, a number of grab samples
were collected from small-scale miners' pits on the licence by an
independent geologist, who reported grades of up to 2.5 per cent.
cobalt from a Niton XRF field analyser (the standard equipment used
in the field for such analysis). ABM has commenced a grab sample
programme to follow up on these early indications of cobalt
mineralisation.
http://www.rns-pdf.londonstockexchange.com/rns/3233F_1-2018-2-19.pdf
Fig.1. Location of Kisinka (12728 PR) and regional mines circled
in pink
Since the commencement of exploration work, a number of
clearings have been observed on Kisinka (fig.2), with stunted
vegetation. These clearings in the normally denser vegetation are
widely used in mineral exploration as they are a sign of soil
contamination caused by base metal mineralisation.
http://www.rns-pdf.londonstockexchange.com/rns/3233F_2-2018-2-19.pdf
Fig.2 stunted vegetation clearings in denser vegetation on
Kisinka
Auger Programme
ABM has commissioned an auger programme on Kisinka. The
equipment is on site and augering will start this week. Augering is
a fast, efficient and highly cost effective means of extracting
material from up to 20 metres below surface and therefore closer to
the primary rock, which hosts the mineralisation. Depending on the
ground conditions, augering is an attractive exploration activity
as up to 100 metres per day can be drilled. The targets to be
explored by ABM's auger programme are:
-- The Grand Conglomerate (fig. 3) which occurs twice as a
duplication along the entire strike length of Kisinka. The Grand
Conglomerate hosts the world-class Kamoa discovery made by Ivanhoe
elsewhere on the DRC Copper Belt;
-- A series of structural dislocations and other lineaments
identified by the remote sensing programme that are often
associated with enhanced mineralisation; and
-- Identified stunted vegetation clearings.
http://www.rns-pdf.londonstockexchange.com/rns/3233F_3-2018-2-19.pdf
Fig. 3 Kisinka licence with Grand Conglomerate at contact
between pink & dark brown rocks
Additional licence opportunities in the DRC
ABM has been approached by two groups with potentially
attractive cobalt-copper licences available on similar financial
terms to those of Kisinka and Sakania. Both licences have evidence
of copper-cobalt mineralisation and both have the advantage of a
period of a few months to assess the projects before any
commitments are made and any payments are required. ABM is
conducting due diligence work on both at the moment.
Sierra Leone
Further to previous announcements of ABM's intention to seek a
farm-out or JV partner for the further development of its wholly
owned Ferensola Gold Project ("FGP") in Sierra Leone, ABM is
pleased to update that one interested party is currently carrying
out due diligence on Ferensola under an NDA (non-disclosure
agreement), with a second interested group expected to be provided
with access to the project's information shortly. ABM will provide
regular updates as the situation progresses in due course.
**Ends**
Further enquiries
African Battery Metals plc
Roger Murphy (CEO) +44 (0) 20 7583 8304
WH Ireland Limited (Nominated Adviser and Broker)
Tim Feather / James Sinclair-Ford +44 (0) 20 7220 1666
SP Angel Corporate Finance (Broker)
Ewan Leggat +44 (0) 20 3470 0470
Blytheweigh (Public Relations)
Camilla Horsfall/ Nick Elwes +44 (0) 20 7138 3224
Madini (Financial and Technical Adviser)
Iain Macpherson / Ilja Graulich +27 (0) 11 469 0629
Notes to Editors
About African Battery Metals Plc
African Battery Metals ("ABM") is an AIM-listed, African focused
exploration company developing projects in strategic metals,
including metals used in the manufacturing of batteries. ABM's
strategy is to leverage its access to a significant project
pipeline, in order to become a substantial operator in this market
sector.
The Company's objective is to effectively and rapidly advance
its portfolio of cobalt right through to production stage, taking
advantage of the vast local and technical expertise of its
management team and advisors. ABM may also add to its portfolio not
only cobalt-copper and gold, but potentially also in other battery
metals.
Wherever ABM explores and operates it always does so using the
highest degree of integrity and ethical standards.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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