African Battery Metals PLC Commencement of Cobalt Exploration Programme (8450C)
25 January 2018 - 6:00PM
UK Regulatory
TIDMABM
RNS Number : 8450C
African Battery Metals PLC
25 January 2018
25 January 2018
African Battery Metals plc
("ABM" or the "Company")
Commencement of Cobalt Exploration Programme
African Battery Metals Plc, the AIM quoted African focused
exploration company, is pleased to announce the commencement of its
exploration programme at its recently acquired cobalt-copper
properties in the Democratic Republic of the Congo ("DRC").
Highlights:
-- Initial exploration programme is set to commence on 29 January 2018;
-- First phase exploration is likely to include geophysics, soil
sampling, pitting, trenching and drilling;
-- ABM will provide market updates as the exploration programme advances
As announced on 08 December 2017, ABM acquired the rights to 70
per cent of a cobalt-copper licence in the DRC called Kisinka and
an option over a second licence called Sakania. Kisinka, which is
situated within 30km of Lubumbashi, the regional capital, is close
to seven existing large cobalt-copper mines and numerous small
scale operations. Kisinka is on the Roan, the geological sequence
which hosts most of the DRC's cobalt and copper and is currently
being mined by small scale mining operations selling cobalt and
copper concentrate to local smelters. A number of grab samples have
been collected from the small-scale miners' pits on the Kisinka
cobalt licence by an independent geologist, who has 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's proposed work programme is scheduled to start on or around
29 January 2018.
This programme will also seek to confirm the cobalt
prospectivity of the second cobalt licence, Sakania, with a view to
determining whether ABM should exercise its option.
During this period, the ABM team will also investigate a number
of other available cobalt licences, with a view towards further
expansion in due course.
The proposed Kisinka exploration programme may be expanded,
subject to favourable initial exploration results.
Roger Murphy, CEO of ABM, commented:
"Our initiative into cobalt marks a significant step towards the
Company's transition into the battery metals space. This is an area
that is driven by an increasing global commitment to more efficient
and environmentally sustainable energy usage, especially in the
automotive industry.
"We have already secured one licence in close proximity to at
least seven other existing large-scale operations and have the
option to acquire another. Our recent acquisitions has already
transformed the Company and we now have the potential to develop a
cobalt-copper project in the centre of the world-class Katangan
Copperbelt, which hosts approximately 50 per cent of the world's
cobalt resources."
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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