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Thursday 25 January, 2018

African Battery

Commencement of Cobalt Exploration Programme

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
 
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