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African Energy Metals Expands Land Holdings to 200 km2 Highly Prospective for Lithium, Tin, Tantalum, and Rare Earths in Manono Region DRC
Vancouver, British Columbia--(Newsfile Corp. - July 5, 2022) - African Energy Metals Inc. (T...
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[{"type":"text","content":"African Energy Metals Expands Land Holdings to 200 km2 Highly Prospective for Lithium, Tin, Tantalum, and Rare Earths in Manono Region DRCVancouver, British Columbia--(Newsfile Corp. - July 5, 2022) - African Energy Metals Inc. (TSXV: CUCO) (FSE: BC2) (OTCQB: NDENF) (WKN: A3DEJG) (\"African Energy Metals\" or the \"Company\") is pleased to announce the Company has acquired an additional 170 kms² of concessions in the prolific Manono region of the DRC with high prospectively for lithium, tin, tantalum, and rare earths bringing the Company's combined land holdings in the region to 200km². The Manono region is the newest and is projected to become the largest new mineral play in the DRC. Manono Lithium, Tin, Tantalum, Rare Earths ProjectThe project (the \"Project\") is comprised of one contiguous permit covering 170 kms² and is situated in Tanganyika province, Manono district in the territory of Kiambi, in the southeast of the DRC. The permit is an advanced stage small mining permit. The concession is contiguous to the Tantalex Resources (\"Tantalex\") lithium project and is on the same NE/SW Trend as Tantalex and the AVZ Minerals Limited (\"AVZ\") world class lithium rich LCT (lithium, caesium, tantalum) Roche Dure discovery reported at 400 million tons grading 1.65% Li2O (JORC complaint Mineral Resource Estimate, MSA Group, May 2019). There appears to be a defined pegmatite corridor running from the AVZ Roche Dure deposit through the Tantalex concession and continuing onto the Project. (See enclosed map from the DRC Mining Cadastre website). Tantalex has announced it is planning to perform up to 23,000m of drilling in 2022 on their Manono projects.Figure 1To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/3145/129967_7f811eff44181bdc_001full.jpgAfrican Energy Metals entered into a Rights Assignment Agreement with AuClair ECC SASU (AuClair) pursuant to which AuClair has assigned to African Energy Metals 100% of AuClair's interest in a binding letter agreement with E29 Resources Sarl (E29) to enter a 70/30 joint venture on the Project with E29. The shareholders of AuClair are arms length to the Company. In consideration of the rights assignment, African Energy Metals will assume all rights and obligations under the joint venture with E29, and issue 2,500,000 common shares of A...