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African Energy Metals Provides an Update on Lithium, Tin, Tantalum Project in Manono DRC
Vancouver, British Columbia--(Newsfile Corp. - May 27, 2022) - African Energy Metals Inc. (T...
About this update from Magma Silver Corp.
[{"type":"text","content":"African Energy Metals Provides an Update on Lithium, Tin, Tantalum Project in Manono DRCVancouver, British Columbia--(Newsfile Corp. - May 27, 2022) - African Energy Metals Inc. (TSXV: CUCO) (FSE: BC2) (OTCQB: NDENF) (WKN: A3DEJG) (\"African Energy Metals\" or the \"Company\") is pleased to provide an update on the Manono project. Due diligence has proceeded smoothly on the project with no exceptions to date. The Company has an exclusive agreement on the Manono project. The concession is owned 100% by a private DRC company and controlled by reputable parties experienced in mining in the region. The Company does not expect to experience any title issues experienced by other parties in the region relating to the involvement of quasi-governmental agencies. The Company is commencing a Phase 1 work program consisting of soil and outcrop sampling and geological mapping. A portion of the program will be to provide assays from the pegmatite outcrops to verify the existence of lithium and to determine the grade of the exposed lithium. This program will provide drill targets to examine the overall resource potential of the concession for lithium, tin, and tantalum.About the Manono Lithium, Tin, Tantalum ProjectThe project is comprised of one Exploitation Permit covering approximately 30 sq kms and is situated in Tanganyika province, Manono district in the territory of Kiambi, in the southeast of the DRC. The concession is at about 90 km Northeast of Manono in Kiambi. It is about 440 kms aerial distance to the north of Lubumbashi. The district was heavily mined for tin going back to the early 1900's. Most recently AVZ Minerals Limited (AVZ) ($2.4B market cap) made a potentially world class lithium rich LCT (lithium, caesium, tantalum) discovery which is 30 kms due west of the African Energy Metals project. The AVZ Roche Dure Mineral Resource is reported at 400 million tons grading 1.65% Li2O and world class in scale. Contiguous to AVZ are the lithium prospects of Tantalex Resources Corporation. Based on due diligence it has been confirmed small scale tin production has already occurred on the concession. An estimated non-compliant tin resource was reported in a news release issued by the Company dated March 3, 2022. https://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00028883&issuerType=03&projectNo=03389164&do...