Business
Commencement of Cobalt Exploration Programme
Commencement of Cobalt Exploration Programme.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8450C African Battery Metals PLC 25 January 2018 \n\n \n25 January 2018\nAfrican Battery Metals plc\n(\"ABM\" or the \"Company\")\nCommencement of Cobalt Exploration Programme\nAfrican 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\").\nHighlights:\n· Initial exploration programme is set to commence on 29 January 2018;\n· First phase exploration is likely to include geophysics, soil sampling, pitting, trenching and drilling;\n· ABM will provide market updates as the exploration programme advances\nAs 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). \nABM's proposed work programme is scheduled to start on or around 29 January 2018.\nThis 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.\nDuring this period, the ABM team will also investigate a number of other available cobalt licences, with a view towards further expansion in due course.\nThe proposed Kisinka exploration programme may be expanded, subject to favourable initial exploration results.\nRoger Murphy, CEO of ABM, commented: \n\"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 gl...