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Haneti Nickel project - Exploration Update
Haneti Nickel project - Exploration Update.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6855Z African Battery Metals PLC 21 May 2019 \n\n21 May 2019\n \nAfrican Battery Metals plc (\"ABM\" or the \"Company\")\nHaneti Nickel project - Exploration Update\n \nAfrican Battery Metals plc (LON:ABM) the AIM listed battery metal exploration and development company is pleased to note the announcement made by Katoro Gold plc (LON:KAT)(\"Katoro\") on 20 May 2019 providing an update in respect of the Haneti Nickel Project (\"Haneti\" or the \"Project\").\nABM has a 25% interest in Haneti with a right to increase to a 35% interest through a cash payment to Katoro of £25,000, until 15 May 2020.\nHighlights:\n· Haneti is considered by Katoro to be a highly prospective high-grade nickel sulphide asset with a number of high priority exploration targets based on historical work undertaken;\n \n· Within their announcement of 20 May 2019 Katoro confirmed results from a soil sampling programme undertaken at the Project with 1,500 soil samples analysed at an independent laboratory;\n \n· Katoro also notes the results have confirmed and extended the strike length of the previously identified high priority ultramafic exploration targets and identified an additional ultramafic target, previously unknown;\n \n· Katoro will utilise the findings to inform further exploration work, including defining a maiden drill programme.\n \nPaul Johnson, Executive Director of African Battery Metals commented: \"I am delighted to be working with the team at Katoro and congratulate them on an exceptionally good start to the 2019 exploration programme at Haneti. \nIn particular it is notable that the work undertaken has reconfirmed and extended high-profile target areas and also identified a further previously unknown ultramafic target. \nThis triple positive outcome is exciting for ABM as Joint Venture partners with Katoro at Haneti and also for ABM as significant shareholders in Katoro Gold plc itself.\"\n \nAbout the Haneti Nickel Project\nABM acquired a 25% interest in Haneti on 15 May 2019 following the exercise of an option originally secured in March 2019. In addition, ABM has the right to acquire a further 10% interest in Haneti through a payment of £25,000 to Katoro Gold, up to 15 May 2020. Kator...