Business
Update on Cobalt Exploration Programme
Update on Cobalt Exploration Programme.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3233F African Battery Metals PLC 20 February 2018 \n \n\n \n20 February 2018\nAfrican Battery Metals plc\n(\"ABM\" or the \"Company\")\nUpdate on Cobalt Exploration Programme\nAfrican Battery Metals Plc, the AIM quoted African focused exploration company, is pleased to provide an update on its exploration programme at its recently acquired cobalt-copper interests in the Democratic Republic of the Congo (\"DRC\").\nHighlights:\n· Commencement of field exploration and mapping at Kisinka;\n \n- Completion of satellite imagery remote sensing report; \n- Identification of a number of targets from the report which are being followed up with ground exploration activities; \n- Start of a cost effective and efficient augur drilling programme;\n- Several areas of stunted vegetation noted on Kisinka licence, a strong indicator of potential mineralisation; and\n- Commencement of grab sampling programme.\n \n· Deadline to exercise option to acquire second licence in DRC, Sakania (PR12729), extended from 31 January 2018 to 30 April 2018.\nRoger Murphy, CEO of ABM, commented: \n\"We are excited to be on the ground and exploring at Kisinka, starting with a cost effective systematic exploration programme which I am confident will deliver encouraging results. \nKisinka provides us with our first exposure to cobalt-copper projects in the centre of the world-class Katangan Copperbelt, which hosts approximately 50 per cent of the world's known cobalt resources. The area surrounding Kisinka is home to at least seven mines which whose cumulative cobalt output represents a significant proportion of cobalt production globally. We believe that Kisinka is well placed to add to this and look forward to updating the market upon initial results of our exploration programme in the near-term. \nWhilst we continue to carry out due diligence on the Sakania option, I am pleased to report we are reviewing additional cobalt-copper licences, some of which are closer to Kisinka.\nIn my view there is no other area of the world with the cobalt resource and simple non-arsenic metallurgy to supply the very strong demand for cobalt forecast by mos...