African Battery Metals (LSE:ABM) outlined the next steps to be taken at its Kisinka Copper-Cobalt project in an update on Friday. Exploration recommenced at the project in April now following the firm successfully refinancing earlier in the year. The company reports current field activities were completed last week with a total of 663 termite mound samples being collected across the whole license area. X-ray fluorescence spectrometry (XRF) will now be carried out on the samples to identify copper and cobalt mineralisation.
In order to protect and preserve the company's working capital, African Battery has adopted a staged approach with initial wide area exploration focussed on identifying areas of anomalous copper and cobalt mineralisation, to be followed by follow up drilling if appropriate drill targets present themselves.
Kisinka is a 53 sq km exploration licence located in an established world class producing cobalt district in the Democratic Republic of Congo (DRC).
The License has 8km of strike along the Roan group of rocks, which host the majority of the DRC’s copper and cobalt mines. There are a number of large cobalt-copper mines in the area, both on strike and in the same rock structure to the west. African Battery is due to pay a second tranche of $100,000 which will secure a 70pc interest in the license.
Paul Johnson, Executive Director of African Battery Metals commented:
"Our team coped well with difficult on-site logistics as grass levels remained high after late rains, and we recruited additional casual support staff to ensure timely completion of the field phase of activities.
This initial programme has been carried out with speed and efficiency and bodes well for our ability to operate effectively in the DRC. We look forward to reporting results as these become available."
Author: Stuart Langelaan
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