African Battery Metals (LSE:ABM) rose 5.6pc to 0.4p on Friday morning after announcing the discovery of a large anomalous zone for copper at its Kisinka project in the Democratic Republic of Congo (DRC). The business said the 7km area was identified by preliminary XRF analysis on 663 field samples from the copper-cobalt asset.
Critically, the zone is related spatially to the undifferentiated Roan horizons within Kisinka’s 53km2 licence area. The Neoproterozoic Roan Group of Central Africa is host to the world’s largest and highest-grade sedimentary rock-hosted copper-cobalt deposits. These are found within the copper belts of Zambia and the DRC.
African Battery will now complete further analysis of its copper and cobalt sampling results, which were collected last month. The company’s executive director Paul Johnson called Friday’s discovery a ‘welcome result’ for the business at such an early stage of its sampling programme.
‘The potential significance of this large anomalous zone makes this a high priority prospect for the Company,’ he added. ‘Initial exploration in 2018 had failed to pick up significant signs of any mineralisation, and so this appears to be a positive change in fortunes.’
African Battery committed to progressing Kisinka in March as part of an ongoing strategic and operational review aimed at reorganising the firm. This work has also seen the business commit to progressing its copper-nickel project in Cameroon.
The organisation revealed that it had recommenced exploration activities in Cameroon towards the end of last month. It is currently completing a pit excavation programme to a maximum depth of 15m per individual pit. Samples from each of these pits will be tested in South Africa following completion of fieldwork and used to produce a database of prospect information complementing historical work carried out on site.
African Battery is testing for cobalt and nickel mineralisation at depth to reflect work conducted by Geovic Mining at its nearby licences in the area. This demonstrated that mineralised horizons were below 6m. Specifically, the company wishes to test the theory that its licence interests show geological similarity to the nearby Nkamouna deposit. Here, Geovic published a NO 43-101-compliant total measured, indicated, and inferred mineral resource of 323Mt at 0.21pc cobalt, 0.61pc nickel, and 1.26pc manganese.
Author: Daniel Flynn
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