AJN Resources Inc (CSE:AJN) has entered into a binding term sheet with Mining Entreprise Katanga SARLU (MEK), a limited liability company registered in Lubumbashi, Democratic Republic of Congo (DRC), to acquire a 75% indirect interest in exploration permit PR 15623 in the Manono region of the Tanganyika Province in the DRC.
The agreement will potentially extend the strike of observed lithium-bearing pegmatites on the neighbouring licence, in which AJN also has a stake .
AJN has a dominant position in the Manono region.
Permits for drilling are expected in late October for both the Kabunda and Manono NE projects.
AJN is planning between 1,000 metres and 1,500 metres of diamond drilling at Kabunda to test lithium mineralisation identified at surface.
It’s also planned between 5,000 metres and 7,000 metres of shallow reverse circulation drilling at Manono NE targeting lithium-bearing pegmatites under cover.
The company will now conduct reconnaissance mapping and sampling programmes on the new licence to better understand the extent and width of pegmatites and associated spodumene and lithium mineralisation.