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African Battery Metals completes soil sampling at Kisinka, contemplates further deals

A cobalt land-grab is occurring in the neighbourhood of African Battery's Kisinka licence

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The cobalt price has surged in recent months

African Battery Metals PLC (LON:ABM) has now completed two auger programmes at its 53 square kilometre Kisinka permit in the Katanga Province of the Democratic Republic of Congo.

These collected soil samples along lines across the seven-to-eight kilometre length of the licence, which is highly prospective for cobalt and copper. 

WATCH: African Battery Metals initiates second tranche payment for Kisinka licence

A number of the resulting samples, after bagging, collation and preparation, are being sent to an independent laboratory in Johannesburg for assay. Subject to customs clearance these should be dispatched by June 15. Assay results will be announced as soon as they are available. 

This initial work on the licence, which is about 40 kilometres east of the city of Lubumbashi, will be followed up by a licence-wide sampling programme including geophysics and soil sampling to test for further anomalies in what is recognised as a highly prospective mineralised district, with seven producing cobalt/copper mines within 30km of the Licence. 

Further to the agreement with Mr Jean-Pierre Ndobo Mwamby, the Congolese vendor of Kisinka, African Battery Metals has now made over the second US$50,000 tranche of its committed US$100,000 payment to acquire 70% of the licence as per the original agreement.

The company has also continued to assess multiple opportunities within the battery metals arena, and with this workflow in hand has been unable to send geologists to the Sakania licence permit in the DRC. 

Accordingly, it has agreed to defer by six months the U$50,000 payment to the vendor Jean-Pierre Mwamby for the acquisition of the project into ABM. 

"We continue to be extremely busy in building a portfolio of projects focussed on the battery metals arena,” said chief executive Roger Murphy. 

“We will be submitting the first set of samples from Kisinka for independent analysis and are currently implementing further exploration initiatives across the licence to assist in quantifying its prospectivity. Concurrently, we have been evaluating multiple opportunities that we have both generated ourselves and been approached on.  We have a defined evaluation and investment process and hope to announce further updates on these in the near future."

 

 

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