Cape Lambert Resources Ltd (ASX:CFE) has commenced drilling at its Kipushi Cobalt-Copper Tailings Project in the Democratic Republic of Congo.
The 166-hole program will be used to estimate a JORC-compliant resource with the project expected to be completed in mid-October 2018.
Additionally, a 120-hole program has also commenced at the Kitwe Tailings Project in Zambia, also aimed at establishing a JORC resource.
READ: Cape Lambert Resources receives updated study for cobalt-copper project
Cape Lambert’s chairman Tony Sage said: “I am very pleased that drilling works have finally commenced at the Company’s projects in DRC and Zambia, we look forward to Mineral Resource estimates being established for both projects.”
Significantly, the results from the drilling will be used to finalise all current negotiations with strategic partners and off-takers.
Tony Sage visits potential partners in Korea
Sage recently visited Korea meeting battery mineral users such as POSCO (KRX:005490), LG and Samsung as well as other smaller users.
He noted that demand for battery minerals in Korea is high and it is driven by the perceived risk of market domination by the Chinese similar to the rare earths market.
As a result, Korean companies are seeking out direct supply options for their desired battery minerals.