Proactive Investors - Run By Investors For Investors

African Battery Metals begins exploration work at Cameroon copper-nickel project

A pit excavation programme is now underway as African Battery Metals look to find out whether its project shares similarities with the nearby Nkamouna deposit
cameroon desert
Bosses believe positive results could have a ‘dramatic’ impact on the project’s value

African Battery Metals PLC (LON:ABM) has kicked off exploration work at its cobalt-nickel project in Cameroon.

Starting immediately, the AIM company is to undertake a pit excavation programme, digging down to up to 15 metres.

READ: ABM prepares to analyse samples from DRC copper-cobalt project

The pitting programme will include mapping and sampling of each excavated pit, which will add to the data from historical work at the site.

African Battery bosses are using the programme to try to figure out if their project demonstrates similarities to the nearby Nkamouna deposit, which is host to an estimated 323mln tonnes of ore at 0.21% cobalt, 0.61% nickel and 1.26% manganese.

The plan is to finish the excavation work before the onset of the heavy rains later in the year, with the samples to be sent to a laboratory in South Africa for analysis.

Results could have ‘dramatic’ impact

“I am pleased to announce the recommencement of exploration field work in Cameroon, which follows the recommencement of exploration at the Kisinka project in the DRC announced in April,” said executive director Paul Johnson.

“As with Kisinka, we have opted to focus our initial exploration spend in a highly targeted manner, answering a simple exploration question and namely, do the identified target areas have geological similarity to the nearby Nkamouna deposit?”

“If the answer is positive, the impact on the value of the project to the company could be dramatic and certainly disproportionately beneficial against the underlying modest cost of conducting the planned pitting and sampling programme.”

African Battery shares rose 5.6% to 0.48p on the back of Monday’s announcement.

View full ABM profile View Profile

African Battery Metals Plc Timeline

Related Articles

South America's prospective lithium triangle extends upwards from Argentina, across Chile and to Bolivia
January 31 2019
Galan is named for the Cerro Galán volcano system near its Argentinian ground.
January 30 2019
The company is expanding Cue’s existing gold deposits as it defines the newly-discovered Lake Austin North gold system.
The high-grade Aucu project on a Kyrgyzstan map
January 22 2019
White Cliff Minerals has a portfolio of projects, including a high-grade gold project in the Kyrgyz Republic and nickel-cobalt battery minerals projects in Western Australia. The company is undertaking a review of its assets, hoping to determine how it can maximise value and save on costs.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use