African Battery Metals plc (LON:ABM) the AIM listed battery metal exploration and development company is pleased to announce the commencement of exploration activities at the Company’s Cobalt-Nickel project (the “Project”) in Cameroon.
As part of the Company’s Strategic and Operational Review launched after the restructuring and refinancing exercise earlier this year a continuing commitment to the Company’s Cameroon interests was announced by the Company on 3 April 2019 and can be viewed through the following link:
Following consultation with the Company’s technical team and advisers, exploration work has now recommenced initially targeting cobalt-nickel mineralisation at certain prioritised targets within the Company’s licence areas.
Paul Johnson, Executive Director of African Battery Metals commented: “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.
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.”
1 Source: NI 43-101 Technical Report, Geovic Mining Corp by SRK Consulting (US) Inc., 02 June 2011
20 May 2019