Sakania is over 200km to the SE of Lubumbashi and distant from the traditional cobalt copper mining areas of Katanga. It was identified because it is currently being targeted by artisanal miners who very frequently provide the first evidence of mineralisation. Sakania represents a very low-cost option to be a first mover in a new prospective area.
The licence is in a prospective district where artisanals have been reported to be active. The Company has delayed sending its geologists as the volume of project generation/evaluation has meant that the Company’s resources have been diverted.
ABM has agreed the right to purchase 70% of the licences for $100,000 in two tranches.