Update on Ivory Coast Project

RNS Number : 1118E

African Battery Metals PLC

16 October 2018

 

African Battery Metals plc / EPIC: ABM / Market: AIM

16 October 2018

African Battery Metals plc ("ABM" or the "Company")

Update on Ivory Coast nickel, cobalt and chrome Project

African Battery Metals Plc, the AIM listed African focused exploration company developing projects in strategic battery metals, is pleased to announce that it has commenced geological work on its recently acquired 380 sq km Lizetta II nickel, cobalt and chrome exploration project in Ivory Coast ("the Project"). 

Overview

·     ABM commissioned a site visit by a technical team, led by a highly qualified exploration geologist to prepare for a structured field exploration programme

·     Additional historic technical data has been identified during the visit and is in the process of being acquired which will augment the 2017 Watts Griffis McOuat, ("WGM") of Canada, independent consultancy's results already acquired by the Company.

·     WGM's 2017 work, re-confirmed previous work that showed the occurrence of up to 0.25% cobalt, 0.87% nickel and over 1% chrome in surface anomalies

·     The major surface anomaly (see figure 1) is open to the South-South-East ("SSE") and provides potential to expand the mineralisation's footprint

·     A supplementary surface sampling programme is planned to explore the extension of the mineralisation anomaly to the South-South-East, within the Project, as well as to follow up on unexplored areas, with the aim of identifying areas potentially suitable for reverse circulation drilling ("RC") identified from surface anomalies

References to figures relate to the version visible in PDF format by clicking the link below:

http://www.rns-pdf.londonstockexchange.com/rns/1118E_1-2018-10-15.pdf

ABM CEO, Roger Murphy, said, "Work has commenced on the Lizetta II Project in the Ivory Coast, with the aim of following up on historical and past indications of nickel, cobalt and chrome soil anomalies.  We are pleased to have identified additional historical data which reconfirms the prospectivity of the Project, and to have established that the Project's mineralisation is open to the SSE. Planning of field activities is progressing well, and we will brief the market as soon as these activities have commenced."

"The Project was recently acquired as part of the Regent Resources Capital Corporation transaction, which saw ABM gain highly supportive and proven mining professionals, including Stephen Dattels and Ian Stalker, as shareholders.  The work marks the next stage in our development as we look to work closely with all stakeholders in developing the current asset base, which includes cobalt and nickel projects in the Cameroon and the DRC, as well as identifying additional opportunities to cement our growth strategy and build value."

DATA VERIFICATION

The scientific and technical information included in this press release is based upon information prepared and approved by Michael Booyens (Pr Sci Nat, MGSSA) on behalf of ABM.  Mr Booyens is registered as a Professional Natural Scientist (400047/05) in the field of Geological Science in terms of the South African Natural Scientific Act (Act 27 of 2003) and a member of the Geological Society of South Africa (60075).  He is independent of ABM, its Directors, Senior Management and Advisors. Mr Booyens visited the Lizetta II concession during September 2018. Mr Booyens consents to the inclusion of the information in the form and context in which it appears.

**Ends**

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

For further information please visit https://www.abmplc.com/ or contact:

African Battery Metals plc
Roger Murphy (CEO)	[phone]
SP Angel Corporate Finance (Nomad and Broker)
Ewan Leggat	[phone]

Notes to Editors:

ABM is an AIM listed, Africa focused, resource company exploring for the key metals used in next generation batteries that fuel the new electric vehicle revolution. The Board and team of advisors, who have proven expertise in African exploration, mining and project generation, have identified an opportunity to utilise the Company's position to become a leader in the London market for investors to gain exposure to the battery metal commodity suite, particularly cobalt, lithium, copper and nickel. 

 

END

 

 

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