Kazakhstan Potash Corp Ltd (ASX:KPC) is expanding its portfolio beyond potash in Kazakhstan to include a lithium-tantalum-tin project in the Democratic Republic of Congo.
KPC has entered into an agreement to acquire 60% of Société MCC Resource SARL (MCC), which holds the prospecting licence.
The 88 square kilometre prospect is in the world-class lithium-tantalum-tin pegmatite region of Manono and is 10 kilometres northwest of the Manono and Kitotolo deposits.
Asset acquisition strategy
This agreement forms part of KPC’s asset acquisition strategy to expand its exploration portfolio beyond its existing Kazakh potash exploration and development licences.
The company has elected to target this area of the DRC due to continuing growth in demand for lithium worldwide, particularly in China.
Preliminary exploration underway
MCC has started preliminary exploration activities including remote sensing, geological mapping, trenching and pitting to delineate the surface extension of the pegmatite bodies.
Artisanal mining activities for tin, niobium and tantalum are still active in the region.
KPC, as project operator, plans extensive soil sampling, shallow auger drilling and airborne magnetic surveys over the licence.
It will follow-up Identified lithium targets with delineation diamond core drill testing.
Joint venture planned
The company also plans to enter into a joint venture with Simon Cong to pursue other opportunities particularly in relation to lithium and cobalt.
Mr Cong is the vendor of MCC and has been active in the exploration and mining sector in the DRC for many years.
The proposed joint venture will see KPC holding 51% of the equity and Mr Cong 49%.