Proactive Investors - Run By Investors For Investors

AVZ Minerals reveals high-grade lithium mineralisation at the Manono Project

Exploration target of between 400 and 800 million tonnes at 1% to 1.5% lithium.
AVZ Minerals reveals high-grade lithium mineralisation at the Manono Project
AVZ is planning an extensive drill program to commence in early Q4 2017

AVZ Minerals (ASX:AVZ) has confirmed high-grade lithium mineralisation over a strike length of four kilometres at its Manono lithium project in the Democratic Republic of the Congo (DRC).

The highlights assay results include:

- 45.74 metres at 1.59% lithium from 50.5 metres at The Mpete pegmatite; and
- 65.86 metres at 1.51% lithium from 167 metres at the Tempete pegmatite.

Assays have been received for five holes of the initial seven-hole drill program at the Manono project, which covers circa 188 square kilometres.

Importantly, three pegmatites in the Kitotolo sector have been drill tested confirming the presence of lithium, tin and tantalum mineralisation over a strike length of four kilometres.

These results support the exploration target of between 400 and 800 million tonnes at 1% to 1.5% lithium at the Kitotolo Sector alone.

Additional resources are also expected to be defined within the northern Manono Sector.

The Manono Project is currently held by AVZ Minerals (60%), a DRC State-owned enterprise (30%) and Dathomir Mining Resources SARL (10%).

AVZ is planning an extensive reverse circulation and diamond drill program to commence in early Q4 2017.

The company recently secured a commitment to raise $13.02 million from a subsidiary of Huayou Cobalt, the largest cobalt chemicals producer in China, via the issue of shares at $0.07 each.

AVZ’s share price increased by circa 271% in the past three months and was last trading at $0.115.

View full AVZ profile View Profile

AVZ Minerals Ltd Timeline

Related Articles

Chris Giles signs the Kalkaroo Native Title Mining Agreement
January 15 2019
Kalkaroo is Australia’s largest undeveloped open pit copper-gold deposit on a copper-equivalent basis.
Electric vehicles
Fri
The world-class Sonora Lithium Project in Mexico benefits from a large, scalable and high-grade resource which is indicated at over 5mln tonnes of battery grade (99.5%) lithium carbonate equivalent
Aircore drilling efforts by workers in Mali during the 2017-18 field season
November 09 2018
The company will pick up drilling at its projects which have delivered high-grade African gold.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

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