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.