43 holes have been completed in the ongoing program at the Kipushi Cobalt-Copper Tailings Project in the Democratic Republic of Congo.
At the Kitwe Tailings Project in Zambia, the 114-hole aircore drill program is complete with the samples ready to be despatched to the lab for assay.
Drilling results will be used to establish JORC-compliant resources at both projects and for negotiations with strategic partners and off-takers.
READ: Cape Lambert Resources director shows faith in battery metals strategy with on-market purchases
Cape Lambert’s chairman Tony Sage recently visited Korea to meet battery mineral users such as POSCO (KRX:005490), LG and Samsung as well as other smaller users.
He noted that demand for battery minerals in Korea is high driven by the perceived risk of market domination by the Chinese similar to the rare earths market.
As a result, Korean companies are seeking direct supply options for their desired battery minerals.