African Battery Metals PLC (LON:ABM) has announced that it has restarted exploration activities at its Kisinka Copper-Cobalt project in the Democratic Republic of Congo with immediate effect following a detailed review of historic exploration.
The AIM-listed battery metal exploration and development company said, in order to protect and preserve its working capital, the exploration programme will adopt a staged approach with initial wide-area exploration focused on identifying areas of anomalous copper and cobalt mineralisation.
This will be followed by follow up drilling if appropriate drill targets present themselves.
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The company added that the initial programme will comprise of termite mound sampling across the Kisinka license area, with X-ray fluorescence testing conducted on site, following which the results will be assessed and mapped after comparison with available structural and geophysical data.
It said further reports to market will be provided as and when material developments occur.
Paul Johnson, African Battery Metals’ executive director said that “after the challenges in late 2018 and the subsequent refinancing restoring the Company's financial position, it is extremely positive to be focused back on the advancement of our business interests through exploration.”
He added: “Alongside the Kisinka project we are pursuing a number of existing and new initiatives seeking the highest impact for shareholders and seeking to punch above our weight utilising our now robust financial position in a measured and disciplined manner."