African Battery Metals knuckles down at Kisinka

Exploration company African Battery Metals updated the market on its exploration programme at its recently-acquired cobalt-copper interests in the Democratic Republic of the Congo on Tuesday, confirming that field exploration and mapping at Kisinka had now begun.

The AIM-traded firm also reported the completion of a satellite imagery remote sensing report, identifying a number of targets which were being followed up with ground exploration activities.

It also started a “cost effective and efficient” augur drilling programme, adding that several areas of stunted vegetation had been noted on the Kisinka licence, which could be a strong indicator of potential mineralisation.

A grab sampling programme had also commenced.

Additionally, African Battery Metals said the deadline to exercise its option to acquire a second licence in the country at Sakania had been extended from 31 January to 30 April.

“We are excited to be on the ground and exploring at Kisinka, starting with a cost effective systematic exploration programme which I am confident will deliver encouraging results,” said chief executive Roger Murphy.

“Kisinka provides us with our first exposure to cobalt-copper projects in the centre of the world-class Katangan Copperbelt, which hosts approximately 50% of the world's known cobalt resources.”

Murphy explained that the area surrounding Kisinka was home to at least seven mines, where the cumulative cobalt output represented a “significant proportion” of cobalt production globally.

“We believe that Kisinka is well placed to add to this and look forward to updating the market upon initial results of our exploration programme in the near-term.

“Whilst we continue to carry out due diligence on the Sakania option, I am pleased to report we are reviewing additional cobalt-copper licences, some of which are closer to Kisinka.”

He added that in his view, there was “no other area” globally with the cobalt resource and non-arsenic metallurgy to supply the strong demand for cobalt forecast by most experts, noting that some were calling for a tripling in demand over the next ten years.

“We strongly believe ABM is well positioned to be a part of this future demand.”