African Battery Metals restarts exploration at Kisinka

The AIM-traded firm said that, following a detailed review of historic exploration and targeting copper-cobalt mineralisation at the project, it had restarted exploration activities with immediate effect.

In order to “protect and preserve” its working capital, the exploration programme would adopt a staged approach, with initial wide area exploration focussed on identifying areas of anomalous copper and cobalt mineralisation, to be followed by follow-up drilling if appropriate drill targets presented themselves.

The company said its initial programme would comprise of termite mound sampling across the Kisinka license area, with x-ray fluorescence (XRF) testing conducted on site.

Following that, the results would be assessed and mapped after comparison with available structural and geophysical data.

Further reports to market would be provided as and when material developments occurred, the board said.

“I am pleased to announce the recommencement of exploration activities at the Kisinka copper-cobalt project,” said African Battery Metals executive director Paul Johnson.

“African Battery Metals is an exploration and development company, and 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.

“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.”