African Battery Metals eyes cobalt prospects at Kisinka licence

African Battery Metals (ABM) announced on Monday that it will increase focus on its cobalt projects at its Kisinka licence in the Democratic Republic of Congo (DRC).

AIM-traded resource exploration company ABM is in the process of exploring Kisinka, which the company identified due to its proximity to large copper and cobalt producting mines, and has carried out field mapping and satellite imaging at the 53 square kilometre.

The company will now move on to soil sampling to look for elevated copper and cobalt grades which will point to mineralisation depth.

A statement from ABM, said: “First target is the Grand Conglomérat, which occurs running SE-NW on both sides of the Kisinka licence. The Grand Conglomérat is the rock type which, elsewhere in the DRC, hosts the Kamoa-type deposit, the fourth largest worldwide copper discovery.”

After obtaining soil samples through the augering holes every 25 metres to depths of 20 metres, samples with interesting anomalies will be sent to independent laboratories for verification.

There are seven mines within 25 kilometres of the site and the two mines for which ABM has data account for 7% of global cobalt production.

Elsewhere, ABM has completed soil sampling at its gold project in Sierra Leone with results to be released in due course and the company also holds another licence in the DRC, Sakania.

“ABM is also aware of other licences which are potentially available, some of which have had geological work already completed on them and which confirm copper/cobalt mineralisation. The Company believes that it may be able to acquire such licences for a modest and deferred front end fee,” said the statement.

As of 1325 GMT, African Battery Metals’ shares were up 5.80% at 0.05p.