Public CompaniesHits continue for AVZ at African lithium project
Matt BirneySPONSORED
Tue, 28 February 2023 4:26PM
Matt Birney
AVZ Minerals has been working day and night during its latest drill program at the company’s Manolo lithium project in the Democratic Republic of Congo. Credit: File
AVZ Minerals continues to record impressive assays from its Manono lithium and tin project in the Democratic Republic of Congo including a whopping 113m hit at 1.79 per cent lithium oxide from 65.1m.
The massive intercept was from one of four diamond drill holes sunk into the company’s Roche Dure north-east extension and also included 860 parts-per-million tin in addition to a higher grade zone with a 36m section going 2.06 per cent lithium and 887ppm tin from 141m.
Additional highlights show a second hole producing a massive 165.18m section going 1.59 per cent lithium and 867ppm tin from 56m including 20m grading an outstanding 2.4 per cent lithium and 235ppm tin from 56m.
AVZ says a total of 54 samples returned figures of more than 2 per cent lithium oxide with five samples recording above 3 per cent lithium including one 2m hit at an incredible 4.39 per cent lithium from 56m.
The latest results build on assays recorded in December including 144.5m at 1.75 per cent lithium from 13.5m and 172.3m going 1.57 per cent lithium from 48.5m.
Despite recent holdups at the assaying facility in Perth due to unprecedented demand for lithium analyses, our third lot of four holes drilled at Roche Dure continue to demonstrate solid grade continuity both along strike and down dip from the current open pit design.
AVZ Minerals Managing Director, Nigel Ferguson
The company had originally planned an exploration program of 45 diamond drill holes that has now been expanded to 54 holes following AVZ noticing a significant change to the geometry of the deposit throughout the latest campaign. An additional two diamond drill holes are ongoing to complete the Roche Dure extension program with the deposit remaining open along strike and down dip.
The Perth-based company has hailed its Roche Dure deposit as the world’s largest undeveloped hard-rock lithium asset. On its raw numbers the under-developed deposit appears on track to eclipse Australia’s two major lithium assets, the world renowned Greenbushes and Pilgangoora. The WA projects claim resources of roughly 196 million tonnes and 309 million tonnes respectively.
According to AVZ, Roche Dure holds a 401 million tonnes resource running a solid grade of 1.65 per cent lithium. The JORC-compliant mineral reserve at Manono currently sits at 132 million tonnes going 1.63 per cent lithium.
AVZ completed a 4.5 million tonne per annum definitive feasibility study of the project in 2020 and is now awaiting a mining licence from the Government of the Democratic Republic of the Congo in order to begin activity on an envisioned open pit lithium, tin and tantalum mine.
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