Lithium Joint Venture Progress Following Shareholder Approval
▪ Formal Notice of Decision to Proceed on Kitotolo Lithium Project issued following
shareholder approval at General Meeting on Tuesday, 10 October 2017
▪ Formal joint venture agreement to be finalised over the next month followed by
incorporation of the joint venture company and other legal and administrative matters
including licence transfers and appointment of key in-country personnel
▪ Planning underway for maiden exploration program to commence at the Kitotolo Lithium
Project following finalisation of Joint Venture
▪ Maiden exploration program expected to include trenching, test pitting and auger drilling
to sample and assay the fresh spodumene in pegmatite and to determine the depth and
strike extensions of the pegmatites, which are open in all directions and are considered
to potentially extend for several kilometres along a NE-SW trend
▪ Work will initially focus on the area surrounding a large artisanal pit where the geological
team observed spodumene in pegmatite and collected rock chip samples that returned
high-grade lithium mineralisation
▪ The high-grade results and extent of near surface mineralisation in predominantly
weathered pegmatites, combined with the project’s exceptional location within 40km of
AVZ Minerals’ ‘world-class’ Manono and Kitotolo deposits, underscores the significant
potential of the Company’s Kitotolo Lithium Project
4CE Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
