Wheres can this UPI article be found that everyone keeps referring to??
The Drudge report times out.
Ann: Manono Project Mineral Resource increases 47% to 842Mt, page-12
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Announcement from ERM has made my day. :)
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Here is an udder 2 pages.. GLAH Mal
Manono Project Mineral Resource increases 47% to
842Mt as Roche Dure tonnages expanded
Highlights
▪ Mineral Resource delineation drilling at Roche Dure adds a further 268 million
tonnes (Mt) to the Manono Lithium and Tin Project (Manono Project).
▪ Mineral Resource update reinforces AVZ’s 75% owned Manono Project, one of
the world’s largest hard rock lithium projects.
▪ Completion of Mineral Resource estimates following on the Early Works 2022
– 2023 53-hole diamond drilling programme for some 15,684.7m, generates
the following:
- A 47% increase in the Manono Project’s (Roche Dure and Carriere de
l’Este) Measured, Indicated and Inferred Mineral Resource tonnage to
842Mt grading 1.61% Li2O, 709ppm Sn and 37ppm Ta containing 13.52Mt
of lithium oxide.
- A 67% increase in the Roche Dure Measured, Indicated and Inferred
Mineral Resource tonnage to 669Mt grading 1.61% Li2O, 690ppm Sn and
33ppm Ta containing 10.79Mt of lithium oxide.
- An 82% increase in the Roche Dure Measured & Indicated Resource to
500Mt at 1.63% Li2O, 755ppm Sn and 34ppm Ta containing 8.14Mt of
lithium oxide and 377kt of tin.
- An increased confidence level, with 75% of the Roche Dure Mineral
Resource now classified as Measured & Indicated.
▪ In addition to Sn, Ta and Li2O, CSA Global estimated Fe2O3, a potentially
deleterious element, at an average of 1.01% Fe2O3 for the Project.
▪ The Manono Project Mineral Resource includes all results from the FY23, 53-
hole Early Works drilling programme added to the recently reported Carrier de
l’Este Mineral Resource estimate1
.
▪ The higher confidence tonnages are expected to increase the potential life of
mine as will expected decreasing waste to ore stripping ratios resulting from
the significant flattening of the deposit in the northern 500 metres of the newly
completed geological model.
1 Refer ASX announcement dated 18 December 2023 “Carriere de l’Este Maiden Mineral Resource
Estimate”
ASX ANNOUNCEMENT
31 January 2024
AVZ Minerals Limited
Directors
Non-Executive Chairman: John Clarke
Managing Director: Nigel Ferguson
Technical Director: Graeme Johnston
Non-Executive Director: Rhett Brans
Executive Director: Serge Ngandu
Non-Executive Director: Casta
Tungaraza
Non-Executive Director: Salome Sijaona
2 | P a g e
Important information regarding ownership of the Roche Dure deposit
On the 28th December 2016, PR 13359 which authorises exploration and feasibility studies to be undertaken, was
granted for a period of 5 years. On the 29th December 2016, PR13359 was transferred from La Congolaise
d’Exploitation Miniere SA (Cominiere) to Dathcom Mining SA (Dathcom). On 4th May 2021, Dathcom applied to
convert PR13359 into an exploitation permit (PE) which authorises mining. Upon lodging the PE application,
PR13359’s term was extended indefinitely to allow determination of the PE application.
Dathcom undertook the drilling of the Carriere de l’Este deposit pursuant to PR 13359 between 2017 and 2021. It
also carried out further drilling of the Roche Dure deposit as part of its Early Works Programme in 2022 and 2023.
Subsequently, disputes have emerged relating to the ownership of PR 13359. These disputes are the subject of
various arbitration proceedings which are summarised in AVZ’s ASX announcements dated October 30th, November
2nd, 15th and 17th, December 19th 2023, and the 18th January 2024.
The allegation that Manono Lithium SA holds PR 15775 over the northern portion of the Manono Project is without
any legal foundation. This northern area includes the Carriere de l’Este, Malata and Kahungwe deposits, the rebuilt
Colline Manono construction camp and administrative centre as well as the Dathcom core yard and core farm that
hosts the sample library.
AVZ maintains that Dathcom is the holder of PR 13359 in respect of the entire Manono Project (including both the
southern and northern areas) and remains the applicant for a PE in respect of that land. AVZ has grounds to believe
it has strong prospects of success and is confident of its position. The purpose of the ICSID proceedings which were
commenced by AVZ on 8 May 2023 and registered on 8 June 2023 is to authoritatively establish this.
On 18 January 2024, the Company announced the ICSID tribunal issued interim orders to the effect that the DRC take
all necessary steps to reflect that Dathcom is the holder of PR 13359 (but excluding the northern area) and to protect
AVZI, GLH and Dathcom’s rights during the pendency of the proceedings. The Company considers the unlawfulness
of the transfer of PR 13359 from Dathcom to Cominiere, which has been reversed under the Interim Orders, renders
Cominiere’s relinquishment of the northern portion of PR 13359 and the subsequent grant of PR 15775 to Manono
Lithium SA to be equally unlawful. Accordingly, the Company will continue with its efforts to confirm its and
Dathcom’s ownership of the northern area of the Manono Project either through its continued negotiations with the
DRC government’s senior public officials or the prosecution of the ICSID and ICC proceedings to their conclusion.
However, the Company’s board of directors considers the ICSID tribunal’s interim decision provides significant further
impetus for a negotiated outcome.
In light of the above, there is a reasonable prospect that a party, including the Company, will be granted a PE in
respect of both the Roche Dure and Carriere de l’Este Mineral Resources. If Dathcom is granted a PE in respect of
both the Roche Dure and Carriere de l’Este Mineral Resources, further negotiations will then be undertaken with the
shareholders of Dathcom in relation to the terms of the mining joint venture.
AVZ Minerals Limited ASX: AVZ, OTC:AZZVF, (Company) or (AVZ) is pleased to announce it has updated
the Mineral Resource of the Manono Lithium and Tin Project (Manono Project) after generating new
results from the 2022 – 2023 drilling programme at the Roche Dure pegmatite (the Roche Dure Extension
Drilling Project).
AVZ’s Managing Director, Mr Nigel Ferguson, said: “The Roche Dure drilling was carried out to the northeast of the previous geological model as part of the Early Works Programme2
. This ‘bridging’ programme
was established to maintain the project construction timetable that was committed to in the project’s
Definitive Feasibility Study lodged with the DRC authorities. Subsequently, we received the required
technical approval, leading to the Ministerial Decree to award the mining licence3
, which was later
revoked4
.”
2 Refer to ASX announcement dated 10 February 2022 “AVZ commits A$25 M to early works & exploration drilling program for
Manono Lithium and Tin Project”
3 Refer to ASX announcement dated 4 May 2022 “Ministerial Decree to Award the Mining Licence Manono Lithium and Tin
Project”
4 Refer to ASX announcement dated 6 February 2023 “Issue of two new Ministerial Decrees Manono Lithium and Tin Project”
3 | P a g e
“The completion of the Roche Dure drilling programme brings this study to a conclusion and has added a
further 268 million tonnes to the Company’s overall Mineral Resource. Significantly, of this extra defined
tonnage, an extra 216 million tonnes were added to the Measured and Indicated categories which may
underpin future increases in mineable Ore Reserve re-estimates due to the relatively high level of
confidence in the estimates of these new tonnages going forward.”
Early Works Drilling Programme
The objective of drilling along strike from the area of known mineralisation at Roche Dure was to expand
the future economic opportunities associated with an increase of the Mineral Resource from its previous
401Mt @1.65% Li2O (AVZ ASX Announcement 24th May 2021 – Updated Mineral Resource Estimate
Includes Pit Floor “Wedge” Drill Results).
Figure 1 and Table 1 shows the extent of the Early Works Roche Dure extension drilling programme5,6,7,8,9
.
The primary aim of the new drilling was to infill some gaps in the existing geological model towards the
northeastern end where previous drilling remained incomplete due to access problems. The secondary
objective of the drilling was to extend the drilling pattern along strike to increase the size of the Mineral
Resource at a close enough pattern to generate mostly Measured and Indicated Mineral Resources.
The addition of the 53 closely spaced diamond holes (Figures 1 and 2) generated a high level of confidence
in the deposit model and resulted in a robust 82% increase in combined Measured and Indicated
Resource tonnages at Roche Dure (Table 2).
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