AVZ Minerals Limited ABN 81 125 176 703 Level 2, Suite 9, 389...

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AVZ Minerals Limited ABN 81 125 176 703 Level 2, Suite 9, 389 Oxford Street, Mt Hawthorn, WA, 6016 T + 61 8 9380 6789 F + 61 8 9380 6761 E: [email protected] W: www.avzminerals.com.au
AVZ Minerals Limited
20 November 2017
MANONO PROJECT UPDATE
AVZ Minerals (ASX: AVZ) holds a 60% interest in the Manono Lithium Project in the south of the Democratic Republic of Congo (DRC) in central Africa.
Infrastructure Update – Road Rehabilitation
The Manono Lithium Project is approximately 500km due north of Lubumbashi, the capital of the Katanga Province, in the south of the DRC. Lubumbashi is the mining capital of the DRC, acting as a hub for many of the country's biggest mining companies. Manono can be accessed from Lubumbashi by 1.5 hour flight or by road.
As previously advised, Dathomir Mining Resources sarl, one of AVZ’s joint venture partners at the Manono Lithium Project, agreed to facilitate the rehabilitation of the road from Lubumbashi to Manono.
AVZ has been advised that an agreement has been entered between a Chinese affiliated investor group (CIG) and the DRC Ministry of Infrastructure, Public Works and Reconstruction pursuant to which the CIG will fund rehabilitation and bituminising of the road from Luambo to Manono, covering approximately 466kms of road surface. The road from Lubumbashi to Luambo has previously been bituminized. The estimated cost to complete the works is US$285 million.
Drilling Update
As previously advised, AVZ has entered into an agreement with Equity Drilling Limited (Equity) for the completion of an initial 20,000 metres of drilling at the Manono Lithium Project. The drill program has been designed to define initial JORC compliant mineral resources at the Kitotolo and Manono sectors of the Project. The 20,000 metre program using one Multipurpose and 3 diamond drill rigs should take approximately 3 months to complete.
Following receipt of the necessary regulatory and import documentation, Equity have commenced mobilisation and drilling is expected to commence in early December 2017.
Further information about AVZ is available at www.avzminerals.com.au, or contact:
Mr Klaus Eckhof
Executive Chairman
AVZ Minerals Limited
Phone: +377 680 866 300
Email: [email protected]