African Battery Metals (ABM) The African focused exploration company developing projects in strategic battery metals, announced an update on its Ivory Coast nickel, cobalt and chrome project today.
It commenced geological work on its 380 sq km Lizetta II nickel, cobalt and chrome exploration project in Ivory Coast.
The technical team, led by a highly qualified exploration geologist is preparing for a structured field exploration programme.
Historic technical data has been identified during the visit, which the company will use to complement its independent consultancy works.
A major surface anomaly is open to the South-South-East, providing the potential to expand the mineralisation's footprint.
A supplementary surface sampling programme is planned to explore the extension of the mineralisation anomaly to the South-South-East, as well as to follow up on unexplored areas, with the aim of identifying areas potentially suitable for reverse circulation drilling identified from surface anomalies.
Shares in the company were up 8% to 2p a share following the announcement
ABM CEO, Roger Murphy, commented on the announcement: "Work has commenced on the Lizetta II Project in the Ivory Coast, with the aim of following up on historical and past indications of nickel, cobalt and chrome soil anomalies.”
“We are pleased to have identified additional historical data which reconfirms the prospectivity of the Project, and to have established that the Project's mineralisation is open to the SSE”
He added: “The work marks the next stage in our development as we look to work closely with all stakeholders in developing the current asset base, which includes cobalt and nickel projects in the Cameroon and the DRC, as well as identifying additional opportunities to cement our growth strategy and build value”
African Battery Metals is backed by a strong shareholder base including industry veterans Stephen Dattels and Ian Stalker who have track records of building high-value resource companies.
With the growing transition towards battery electric vehicles, there is a growing interest amongst investors seeking exposure to the battery metal commodity suite, particularly cobalt, lithium, copper and nickel.
Read more about the growth of the industry and minerals behind battery electric vehicles here
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