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AVZ Minerals (ASX:AVZ) - Managing Director, Nigel Ferguson - The Market Herald
Managing Director, Nigel Ferguson
Source: 121 Mining Investment Events
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  • AVZ Minerals (AVZ) has confirmed the potential to extend mineralised pegmatites within the Manono Lithium and Tin Project in the Democratic Republic of Congo
  • The company received significant results from the three out of five holes that intersected mineralised pegmatite
  • Based on the findings, the company believes there's potential for extensions to the Roche Dure open pit into the nearby Kyoni pegmatite mineralisation
  • AVZ Minerals will now compile and use the new data to update a mining optimisation study
  • Company shares are up 2.86 per cent and are trading at 18 cents

AVZ Minerals (AVZ) has received results from several new mineralised zones at its Manono Lithium and Tin Project in the Democratic Republic of Congo.

The mineralised zones are situated within five of nine piezometer holes drilled at the Roche Dure pit to observe water table movements.

Of the five holes where mineralised pegmatite was intersected, three are significant.

Stand-out results returned grades of up to 1.79 per cent lithium oxide and 1174 parts per million tin.

Additionally, a new intersection in one of the holes is outside the current pit design which shows there's potential for extensions to the Roche Dure open pit into the nearby Kyoni pegmatite mineralisation.

Further, the high-grade intersection in the same hole resulted in the northeastern limit of the Roche Dure pegmatite being extended by roughly 90 metres to the southeast.

"These unexpected results confirm the excellent prospects of extending the Roche Dure open pit into the neighbouring Kyoni pegmatite," Managing Director Nigel Ferguson said.

"It is very encouraging to note a significant and thick 2 per cent lithia zone near the surface that can be optimised to provide a possible high-grade feedstock for start-up mining operations," Nigel added.

AVZ Minerals completed a definitive feasibility in April last year, however, it will now update its mining optimisation study using the new data collected since then.

Company shares are up 2.86 per cent and are trading at 18 cents at 2:25 pm AEDT.

AVZ by the numbers
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