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AVZ Minerals (ASX:AVZ) - Managing Director, Nigel Ferguson - The Market Herald
Managing Director, Nigel Ferguson
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  • AVZ Minerals (AVZ) has identified high-grade lithium and tin beneath the pit floor of the historical Roche Dure mine in the Democratic Republic of Congo
  • Roche Dure is part of the Manono Project, which independent studies have shown could be one of the lowest carbon-emitting lithium projects in the world
  • ANV has drilled 8 of 9 planned diamond holes into an area which was previously underwater and therefore untested in earlier programs
  • The company has received assay for 4 holes which included an intercept of 203.3 metres at 1.59 per cent lithium oxide and 1,014 parts per million tin
  • Once the program is completed and lab results received, the company will update the mineral resource incorporating the new data
  • Shares have been trading 2.7 per cent higher at 19 cents

AVZ Minerals (AVZ) has identified high-grade lithium and tin beneath the pit floor of the historical Roche Dure mine in the Democratic Republic of Congo.

Roche Dure is part of the Manono Project, which independent studies have shown could be developed as one of the lowest carbon-emitting lithium projects in the world.

ANV has completed 8 of 9 planned diamond holes as part of a resource drilling campaign in a previously untested area as Managing Director Nigel Ferguson explained.

"This area had previously been categorised as waste material in our current mining and financial model due to a lack of drilling data and under our current model, is pre-stripped as waste before ore can be sent to the processing plant."

"These positive drill results unequivocally demonstrate this is not the case and this material may be remodelled with increased confidence as revenue generating ore once all of the assay results are returned."

The company has received assays for 4 holes which encountered slightly weathered or fresh pegmatitic rock from the pit floor. Assay results included a 203.3-metre intercept at 1.59 per cent lithium oxide and 1,014 parts per million tin.

Once the final hole of the program is drilled and all assay results are returned from the lab, the company will update the mineral resource incorporating the new data.

Shares have been trading 2.7 per cent higher at 19 cents at 10:14 am AEDT.

AVZ by the numbers
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