AVZ Minerals discovers largest pegmatite within the Manono Kitotolo System
09:55 18 Sep 2017
Results are now in for the final hole of the initial seven-hole drill program. AVZ minerals will trade high volume at the open AVZ Minerals Ltd (ASX:AVZ) shares are set to be actively traded at the open, with the company revealing the latest drilling results from the Manono Lithium Project, located in the Democratic Republic of Congo (DRC). The Carriere de L?Est Pegmatite, with a length of about 5,500 metres, is the largest pegmatite in the project.
Highlights from MO17DD007 include: 250.93 metres at 1.48% lithium and 913ppm tin from 1.9 metres. The thickness of intersected pegmatite and the geometric relationship between the location of MO17DD007 and mapped pegmatite boundaries suggests the thickness of the pegmatite may be 280 metres. The next drilling program will be focussed on resource definition, extension drilling and initial mineralogical test-work. About Manono The Manono Project is held by AVZ Minerals (60%), a DRC State-owned enterprise (30%) and Dathomir Mining Resources SARL (10%). AVZ recently secured a commitment to raise $13 million from a subsidiary of Huayou Cobalt, the largest cobalt chemicals producer in China, via the issue of shares at $0.07 each. The company last traded at $0.125.
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