AVZ Minerals has announced a A$25 million investment for a drilling program at Roche Dure and an early works program for the Manono Lithium and Tin Project.
The Manono Project, located 500 kilometres north of Lubumbashi in the Democratic Republic of Congo’s south, is home to the world-class Roche Dure Mineral Resource, one of the world’s largest undeveloped hard rock lithium deposits.
The early works program is planned to be undertaken in the second half of the 2021-2022 financial year and comprises approximately A$19 million to be allocated to:
- Upgrade of existing roads and bridges to assist with the transport of equipment to and from site.
- Purchasing critical mobile equipment required for initial Project development.
- Progressing camp construction and entering key service contracts; and –
- Progressing various technical studies with respect to metallurgical test work, downstream processing and infrastructure projects.
According to AVZ’s Managing Director, Mr. Nigel Ferguson, the decision to invest in the drilling program demonstrates the Board’s confidence of receiving the support required to make the development of the Manono Project a reality.
“We are in close consultation with the DRC Government authorities that are undertaking the Mining Licence assessment and are confident of delivering a favourable outcome for all stakeholders – most importantly the people of the DRC and our shareholders,” he said in an ASX Announcement.
“The drilling program has the potential to add significant value with respect to expanding the reserve life of the Roche Dure deposit, whilst also identifying high grade ore zones for initial feed to the plant, providing increased SC6 production volumes from the start of operations.”
AVZ holds a 75% interest in the Manono Project.
