AVZ Minerals Company Profile

AVZ MINERALS

Mineral exploration company focused on developing the Manono Project, potentially one of the world’s largest lithium-rich LCT (lithium, caesium, tantalum) pegmatite deposits.
Company Exposure

Lithium, Tin, Tantalum

Company Listing

CAVZ Minerals

Stock Code

ASX:AVZ

Company Overview



AVZ Minerals Ltd is a junior mineral exploration company focused on developing the Manono Project located in the south of the Democratic Republic of Congo (DRC) in central Africa. AVZ has a 60% interest in the Manono Project. The Manono Project is potentially one of the world’s largest lithium-rich LCT (lithium, caesium, tantalum) pegmatite deposits. The Manono pegmatite extends for a strike length of at least 13km and is more than 290m thick in places.
The Manono Project includes the historic Manono Mine, a pegmatite deposit mined for its tin content from 1919 to 1982. The Company also holds a 100% interest in the Manono Extension Project which surrounds the Manono Project. In addition, AVZ holds a 60% interest in the Katanga Regional Project which comprises seven exploration licences in the Kibaran Belt in southern DRC which are known to host lithium-bearing pegmatites.

INVESTMENT HIGHLIGHTS

  • Senior technical specialists Mr Nigel Ferguson, Managing Director and Mr Rhett Brans, Non-Executive Director appointed to strengthen the board
  • Memorandum of Understanding signed with Guangzhou Tinci Materials Technology Co., Ltd and Beijing National Battery Technology Co., Ltd (BNBT) for potential investment in the company and off-take opportunities for the Manono Lithium Project
  • North American institutional client of Cantor Fitzgerald Canada Corporation completes a $15 million placement
  • 20,000m resource drilling program currently underway at Manono at 50% completed
  • Positive preliminary metallurgical test work results for Manono Lithium Project received demonstrating the Roche Dure prospect at the Manono Lithium Project can produce up to 6.3% Li2O DMS concentrate using standard metallurgical laboratory test standards
  • Concentrate specification shows the material is suitable for supply of a chemical grade concentrate to the growing lithium battery market
  • Initial company investigations have commenced and road rehabilitation works commenced by China Railway and Engineering Company
  • Further investigation of the railway transport system will be initiated in the Q2/Q3 2018

PROJECTS – Manono Lithium Project, DRC


Location
AVZ’s flagship project is the Manono Lithium Project in the south of the Democratic Republic of Congo (DRC), located approximately 500km due north of Lubumbashi. The project area can be accessed from Lubumbashi by a 1.5 hour flight or by road.

Infrastructure
Power is currently generated at the Manono township using diesel generators and a recently commissioned solar power system. Dathomir, our project partner, has agreed to facilitate investment in the rehabilitation of Piana Mwanga hydroelectric power station and the road from Lubumbashi to Manono. There is an abundance of good water supply for both local consumption and any potential mining operation at Manono.

 

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DIRECTORS & MANAGEMENT

Klaus Eckhof – Executive-Chairman
Nigel Ferguson – Managing Director
Rhett Brans – Non-Executive Director
Honliang Chen – Non-Executive Director
Guy Loando – Non-Executive Director
Mathew O’Hara – Company Secretary

MAJOR SHAREHOLDERS

Dathomir Mining Resources – 13.17%
Huayou International Mining (HK) Ltd – 9.95%
Board Management – 6.3%

MANONO LITHIUM PROJECT, DRC

  • AVZ holds 60% interest in PR13359, the Manono Project, La Congolaise D’exploitation Miniere SA (30%) (Cominiere, a State-owned enterprise) and Dathomir Mining Resources SARL (10%) (Dathomir, a privately owned company)
  • AVZ is responsible for funding expenditure to completion of a feasibility study
  • Project covers approximately 188km2 and includes the historic Manono and Kitotolo Mines
  • AVZ holds 100% interest in licences PR4029 and PR4030 that surround PR13359 and provide an additional 242.25km2 of prospective area
  • Hosts lithium pegmatites with a strike length of 13km+
DEVELOPMENT AND MINE PLANNING

AVZ Minerals Limited is currently undertaking an initial 20,000m resource drilling program at the Manono Lithium Project

  • Drilling is progressing with four drill rigs working 24/7
  • As of May 27th drilling completed to date was 9,500m of the initial 20,000m program
  • On track for production of a complete database to allow initial JORC resource calculation by end of June/ early July 2018
  • A summary of work completed includes:
    • Geological logging and structural, sample marking up, orientating core, collection of R.Q.D’s continues
    • Sampling of MO18DD021 and MO18DD023 continues. Cutting of MO18DD022 is complete and MO18DD024 will commence soon
    • Drill holes MO18DD019 – 020 were despatched to the Lubumbashi ALS preparation laboratory
    • Data entry of all the drill plods continues. Drill holes MO18DD031 – 034 currently in progress

RECEIVED ASSAY RESULTS

  • Drill-hole MO18DD001 reported 295.03m* @ 1.75% Li2O and 856 ppm Sn from 62.0m downhole
  • Drill-hole MO18DD002 reported 283.06m* @ 1.59% Li2O and 807 ppm Sn from 63.1m downhole
  • Drill-hole MO18DD003 reported 313.88m, comprising an intersection of 13.1m* @ 1.11% Li2O and 496ppm Sn from and 59.01m downhole and 289.58m* @ 1.63% Li2O and 845 ppm Sn from 83.3m downhole
  • Drill-hole MO18DD004; 276.72m* @ 1.61% Li2O and 947 ppm Sn from 54.0m downhole
  • The assay results are in accord with visual estimates of spodumene abundance
  • Assay results from holes MO18DD006 – MO18DD012 are anticipated to be received early June

* Refer to ASX announcement dated 30 April 2018

PRELIMINARY METALLURGICAL TEST WORK

Initial metallurgical test work completed on coarse assay reject material from holes MO17DD001 and MO17DD002

  • Simple spodumene mineralogy of the Roche Dure pegmatite responds well to a range of industry standard concentration techniques
  • Results demonstrate the Roche Dure prospect can produce up to 6.3% Li2O DMS concentrate using standard metallurgical laboratory test standards
  • Concentrate specification shows the material is suitable for supply of a chemical grade concentrate to the growing lithium battery market
  • Possible upgrade of specification through further metallurgical test work is now being planned combined with resource drilling
  • Results indicate a +6% spodumene concentrate can be produced at 3.35mm crush size with a high overall recovery utilising standard whole-of-ore Flotation or several variations of combined DMS and Flotation
  • MO17DD001 Comp concentrated 73.34% of the Li2O to the Cleaner DMS Underflow fraction at a grade of 6.3% and mass yield of 24.09%
  • MO17DD002 Comp concentrated 66.44% of the Li2O reported to the Cleaner DMS Underflow fraction at a grade of 6.3% Li2O and mass yield of 17.85%
  • Using flotation 93.85% of the Li2O was recovered to the combined concentrate fraction at a grade of 5.8% Li2O and mass yield of 29.13%

* Refer to ASX announcement dated 21 May 2018

Contact Details

WEBSITE: avzminerals.com.au

EMAIL: admin@avzminerals.com.au

PHONE: +61 8 9380 6789

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