LONDON (ShareCast) - (Sharecast News) - Battery metal exploration and development company African Battery Metals updated the market in its Cameroon cobalt-nickel project interests on Wednesday, confirming that an updated review had been undertaken across its four licenses at Ngoila Nord, Ngoila Est, Ekok and N'dja, and also in respect of its two licence applications at Ntam Est and N'Gaoundere;
The AIM-traded firm said the original rationale for it to acquire the licences in August last year had been reviewed and confirmed, being the proximity and geological similarity to the Geovic Mining Nkamouna deposit;

Geovic had published an NI 43-101 compliant mineral resource on the Nkamouna deposit with a total measured, indicated and inferred resource of 323mt of 0.21% cobalt, 0.61% nickel and 1.26% manganese.

African Battery Minerals also noted that Geovic had published an NI 43-101 compliant mineral reserve on the same Nkamouna deposit, showing proven and probable results of 0.26% cobalt, 0.66% nickel and 1.48% manganese.

Aside from the resource delineated at Nkamouna, Geovic jad also identified cobalt-nickel mineralisation in five other blocks, being Rapodjombo, North Mang, South Mang, Messia and Kondong, in the same region.

The company said that as a result, it believed that there was "the possibility" of more cobalt-nickel mineralisation in the area other than the large resource delineated by Geovic.

Nkamouna remained, to the firm's best knowledge, the largest undeveloped cobalt resource globally outside the Democratic Republic of the Congo, African Battery Minerals said.

It reported that a desktop study undertaken by Sahara Natural Resources, which was completed in June last year, had been reviewed with the report ranking the company's interests in order of technical priority.

Follow-up site visits were conducted by Sahara in October, with sampling undertaken within one metre of surface.

However, the lateritic environment required deeper sampling methods as demonstrated by the work undertaken at the Geovic project, which indicated that the mineralised horizons were below six metres.

The firm said the review work undertaken as part of its strategic and operational planning had confirmed that the Cameroon Project should be continued, with a forward work programme now being devised.

An "efficient and economical" work programme would be undertaken, the board said, prioritising the highest profile targets as determined from the work undertaken and reviewed to date.

"I am pleased to confirm that the company, following a review of all available information and liaison with our in-country partners, has decided to continue our work in Cameroon, where the tenements held are seen as highly prospective for elevated grades of nickel and cobalt," said African Battery Minerals executive director Paul Johnson.

"ABM is now continuing work in respect of both the DRC and Cameroon projects, utilising the information gathered to date to identify an optimal pathway to value generation for investors.

"The proximity and geological similarity of our interests to the Nkamouna deposit is highly attractive, particularly give the scale of Nkamouna."

Furthermore, Johnson said the company's team had identified what appeared to be a cost-effective exploration methodology to test mineralisation on its license areas which should, - without "too much" further delay - demonstrate the potential prospectivity of the license ground.

"I look forward to providing further information in respect of our planned exploration in-country, which ideally we would like to commence as soon as possible to enable work to be completed prior to the heavy rains expected after June."

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