Assays confirm ‘significant’ lithium at Kitotolo for Force Commodities
Force Commodities (ASX: 4CE) today announced that assay results from its Kitotolo lithium project in the Democratic Republic of Congo had returned “significant” lithium, tin and tantalum.
The company undertook a recent rock chip and channel sampling program at Kitotolo from surface to 6m depths over a 3km by 3.5km area.
Assays returned lithium grades between 0.19% and 2.15%, which Force Commodities’ consulting geologist James Sullivan said, “confirmed the presence of high grade zones of pegmatite hosting lithium spodumene mineralisation at surface and at shallow depths and in predominantly weathered material.”
Mr Sullivan added the results were encouraging and highlighted the project’s economic potential.
“Further exploration including more detailed mapping, trenching, pitting and a maiden drilling campaign will greatly advance the understanding of the underlying fresh pegmatite at the Kitotolo lithium projects and much anticipated higher grades of lithium that are expected.”
Only last week, Force Commodities reported it had committed to acquiring the Kitotolo and Kiambi lithium projects after a four-week onsite due diligence report was completed.
The Kitotolo project encompasses 400 square kilometres and lies about 30km south west of AVZ Minerals’ (ASX: AVZ) Manono project which has experienced investor interest.
Only last week AVZ Minerals announced an agreement with Shanghai Great Power to explore offtake and investment opportunities.
Map showing proximity to AVZ Minerals project and highlights of an inferred regional structural corridor of lithium bearing pegmatite within the Kibaran Belt.
Kitotolo and Manono are both believed to be situated across an inferred regional structural corridor within the Kibaran Belt, which Force Commodities claims could potentially host a larger pegmatite field.
On 7 August 2017, Force Commodities announced it had entered an agreement to acquire a 70% interest in Kitotolo and Kiambi from Lithium Age Pty Ltd.
As previously mentioned, the board has openly committed to the acquisition, but this is subject to a shareholder vote at tomorrow’s general meeting.