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The Kamina Project comprises five separate exploration licences, Kamina I to Kamina V, covering 854.3 square kilometres of ground in Togo, which includes previously delineated cobalt ('Co') and nickel ('Ni') mineralisation. The licences were awarded to Keras in May 2017 and have an initial term of three years, which can be renewed twice for a period of two years each.

Average rock chips from the mineralised zone grade at 0.82% Ni and 0.19% Co, with highs of 1.4% Ni and 0.25% Co. The exploration licences are comprised of sericite schist, chlorite sericite schite and quartzite injected by ultramafic rocks. Numerous gossans and gossaniferrous schist outcrop surrounding the mafic and the ultramafic bodies. As a result, the target mineralisation is sulphide Ni/Co orebodies.

Several rock chips have been returned from the priority target, with results as shown in the table below. The in-situ value of the cobalt mineralisation based on the average of these grades is greater than the nickel component.

 

Nickel %

Cobalt %

Nickel Value
USD/t

Cobalt Value
USD/t

Total Value
USD/t

Au Eq
g/t

Sample 1

0.82

0.25

86.10

125.00

211.10

5.25

Sample 2

1.43

0.22

150.15

110.00

260.15

6.47

Sample 3

0.42

0.136

44.10

68.00

112.10

2.79

Sample 4

0.6

0.162

63.00

81.00

144.00

3.58

Average

0.82

0.19

85.84

96.00

181.84

4.52

Price

10,500

50,000

 

 

 

1,250/oz

Initial exploration work is now underway to investigate the resource potential of the project area, consisting of mapping, sampling, trenching and data compilation of historical data.

The Company's decision to expand its mineralised footprint in Togo not only underpins its strategy to consolidate its land position in the country - where it holds an 85% interest in the Nayega Manganese Project, but also provides exposure to the potentially high growth battery market. Cobalt often reported as the most critical metal from a supply perspective for the battery industry and prices have increased 100% in the past six months.