CUCO.v to acquire Falea project from GoviEx Uranium w/ links The global trend toward electrification is expected to continue to drive up the price of and demand for lithium, uranium and other battery metals. With this, many are searching for the next high-potential junior battery metal company to invest in. One to consider is African Energy Metals (Tickers: CUCO.v or NDENF for US investors). CUCO closed 20% up on the CSE today.
CUCO recently signed an agreement with GoviEx Uranium to acquire the Falea project, a polymetallic deposit located in Mali, West Africa. The deposit contains uranium, copper, and silver resources, with most of the known ore zones open for exploration.
As of October 2015, the project's Indicated Mineral Resource is estimated to be 6.88 million tonnes at 0.115% triuranium octoxide (U3O8), 0.161% Cu, and 73 g/t Ag, while the Inferred Mineral Resource stands at 8.78 million tonnes at 0.07% U3O8, 0.200% Cu, and 17 g/t Ag. More here: https://www.nsenergybusiness.com/projects/falea-polymetallic-project/
CUCO also controls several concessions in the Manono area of the Democratic Republic of Congo (DRC). The concessions are highly prospective for lithium, tin, tantalum, and rare earth elements. With clean titles extending across 30 square kilometres, CUCO is one of the largest concession holders in the area and is also looking to acquire additional Manono concessions.
Notably, mining giants such as Tantalex Resources (TTX.v) and AVZ Minerals (AVZ) have assets in the same region. While TTX is valued at $62 million, and AVZ is valued at $2.75 billion AUD, CUCO has a market cap of only $2.5 million.
One of CUCO's concessions is believed to be situated on a pegmatite corridor that runs from AVZ Minerals' Roche Dure deposit through a TTX property and leads to the CUCO concession. Hence, any positive discoveries at Roche Dure or TTX's property could potentially benefit CUCO.
For more information, take a look at CUCO's deck here: https://africanenergymetals.com/wp-content/uploads/2023/02/African-Energy-Metals-Corporate-Presentation_2023.02.01.pdf. Posted on behalf of African Energy Metals Inc.