Big trading day for CUCO, up with high volume African Energy Metals (Tickers: CUCO.v or NDENF for US investors) closed up a whopping 29% today on the TSXV with over double its average volume.
CUCO holds several battery metal concessions in the Manono area of the Democratic Republic of Congo (DRC) spanning 30 Kms². These concessions are clean titles that have promising deposits of lithium, tin, tantalum, and rare earth elements. CUCO is also looking to acquire other similar concessions in the same area.
CUCO's PE 8251 Concession, has a historical production of 25,500 million tons of tin at a grade of 5%. This production happened in a limited area of the concession which is open for expansion.
Tantalex Resources (TTX.v) and AVZ Minerals (AVZ) possess neighbouring properties near PE 8251, with AVZ Minerals' Roche Dure deposit and TTX's property likely sharing a pegmatite corridor with PE 8251. If Roche Dure or TTX's property demonstrates encouraging results, it could reflect favourably on CUCO's concession.
It is also anticipated that CUCO will obtain ownership of the 225 km2 Falea Project in Mali, West Africa. This project has a substantial uranium deposit along with significant copper and silver resources. Previous drilling and exploration on the project yielded a promising Indicated Mineral Resource Estimate of 6.88M Tonnes at 0.115% U3O8, 0.161% Cu, and 72.8 g/t Ag. However, only 5% of the project has been explored and many ore zones remain open for further exploration and expansion.
For more information, check out 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.