As demand for mineral resources increases worldwide, African mining companies are positioned to benefit, as the continent is home to abundant mineral resources. One such company for your consideration is African Energy Metals (Tickers: CUCO.v or NDENF for US investors).
CUCO currently controls several concessions in the Manono region of the DRC. These concessions cover 200 km2 and are prospective for lithium, tin, tantalum and REEs. Other properties in the area are owned by big mining companies like Tantalex Resources (TTX.v) and AVZ Minerals (AVZ).
On Wednesday CUCO.v is also expected to acquire the Falea Project, located in Mali. This project spans 225 km2 and has a large uranium deposit with significant copper and silver resources.
945 holes have already been drilled at Falea. This drilling and other exploration activities have resulted in an Indicated Mineral Resource Estimate of 6.88M Tonnes at 0.115% U3O8, 0.161% Cu and 72.8 g/t Ag.
However, 95% of the 225 km2 property has yet to be explored and most ore zones remain open for exploration and expansion.
More on CUCO's acquisition of Falea here: https://ca.finance.yahoo.com/news/african-energy-metals-provides-mali-122900354.html
Posted on behalf of African Energy Metals Inc.