Commences Manono Scoping Study: AVZ Minerals Ltd.’s (ASX: AVZ) stock rose 14.5% on June 27, 2018 after the company engaged Perth-based independent engineering group CPC Engineering to undertake a Scoping Study of its Manono Lithium Project in the Democratic Republic of Congo (DRC). This Scoping Study is expected to be completed in August 2018. In the Scoping Study, the company will prepare initial capital and operating cost estimates based on a typical hard rock spodumene concentrate process flowsheet. As part of the study, the company will undertake a high-level review of options to upgrade the spodumene concentrate, with the aim to minimise transportation costs. In a second high-level review, the company will investigate opportunities to produce a cassiterite (SnO2) concentrate as a secondary product stream. The Scoping Study will provide greater certainty to shareholders about the opportunity the Manono Lithium Project offers. Moreover, the Manono Lithium Project is on track to deliver record intercepts from drilling at Roche Dure, including those announced on 30 April 2018 with intercepts of 295.03m at 1.75% Li2O and 856ppm Sn, 283.06m at 1.59% Li2O and 807ppm Sn and 289.58m at 1.63% Li2O and 845ppm Sn, which are high grades of lithium and tin. The company considers that the independent confirmation of the size and quality of the Manono Lithium Project is not far away, and AVZ is aiming to announce a maiden JORC Mineral Resource, for just an initial portion of the Roche Dure Pegmatite (~800m of 2km of strike) in July 2018. Defining a Mineral Resource at Manono will be a significant milestone for the company, coming less than 18 months since the group began exploration on the project and six months since resource diamond drilling began. On the other hand, AVZ has informed that Mr. Klaus Eckhof has resigned as Executive Chairman of the company, effective immediately. Meanwhile, stock has fallen 66.80% in three months as on June 26, 2018.
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