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AVZ 15.5¢

AVZ MINERALS LIMITED

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Positive Preliminary Metallurgical Test Work Results for Manono Lithium Project

ASX Announcement 21 May 2018

HIGHLIGHTS

  • Initial metallurgical test work completed on coarse assay reject material from holes MO17DD001 and MO17DD002. 
  • Simple spodumene mineralogy of the Roche Dure pegmatite responds well to a range of industry standard concentration techniques. 
  • Initial metallurgical test work demonstrates the Roche Dure prospect at the Manono Lithium Project can produce up to 6.3% DMS concentrate using standard metallurgical laboratory test standards. 
  • Concentrate specification shows the material is suitable for supply of a chemical grade concentrate to the growing lithium battery market. 
  • Possible upgrade of specification through further metallurgical test work is now being planned combined with resource drilling.

AVZ’s Executive Chairman, Mr Klaus Eckhof, commented: “Results for this preliminary metallurgical test work on coarse reject material from two diamond drill holes testing the Roche Dure prospect provides further support for an extremely strong project. Having a +6% lithium concentrate produced, with low values of detrimental elements and without optimisation techniques being applied, positions the company extremely well against its peers and compares favourably with historical Belgian work carried out which produced a 6.8% Li2O concentrate.”

AVZ Minerals Limited (ASX: AVZ) is pleased to provide an update on initial and preliminary metallurgical test work completed on two samples of coarse assay sample reject material, from drill holes MO17DD001 and MO17DD002, from the Company’s Manono Lithium Project in the Democratic Republic of Congo.

The test results for samples from assay laboratory reject material are very encouraging with a number of potential processing routes now available to produce a spodumene concentrate product of +6% Li2O at recoveries of 73% Dense Media Separation (DMS) to 94% Flotation.

The preliminary test work indicates a +6% spodumene concentrate can be produced at 3.35mm crush size with a high overall recovery utilising standard whole-of-ore Flotation or several variations of combined DMS and Flotation.

Two samples were supplied to Nagrom Laboratories, Kelmscott Western Australia for this initial metallurgical test work program.

Click here to view the full announcement

Manono Lithium Project Drilling Program

ASX Announcement 16 May 2018 

HIGHLIGHTS 

  • Initial 20,000m resource drilling program progressing as scheduled.
  • Sample flow to laboratories well advanced with onward shipment to Perth ALS Laboratory. 
  • Metallurgical test work to be reported by the end of May. 
  • Airguide contract renewed for a further term. 
  • Top 20 shareholders listing available on Company website.

AVZ Minerals Limited (ASX: AVZ) is pleased to provide an update on exploration of the Manono Lithium Project in the Democratic Republic of Congo, including progress of the initial 20,000m resource drilling program.

Drilling is progressing well on the resource drilling program with four drill rigs working 24/7. Drilling to date has completed 8,073m of the initial 20,000m program. The tables included at Appendix 1 summarise the weekly production to date and status of drill holes.

A summary of work completed includes: 

  • Geological logging and structural, sample marking up, orientating core, collection of R.Q.D’s continues. 
  • Sampling of MO18DD021 and MO18DD023 continues. Cutting of MO18DD022 is complete and MO18DD024 will commence soon. 
  • Drill holes MO18DD019 – 020 were despatched to the Lubumbashi ALS preparation laboratory. 
  • Data entry of all the drill plods continues.

Community Relations and Social Investment

AVZ recently engaged with the Manono District Administrator and through the World Health Organisation sourced polio vaccine for children within the district. AVZ supplied the logistics necessary for transport of medical personnel to remote villages within the province to allow inoculations to be given. We are proud to state that more children that thought within the area were inoculated in the program.

AVZ will continue to support this program and other similar projects in the future.

Renewal of Airguide contract

AVZ is pleased to announce it has re-engaged Airguide International Pte Limited (“Airguide”) as its Strategic Adviser. Singapore-based Airguide possesses a track record of successfully advising ASX-listed battery materials companies with regard to business strategy, investment funding and off-take partnerships in China.

Airguide’s principals have been actively involved in the China commodity space for more than 15 years and the global industry for more than 20 years individually. In that time, they have established a clear track record for investing-in and advising companies across multiple commodities with respect to successfully completing agreements for off-take, joint-venture partnerships and investment.

The engagement period is for an additional 12-months and may be extended. The Company will pay a retainer fee and issue Airguide 7.5 million performance rights, which will vest based on achievement of share price targets and are similar in structure to recent management incentives. The performance rights shall vest in three equal tranches upon the following milestones being achieved:

  1. Tranche 1 shall vest if the 10-day volume weighted average share price (“VWAP”) for the shares on the ASX is A$0.34 or higher during the vesting period; 
  2. Tranche 2 shall vest if the 10-day VWAP for the shares on the ASX is A$0.40 or higher during the vesting period; and 
  3. Tranche 3 shall vest if the 10-day VWAP for the shares on the ASX is A$0.44 or higher during the vesting period.

The vesting period for the performance rights is from 1 December 2018 to expiry on 30 November 2021. It is the Boards view that these milestones are very much aligned with shareholders’ interests and notes the milestone prices are significantly above the current share price of the Company.

Click here to view the full announcement 

High-grade intercepts from first resource drill holes at Manono

ASX Announcement 30 April 2018



HIGHLIGHTS 

  • Drill-hole MO18DD001 reported 295.03m* @ 1.75% Li2O and 856 ppm Sn from 62.0m downhole. 
  • Drill-hole MO18DD002 reported 283.06m* @ 1.59% Li2O and 807 ppm Sn from 63.1m downhole. 
  • Drill-hole MO18DD003 reported 313.88m, comprising an intersection of 13.1m* @ 1.11% Li2O and 496ppm Sn from and 59.01m downhole and 289.58m* @ 1.63% Li2O and 845 ppm Sn from 83.3m downhole. 
  • Drill-hole MO18DD004; 276.72m* @ 1.61% Li2O and 947 ppm Sn from 54.0m downhole. 
  • The assay results are in accord with visual estimates of spodumene abundance reported previously. 
  • Assay results from holes MO18DD006 - MO18DD012 are anticipated to be received in the next two weeks.
  • Drilling progressing well, with four rigs fully operational and the 22nd drill-hole of the drilling program currently in progress. 
  • On track for initial JORC resource calculation by end of June quarter 2018.

AVZ’s Executive Chairman Klaus Eckhof commented “We are delighted with the progress of the resource drilling at Manono with four rigs now fully operational 24/7. With our resource consultants having visited site for independent reviews of the drilling program we are well placed to complete resource calculations as planned.”

AVZ Minerals Limited (ASX: AVZ) is pleased to provide an update on exploration of the Manono Lithium Project in the Democratic Republic of Congo, including progress of the initial 20,000m resource drilling program. 

Drilling progress 

Drill-holes MO18DD001, MO18DD002 and MO18DD003 were drilled from essentially the same position, refer Figure 1, while MO18DD004 was drilled from a location between these holes and drill-hole MO17DD001, drilled in 2017.

Click here to view the full announcement 


Drill Intercepts at Manono

ASX Announcement 6 April 2018 

HIGHLIGHTS


  • Drill-holes MO18DD003, 004, 006 and 007 confirm the thickness of the Roche Dure pegmatite, intersecting 313.88m*, 276.77m*, 284.30m* and 273.20*, respectively, of pegmatite.
  • All holes contain a high proportion of spodumene within the pegmatite.
  • Drill-holes MO18DD001, 002, 003 and 004 despatched for assaying.
  • Drill-holes MO18DD006, 007 and 008 have been logged and sampled and the samples will be despatched for assaying. Drill-holes MO18DD009, 010 and 011 are progressing towards completion.
  • Four drill rigs now on-site and drilling rate set to increase, concentrating on the Roche
  • Dure pegmatite.
  • Successful  sitevisit  by  BeijingNational  Battery  TechnologyCo.,  Ltd  (“BNBT”)
  • Chairman & Technical Advisors.


AVZ’s Executive Chairman Klaus Eckhof commented “Ongoing resource drilling of the Roche Dure pegmatite is gaining momentum with four drill rigs operational on site and a further one rig enroute to site. This additional drilling ability will allow AVZ to complete the initial 20,000m program of resource drilling in a timely manner. Core recovery has been excellent to date with nearly 100% core being recovered. Geological logging of the core has proven yet again that the Manono Lithium Project is world class in size.”


AVZ Minerals Limited (ASX: AVZ) is pleased to provide an update on its activities at the Manono Lithium Project in the Democratic Republic of Congo (“DRC”), including progress of the initial 20,000m resource drilling program.


The announcement accompanies the Price Query Response, and contains drilling intercept information for recent holes drilled, of which images of drill core were recently circulated on social media by Mr Michael Langford of Airguide International Pte Limited, AVZ’s strategic advisor regarding Chinese relationships. The circulation of those images was not authorised by  AVZ.  AVZadvises  that  investorsshould  not  relyon  those  imagesas  a  basisfor  any investment  decisionabout  AVZ  sharesand  should  awaitAVZ  reporting  assayresults  for MO18DD001, 002, 003, 004, 006, 007 and 008.


The Company is also pleased to confirm that the drilling at its present rate will allow an initial JORC resource calculation by the end of the June quarter 2018. Following completion of drill- holes  MO18DD001and  MO18DD002,  reportedon  19  February2018 and  6  March2018 respectively, progress has been made with the completion of six additional drill-holes.

Click here to view the full announcement 

Beijing National Battery Technology Co., Ltd to visit the Manono Lithium Project

ASX Announcement 21 March 2018



AVZ Minerals Limited (ASX: AVZ) (“AVZ” or “Company”) is pleased to advise that it is actively progressing  the Memorandum  of  Understanding(“MOU")  with  Beijing National  Battery Technology Co., Ltd (“BNB”) for potential investment and off-take opportunities.


As previously advised, discussions with BNB have been on-going for a number of months, and as part of BNB’s already-in-progress due diligence, the Company extended an invitation to visit the Manono Lithium Project in the Democratic Republic of Congo (“DRC”). Discussions have recently been held between BNB’s Chairman and AVZ Executive Management around working together to accelerate the development and production of the Manono Lithium Project. AVZ is pleased to confirm that the Chairman of BNB and their  due diligence team will  be attendingsite  at  Manonoin  the  DRCnext  week  withAVZ  Management  andits  strategic advisor, Airguide International Pte Limited.


Beijing National Battery Technology Co., Ltd (www.nationalpower.com.cn) is headquartered in Beijing, China, and holds the dominant market position for the supply of batteries to China's bus industry and is the 7th  largest battery maker globally with a focus on rapidly expanding its production facilities.


AVZ’s Executive Chairman Klaus Eckhof commented: “We are very excited by the pace and professionalism demonstrated by BNB as they move through their due diligence process with AVZ. Their ambition to be a dominant player in the global battery market is an excellent match for  AVZgiven  the  sizeof  Manono.  Thecontinued  level  ofinterest  we  areseeing  in  the Company following our recent record drill results, confirms once again the Manono Lithium Project as a world-class asset.”


AVZalso   advises   thatdiscussions   with othermemoranda   of   understanding   parties, Guangzhou Tinci Materials Technology Co. and Shanghai GreatPower Industry Co. remain ongoing.


About Beijing National Battery Technology Co., Ltd


BeijingNational  Battery  TechnologyCo.,  Ltd.  engagesin  the  researchand  development, production, and sales of lithium batteries. It offers lithium iron phosphate series of batteries for

use in buses and cars. The company was founded in 2011 and is based in Beijing, China.


Beijing National Battery Technology Co., Ltd. operates as a subsidiary of State Power Group, Ltd (www.eng.spic.com.cn).


BNBhas  its  ownin-house  team  ofmore  than  200technical  staff,  withover  15-years  of experience in China's lithium-ion battery sector, with the principals of BNB involved with the creation of BYD. The company holds more than 300 patents and has established production bases in Zhengzhou of Henan Province, Haining of Zhejiang Province, Xiangyang of Hubei Province, Nanchang of Jiangxi Province and Xinyu City of Jiangxi Province.


BNBhas  developed  thenext  generation  oflithium  iron  phosphatebatteries  with  energy densities of 220 Wh/kg, and for its lithium nickel cobalt manganese (LiNiCoMn)O2 batteries, energy densities of 330 Wh/kg have been reached, both of these battery series are planned for mass production in 2020.


BNB holds the dominant market position for the supply of batteries to China's bus industry. The company has strategic supply agreements with Yutong Bus, Zhongtong Bus, King Long Bus, Yaxing Bus, Higer bus and Wuzhou Long Bus, with purchase orders in excess of 2 million kWh, and 5 billion yuan.


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