Cobalt play Okapi signs geophysicists to maximise opportunities in the Congo
Mining & Resources
Special Report: The Klaus Eckhof-backed Okapi Resources now has extra support in its hunt for cobalt in the Democratic Republic of the Congo.
Okapi (ASX:OKR) announced today it has appointed Fathom Geophysics as consulting geophysics.
Okapi’s “Katanga” cobalt and copper project is located in the Congo and the company is also looking to appraise and secure further exploration and development opportunities in the country.
Fathom has extensive experience in airborne, ground and remote sensing techniques globally, particularly in Africa.
The new geophysics team is currently reviewing proposed airborne magnetic, radiometric and EM survey work programs and will make its recommendations soon.
The opportunity in the Congo
The Democratic Republic of the Congo accounts for more than half the world’s cobalt supply and cash is coming in from investors backing players in the mineral-rich African nation.
The cobalt market is gearing up for a sustained period of unprecedented consumption growth, reports market researcher Roskill.
Demand from the battery sector alone could reach 240,000 tonnes by 2027 – more than double the size of the whole market today, according to the consultant’s base-case forecast.
Earlier in the year, Okapi secured an option agreement to earn a 70 per cent stake in two copper-cobalt projects — Tenke and Ntondo projects– within the Katanga Cobalt-Copper project.
Due diligence is progressing very well with technical teams in the field and mineralisation being seen.
Mr Eckhof and Mr Ferguson have both been working in the region for over 15 years and say they have developed very good relationships with the local community and all levels of government.
Mr Ferguson has worked mainly in the Katanga Copper-Cobalt belt assessing projects for the likes of Tiger Resources and African Metals Corp and also concurrently with AVZ at its world class Manono lithium project.
Meanwhile in Australia, at the “Crackerjack” project, a second-phase detailed mapping and sampling program is expected to commence shortly.
Okapi expects to report results in the December quarter.
This special report is brought to you by Okapi Resources.
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