Source: AJN Resources Inc.
  • AJN Resources (CSE:AJN) will acquire up to a 70 per cent interest in a highly prospective lithium exploration permit in the Democratic Republic of Congo
  • AJN signed a binding term sheet with Palm Constellation SARL to acquire an indirect interest in exploration permit PR 15282
  • Located in the Manono Territory, Tanganyika Province of the DRC, the property is located 7 km northeast of the northern extension of the Manono pegmatites and 15 km northeast of Manono centre
  • AJN Resources Inc. (AJN) opened trading at $0.28 per share

AJN Resources (CSE:AJN) will acquire up to a 70 per cent interest in a highly prospective lithium exploration permit.

The Vancouver-based business signed a binding term sheet with Palm Constellation SARL, which is a limited liability company with its registered office in Kinshasa, Democratic Republic of Congo (DRC) helping oversee AJN’s acquisition of an indirect interest in exploration permit PR 15282.

Located in the Manono Territory, Tanganyika Province of the DRC, PR 15282 is located 7 km northeast of the northern extension of the Manono pegmatites and 15 km northeast of Manono centre.

The company’s CEO and President, Klaus Eckhof, commented that this latest acquisition potentially covers 10 km of highly prospective ground with good potential to host lithium bearing pegmatites under surficial cover.

“Historically, mining and exploration was concentrated on the exposed spodumene bearing pegmatites around Manono which cover a strike length of approximately 13 km and little focus was placed on following the extension of these pegmatites under cover to the northeast. We are further encouraged by the location of the project within the broader 120 km pegmatite belt with known tin/lithium/tantalite occurrences which have been defined or mined over 500 km of strike.”

AJN can acquire a 51 per cent indirect interest in PR 15282 by paying an additional US$250,000 to Palm Constellation and issuing a number of shares equal to 10.5 per cent of its issued and outstanding shares. AJN can acquire a further 10 per cent indirect interest (for a total 70 per cent indirect interest) by paying an additional US$5,000,000.

AJN is a junior exploration company with more than 75 years of collective industry experience developing mines in the DRC. The company also acquired a 75 per in a highly prospective lithium application permit called for PR 15383, located on the Kabunda Trend in Eastern DRC. Click here to read more.

AJN Resources Inc. (AJN) opened trading at $0.28 per share.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

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