Armada Metals Ltd (ASX:AMM) welcomes the renewal for an additional three years of permit G5-150 which forms part of its Nyanga Nickel-Copper Project in Gabon.
The renewal was granted by the Minister of Mines in Gabon, his Excellency Elvis Ossindji, and was dated November 29, 2022.
It was received formally by the company on January 5, 2023, and is valid for three years until the end of November 2025.
Continued exploration
The renewal of permit G5-150 allows Armada to continue exploring the northern extension of the 25-kilometre-long Libonga-Matchiti Trend (LMT) within which the high priority Libonga North, Central and South exploration targets fall.
These targets, which are the company’s highest-priority magmatic nickel-copper targets, will remain a focus, alongside other priority targets, in upcoming 2023 exploration programs.
“District-scale potential”
Armada’s managing director & CEO Dr Ross McGowan said: “The recent renewal of permit G5-150 for an additional three years is a significant achievement for Armada as we seek to explore the entire length of the 25-kilometre-long and highly prospective strike of the Libonga-Matchiti Trend.
"Importantly, the renewal maintains the district-scale potential of the Nyanga Project, and we look forward to continuing advanced exploration over our highest priority targets within the renewed areas over the course of 2023.
"The renewal represents further endorsement by the Government of Gabon and Ministry of Mines, and we look forward to their continued support.”
Reduction in area
The renewal document for Permit G5-150 also shows an 18% reduction in the permit area to 1,230 square kilometres from 1,497 square kilometres.
Armada remains in discussion with the Gabon Ministry of Mines in regard to this reduction.
Tenement map for the Nyanga Project. Datum UTM WGS84 32S. Source: AMM.
About Armada Metals
The company was established to define new belt-scale discovery opportunities for key commodities, principally nickel and copper, in under-explored regions of Africa.
It is exploring a multi-target project opportunity for magmatic nickel-copper sulphides in the Nyanga area of southern Gabon.
The company is supported by a board and Africa-based technical team, both with a track record of successful African projects.
Key members of Armada's targeting crew were part of the team awarded the 2015 PDAC Thayer Lindsley Award for an International Mineral Discovery as members of the Kamoa discovery team with Ivanhoe Mines.