Vancouver, British Columbia--(Newsfile Corp. - May 30, 2024) - AJN Resources Inc. (CSE: AJN) (FSE: 5AT) (AJN or the Company) is pleased to announce that the Company has commenced reverse circulation (RC) drilling on its Manono Northeast Project (PR 15282). Hub Drilling Limited, a South African based drilling company, has been contracted to follow up on drilling data received from the ongoing percussion drilling programme.
The percussion drilling programme identified three zones of alluvial sediment adjacent to the granite contact zones, which are interpreted to overlie the continuation of the Manono pegmatites onto PR 15282. These target zones were identified along two section lines as shown in Figure 1 and will be tested across the full 7km extent of the property including samples with anomalous lithium and tin, which were identified in the southern portion of PR 15232. The RC drilling programme will be revised once the Company has a better understanding of the distribution of lithium bearing pegmatites within the licence area. The Company intends to give regular updates with respect to the progress of the RC drilling and commencement of the diamond drilling programme on the project area.
The percussion drilling further confirmed that the PR 14537 property, which borders PR 15282, is underlain by granite and has no economic potential. The company has since withdrawn its interest and will not continue exploring on this licence.
Figure 1: Percussion Holes Drilled to Date and Position of the First Line of RC Drilling. Note the Interpreted Continuation of Pegmatites and RC Drill Targets in close Proximity to the Granite Contact and Results of Stream Sediment Samples.
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CEO and President Klaus Eckhof commented: "We are extremely excited to commence this next phase of our exploration programme at the Manono Northeast Project. The RC drilling will allow us to better understand the geological structures and potential mineralisation at deeper levels within our licence area. Our initial percussion drilling has provided valuable insights, and we look forward to expanding on this knowledge with more detailed drilling, sampling and analysis."
Figure 2: Photo of the RC Drill Rig on the Manono Northeast Project.
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Manono Northeast Project
To date the Company has carried out numerous pitting and stream sediment sampling programmes at its Manono Northeast Project, which have led to the identification of tin mineralization and grades of up to 400ppm lithium (Li). Percussion drilling has covered a further 5km across the project area and has identified the interpreted continuation of the Manono pegmatites onto PR15282 as shown in Figure 1. These strong results highlight the potential for the lithium-caesium-tantalum (LCT) pegmatites that were found at the nearby Manono project to continue onto the Manono Northeast Project. The Company notes that the northernmost trench at the Manono project, which was announced to have intersected near surface lithium bearing pegmatites, is located only 7 km to the southwest of the Manono Northeast Project boundary.
QP Statement
Mr Stephen Alan Mawson is a consultant of AJN Resources Inc. and a qualified geologist. Mr Mawson is a registered Professional Natural Scientist (Geological Science) with the South African Council for Natural Scientific Professions (SACNASP Reg. No. 400074/03) and a member of the Geological Society of South Africa. Mr Mawson is a qualified person (QP) under NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release.
About AJN Resources Inc.
AJN is a junior exploration company. AJN's management and directors possess over 75 years of collective industry experience and have been very successful in the areas of exploration, financing and developing major mines throughout the world, with a focus on Africa, especially the Democratic Republic of the Congo.
For further information, please contact Investor Relations:
Sheena Eckhof
Director, Investor Relations
[email protected]
Visit us at www.ajnresources.com
Tel: +44 7496 291547
On Behalf of the Board of Directors
Klaus Eckhof
CEO and President
[email protected]
Cautionary Note Regarding Forward-Looking Statements
The information in this news release may include certain information and statements about management's view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although AJN Resources Inc. believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, AJN Resources Inc. disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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