Kalahari Copper Belt Botswana Presentation
Sydney, April 6, 2021 AEST (ABN Newswire) - Cobre Limited (
ASX:CBE) to acquire the controlling interest in Kalahari Metals Limited. Kalahari Metals Limited (KML) is the second largest tenement holder in highly prospective Kalahari Copper Belt (KCB) in Botswana next to Sandfire Resources Ltd (Sandfire)
Following shareholder approval today the 6th of April 2021, Cobre Ltd ASX:CBE (Cobre) will acquire up to a 51% stake in KML funded by the issue of circa 21.4 million Cobre shares.
KML will be operated as a joint venture between Cobre Kalahari Pty Ltd (a wholly owned subsidiary of Cobre) (51%) and Metal Tiger PLC (49%).
The KCB is regarded as one of the world's most prospective areas for yet-to-be-discovered sediment-hosted copper deposits by the US Geological Survey.
KML's landholdings are along strike, and adjacent to, two major development projects: Cupric Canyon's high-grade Zone 5 Cu-Ag deposit and Sandfire's T3 Motheo Cu-Ag deposit.
Historical exploration in the KCB focused on redox contact mineralisation on fold limbs, however recent discoveries have targeted high-grade structurally controlled mineralisation in hosted in anticlines above the contact.
KML's exploration will focus on these structurally controlled targets where mineralisation may be further concentrated above the classic redox contact.
Botswana is a stable jurisdiction investing heavily in power transmission to the KCB region.
Cobre and Metal Tiger
- Metal Tiger was an early investor in Cobre and currently holds 19.98%, which will be retained post completion of the KML transaction
- Metal Tiger recognized the significance of KML's landholdings in the KCB, becoming a shareholder in KML in 2018 and a major shareholder in early 2020
- Metal Tiger previously held a 30% interest in MOD Resources, which discovered the T3 deposit in the KCB and was subsequently acquired by Sandfire Resources for A$167m
- Working together through KML, Cobre and Metal Tiger aim to unlock even more value within the KCB.
To view the presentation, please visit:
https://abnnewswire.net/lnk/979J76S5
About Cobre Limited
Cobre Limited (ASX:CBE) is a copper and base-metals explorer with projects in Western Australia and Botswana. The Company recently discovered a new high-grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia, and is currently exploring approximately 8,100 km2 of tenements within the Kalahari Copper Belt (KCB) in Botswana.
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