Quarterly Activities Report
Sydney, July 29, 2021 AEST (ABN Newswire) - Cobre Limited (
ASX:CBE) is pleased to provide the following update on its activities for the quarter ended 30 June 2021. During the quarter, the Company continued to focus on its diverse project portfolio in Australia, Botswana and Gabon.
HIGHLIGHTS
Botswana:
- Maiden Joint Venture drilling program underway in the Kalahari Copper Belt, Botswana; and
- Initial results from diamond drilling confirm the existence of D'Kar Formation in the fold structures mapped in the Airborne Electromagnetic modelling.
Perrinvale:
- Completion of the Internal Optimisation Study at Perrinvale; and
- Field exploration ongoing to identify new targets for drilling.
Gabon:
- Modelling of the HTDEM survey data has identified 14 new prominent "late-time" conductive anomalies associated with the margins of interpreted mafic/ultramafic rock units; and
- Armada is well-funded with ~US$2.25 million in pre-IPO capital, and is well advanced, and on track for a planned ASX listing.
Corporate:
- Approval received from Shareholders to acquire a 51% controlling interest in Kalahari Metals Limited; and
- Successful capital raising of A$6.7m via a two tranche placement.
The Company also completed the first stage of its acquisition of a controlling interest in Kalahari Metals Limited (KML), a copper exploration JV company in the highly prospective Kalahari Copper Belt (KCB) in Botswana, following the approval of shareholders at the Extraordinary General meeting held on 6 April 2021 and also undertook a A$6.7m two tranche capital raise.
To view full quarterly report, please visit:
https://abnnewswire.net/lnk/4JEXOT3W
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.
| ||
|
