Cobre Limited (CBE.AX) Botswana Acquisition Investor Presentation
Sydney, Australia, Dec 17, 2020 - (ABN Newswire) - Cobre Limited (ASX:CBE) to acquire a controlling interest in Kalahari Metals Limited (KML), which is the second largest tenement holder in the highly prospective Kalahari Copper Belt (KCB) in Botswana next to Sandfire Resources Ltd (Sandfire).
Cobre Ltd (Cobre) has entered into a binding agreement to acquire up to a 51% stake in KML funded by the issue of circa 21.4 million Cobre shares. Under the agreement, Cobre will nominate its wholly owned subsidiary Cobre Kalahari Pty Ltd (Cobre Kalahari) to acquire the interest in KML.
Following completion of the transaction, KML will be operated as a joint venture between Cobre Kalahari (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 the high-grade structurally controlled mineralisation in anticlines above the contact.
KML's exploration will focus on these underexplored 'domes' 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.
To view the presentation, please visit:
About Cobre Limited:
Cobre Limited (ASX:CBE) is a Sydney based company focused on mineral exploration in Western Australia. The company recently discovered a new high grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia from its maiden drill program in June 2019.
Copyright (C) 2020 ABN Newswire. All rights reserved.