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Kopore Metals Selling Botswana Copper Project

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THE BOURSE WHISPERER: Kopore Metals (ASX: KMT), by way of its wholly owned subsidiary company, Alvis-Crest (Proprietary) Limited, is selling its Virgo project in the Republic of Botswana.

Having struck a binding term sheet to assist with ongoing exploration at the Virgo project. Kopore Metals has agreed to sell 75 per cent of the issued capital in Alvis to AIM-listed ARC Minerals.

Alvis is the holder of two prospecting licences in the Kalahari Copper Belt in Botswana within 23km of the Zone 5 mine, currently under construction by Cupric Canyon Capital LP.

These two licences, PL135/2017 and PL162/2017 comprise Kopore’s Virgo project.

The Transaction is subject to certain conditions, including ARC to issue £1.2 million in ARC shares to Kopore in consideration for the purchase of 75 per cent of the issued capital of Alvis.

ARC has an option to buy the remaining 25 per cent for US$5 million in cash or ARC shares.

Kopore is to be free carried to a Bankable Feasibility Study with no dilution and will receive a 1 per cent net smelter royalty capped at US$30 million, which ARC can buy back for US$5 million.

“We are delighted to enter into this transaction with ARC,” Kopore Metals managing director Simon Jackson said in the company’s ASX announcement.

“They have been successful in adding value for their shareholders through their interests in Zambia and we share their vision for the Virgo project.

“We anticipate that having people and infrastructure in southern Africa will allow ARC to progress exploration at the Virgo project much quicker than Kopore would have been able to do as the COVID-19 pandemic continues to affect international and regional movement of people and other assets.

“Kopore can now focus on its remaining 3,592 square kilometres of exploration licences in Botswana at its Ghanzi West project (where reprocessing of historical data is ongoing) and at the Horseshoe West Project in the Bryah Basin of Western Australia, where the company has the right to earn up to a 70 per cent interest and where heritage surveys are now planned for early April 2021.

“We are excited to have copper exploration projects in two of the world’s most sought after jurisdictions given market indications that we are in the early months of what we think could potentially be a copper super cycle.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@koporemetals.com

 

Web: www.koporemetals.com

 

 

THE DAILY ROADHOUSE

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Carawine Resources Adds New Tenements and Welcomes Rio as JV Partner

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Auroch Minerals Confirms High-Grade Nickel at Saints

THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) announced the first assay results to emerge from the first drilling program undertaken at the company’s recently-acquired Saints nickel project northwest of Kalgoorlie in Western Australia.

Kopore Metals Intercepts Trace Amounts of Visible Copper Mineralisation

THE DRILL SERGEANT: Kopore Metals (ASX: KMT) kept the market up to speed on exploration activities being undertaken at the company’s Kalahari Copper Belt tenement holdings in Botswana and Namibia.

Magmatic Resources Gives David Flanagan a Chair at the Boardroom Table

THE BOURSE WHISPERER: Magmatic Resources (ASX: MAG) has appointed David Flanagan to the company’s Board as an independent non-executive director.

Kopore Metals Intercepts Trace Amounts of Visible Copper Mineralisation

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THE DRILL SERGEANT: Kopore Metals (ASX: KMT) kept the market up to speed on exploration activities being undertaken at the company’s Kalahari Copper Belt tenement holdings in Botswana and Namibia.

Kopore Metals is carrying out diamond drilling at the Otjari Domal prospect where it has completed its first two diamond drill holes.

A third diamond drill hole has been commenced to test an identified target within the Otjari/Qembo Corridor that will seek to test a known copper occurrence and test the inferred Ngwako Pan/D’Kar Formation geological contact.

Kopore has interpreted the Otjari Domal prospect as the along strike extension of the Qembo Dome, where previous explorers obtained historical copper intersections.

The initial two Otjari diamond drillholes have been interpreted to intersect the lower D’Kar Formation proximal to the targeted contact position.

Company observations from the recent drilling program include high temperature alteration and pathfinder sulphides, known to occur on the Kalahari Copper Belt along with the identification of trace amounts of visible copper mineralisation, including chalcocite and bornite in OTJ_002, at 201.10m depth downhole.

The company will complete the third diamond drillhole and revaluate returning to the first holes for possible depth extension.

“We are very happy with our initial exploration foray into the Otjari/Qembo corridor,” Kopore Metals managing director Simon Jackson said in the company’s announcement to the Australian Securities Exchange.

“This area of the Kalahari Copper Belt is extremely underexplored and we are pleased to be the first movers on many targets.

“The presence of visible copper mineralisation tells us that we are on the right track and coupled with our increasing geological knowledge, we are looking forward to making the next copper discovery on the belt.”

 

Email: info@koporemetals.com

Web: www.koporemetals.com

 

Kopore Metals (ASX: KMT)

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THE CONFERENCE CALLER: Kopore Metals (ASX: KMT) is currently conducting a program of diamond drilling at the company’s Namibian Otjari Domal prospect in Namibia.

Kopore Metals is drilling at the Otjari Domal prospect having completed a NSAMT ground geophysical survey, identifying a potentially shallow D’Kar/Ngwako Pan footwall contact position within 200 metres of surface.

The company’s technical team has interpreted the Otjari Domal prospect as a potential subsurface domal structure and the faulted south-western continuation of the identified Qembo Dome, known to host copper mineralisation.

This current drilling program is the Kopore’s first campaign into the Otjari Domal prospect.

The Resources Roadhouse spoke with Kopore Metals managing director Simon Jackson at the RIU Resources Investor Roadshow in Melbourne.

CLICK ON THE PIC BELOW TO VIEW VIDEO

Kopore Metals is actively exploring its copper-silver prospects on the emerging world class Kalahari Copper Belt, located in the Republic of Botswana and Namibia.

Kopore is exploring for stratabound copper-silver deposits across its sixteen 100 per cent-owned prospecting licenses in Botswana and eight prospecting licences in Namibia, for a total of 14,363 square kilometres on the world class Kalahari Copper Belt.

Kopore believes the Kalahari Copper Belt can provide the potential for large scale discovery.

 

Email: info@koporemetals.com

Web: www.koporemetals.com