Vatic Ventures Corp. (TSXV:VCV) is pleased to announce that it has entered into negotiations with a private Sierra Leone company to earn a majority interest in a columbite-tantalite (“coltan”) property in the Kono district, eastern Sierra Leone, Africa. The license area totals 169.73 km2.
Vatic Ventures Corp. (TSXV:VCV) is pleased to announce that it has entered into negotiations with a private Sierra Leone company to earn a majority interest in a columbite-tantalite (“coltan”) property in the Kono district, eastern Sierra Leone, Africa. The license area totals 169.73 km2. The Kono district is a well-known mineral producing region for gold, diamonds and coltan. According to documents from the license holder that were issued by the Ministry of Mines and Mineral Resources, “columbite-tantalite is a non-conflict mineral and the license area is a non-conflict region in Sierra Leone.”
Coltan in Sierra Leone is a fairly recent discovery. The Director General of the Mines Department of the country recently described coltan as the “new kid on the block” on the Sierra Leone mineral landscape. The USGS recently reported that several companies in Sierra Leone are exploring for this material and that there was small-scale production and exports in 2013/2014.*
Coltan (columbite—tantalite) is a dull black metallic ore, from which the elements niobium and tantalum are extracted. Niobium and tantalum have a wide range of uses, including refractive lenses for glasses, cameras, phones and printers. They are also used in semiconductor circuits, and capacitors for small electronic devices such as hearing aids, pacemakers, computer hard drives, automobile electronics and mobile phones. The European Commission has placed both niobium and tantalum on its 2017 list of Critical Raw Materials for the EU.
The tantalite market has experienced significant price rises in the last two years, from just over USD $120/kg to over USD $186/kg. The market for niobium has remained relatively stable the past two years at over USD $42,000 per metric ton. Vatic sees this as a strategic opportunity to diversify its project portfolio.
The technical content of this news release has been reviewed and approved by Mr. Pieter J. Bakker, MSc. FAusIMM, who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Nasim Tyab, Director
* USGS. 2014 Minerals Yearbook. Niobium (Columbium) and Tantalum. April 2016.
USGS. 2015 Minerals Yearbook. Tantalum. January 2018.
ABOUT VATIC VENTURES CORP.
Vatic Ventures Corp. (www.vaticventures.com) is a junior exploration company and continues to assess new opportunities and prospects.
For further information, please contact Vatic at:
Vatic Ventures Corp.:
PHONE: (778) 373-6972
FAX: (604) 689-1288
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.” The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.