Bankers Cobalt Corp has announced that it has entered an option to acquire a 70 percent interest in a prospective metals license in Namibia.
Bankers Cobalt Corp (TSXV:BANC) has announced that it has entered an option with a private Namibian partner to acquire a 70 percent interest in a prospective base metals, precious metals and industrial metals license in Namibia.
According to the corporation, the option is for a period of two years with no defined expenditure requirements and may be extended or converted into a 70/30 corporate joint venture within the two-year option timeline.
The Kamanjab project is described by Bankers as having evidence of copper, zinc and lead mineralization – data that is backed by the Geological Survey of Namibia.
Chairman and CEO of Bankers, Stephen Barley said:
“Bankers primary focus will remain on the exploration of our large property portfolio in the DRC. Based on key relationships, Bankers was presented with the opportunity to participate in a highly prospective substantial land package in Namibia and the potential was so compelling the corporation determined to add this to the portfolio. This allows Bankers to provide diversification from the DRC with nominal cash consideration, no additional share or equity consideration and with no distraction from our primary DRC cobalt and copper focus.”