White Metal Resources has entered two binding letters of intent to buy a 95 percent interest in prospective copper properties in Namibia.
White Metal Resources (TSXV:WHM) has entered into two binding letters of intent to buy a 95 percent interest in prospective copper properties in Namibia.
As stated in the press release:
The two LOIs refer to four Exclusive Prospecting Licenses that cover historical copper-silver resources (Kalahari Copper Belt and Kaoko Belt) and prospective targets for further mineral exploration.
Three of the four licences are located approximately 150 kilometers from Windhoek, Namibia’s capital. These licences (EPL 7028, 7029, and 7030) cover about 65 km of prospective stratigraphy in the Kalahari Copper Belt which extends eastward into Botswana where several major copper deposits occur and are being financed at present. Two core licences (EPL 7028 and 7029) are located near the village of Witvlei, on the main paved highway to Botswana, covering about 60 kilometers of prospective strike length in the Kalahari Copper Belt. A rail line and power lines cross these two licences and gravel roads extend across the licences from the paved highway.
Michael Stares, a Director at White Metal, commented:
“We are very excited to have been presented this opportunity to work on developing these projects in Namibia, an excellent jurisdiction in which to explore for and develop economically viable copper deposits. All known copper deposits on the licenses contain copper and/or copper-silver mineralization that reports to surface. With the upward trend in copper prices and positive projections for near-future growth in its demand, we see great opportunities to create shareholder value in the company. It should also be noted that in 2016, the Fraser Institute of Canada listed the Namibian Geological Survey as the best geological survey in the world.”