Zamare Acquires First Copper/Cobalt Exploration Licence in Zambia
Zamare Minerals Limited (“Zamare”) is delighted to announce that it has acquired its first Copper/Cobalt exploration licence in the prolific Copperbelt region of Zambia.
Zamare is a Copper/Cobalt Exploration Company focusing on minerals in high demand from the rapidly growing Renewable Energy Market. Its strategy is to secure highly prospective exploration acreage in renown Copper/Cobalt provinces in close proximity to large, discovered reserves.
Zamare’s Large Scale Exploration Licence 20859-HQ-LEL (135 km2) is the adjacent concession to the block containing the Mopani Copper/Cobalt mine, majority owned by Glencore and one of the largest producing mines in the world. The licence tenure is from 2016, running for an initial 4-year period and being renewable to 2026.
The Copperbelt is a 500 million year-old fold and thrust belt formed by the collision of the Kalahari and Congo cratons during the Lufilian Orogeny. Base metals, remobilized from “red beds” in the sedimentary succession, are concentrated along stratigraphic horizons, faults or other structurally and chemically controlled traps. This new understanding of the controls on mineralization has lead to identification of massive new deposits away from the historically important Ore Shale horizon. Due to this Zamare believes previously overlooked acreage now offer much greater prospectivity than previously understood.
Zamare is in discussions with other Zambian mineral exploration licence holders with the intention to acquire more licences this year to be followed by a comprehensive initial exploration work program across the portfolio to assess the full potential of the properties. The Company will seek to list on a public stock exchange at a suitable time.
Zamares objective is to acquire a high-quality land portfolio through tight capital discipline to maximise shareholder returns. Funding will be required for further acquisitions and the follow on work program.
Please contact the Company for any further information or if information is required on becoming a shareholder in Zamare at this very exciting growth stage for the Company.
Director: Julian Hammond
Contact: j.hammond@zamareminerals.com
28 March 2019
