Zamare Acquires Second Copper/Cobalt Exploration Licence in Zambia

Zamare is in discussions with other Zambian mineral exploration licence holders and expects to acquire more licences in the near future, to be followed by a comprehensive initial exploration work program across the portfolio to assess the full potential of the properties.

Zamare acquired its first Copper/Cobalt exploration licence early this year in the prolific Copperbelt region of Zambia. Zamare’s first 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.

Zamare’s new Large Scale Exploration Licence 24827-HQ-LEL is 204 km2 in size and the licence tenure runs for an initial 4-year period, being renewable to 2029. It is the adjacent concession to the block containing the Trident Project, majority owned by First Quantum Minerals. The Trident Project contains the Sentinel Mine which has a single reserve of copper ore, measuring an estimated 1.03 billion tons of ore with a copper content of 0.51%, or about 5.2 million tons of pure copper. Its also contains the Enterprise Nickel Mine which had a Maiden Measured and Indicated Mineral Resource of 40.1 million tonnes at 1.07% Nickel. It is also close to the concession where AIM-listed ARC Minerals has recently reported very promising drilling results.

Zamare Minerals Limited (“Zamare”) is delighted to announce that it has acquired its second Copper/Cobalt exploration licence in the prolific North-West Province 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 renowned Copper/Cobalt provinces in close proximity to large, discovered reserves. 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.

Director: Julian Hammond
Contact: j.hammond@zamareminerals.com

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3 October 2019

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