VENTURES AFRICA – Kolwezi Copper Corp., a subsidiary of Telferscot Resources Inc., has acquired three additional exploration permits in the Democratic Republic of the Congo (“DRC”). The permits are situated in the copper-cobalt rich Kolwezi District located in Katanga Province – the heart of the Central African Copperbelt.
Through its wholly owned DRC operating subsidiary, KCC has acquired exploration permits PR 12717, PR 12718 and PR 12719 from the Republique Democratique du Congo Cadastre Minier. Each exploration permit carries an initial term of five years and two renewal options for an additional five years each. Upon each renewal, the Company would be required to relinquish 50% of the perimeter of the particular permit. Permitted exploration includes Copper, Cobalt and Gold. In order to maintain the validity of the permit, MDC must begin work within six months and pay annual area taxes. There are no minimum work requirements and the permits are 100% owned by KCC’s Congolese subsidiary.
With the acquisition of these three new exploration permits, Kolwezi Copper’s land position increases from 81 km2 to 189 km2.
On the announcement of the new deal, Telferscot’s President and COO, Bill Trewick, said, “We are extremely excited to have acquired these additional permits and we believe it is highly prospective ground. Telferscot is assembling a land package worthy of extensive exploration and with the potential to discover a significant copper-cobalt deposit in this world-class district.”
PR 12717 covers an area of approximately 43 km2 and is located about 50 km to the Northeast of the town of Kolwezi. PR 12718 covers an area of approximately 3.5 km2, is located about 10 km to the East of Kolwezi and is adjacent to KCC’s initial exploration permit PR 9090. PR 12719 covers an area of approximately 61 km2 and is located about 10 km to the South of Kolwezi.
Telferscot Resources Inc. is a Canadian-based mineral exploration company currently earning into a copper and cobalt exploration company in the Kolwezi District located in the Democratic Republic of the Congo. The Company also has a base and precious metal exploration project, “Stephens Lake”, in northern Manitoba and is actively pursuing other opportunities globally.
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