Chimata Gold Corp in Process of Completing a NI 43-101 Technical Report with Zimbabwe Lithium Company Limited for the Kamativ...
06 März 2018 - 1:00PM
VANCOUVER, British Columbia, March 06, 2018 (GLOBE
NEWSWIRE) -- Chimata Gold Corp.
(TSX.V:CAT) ("Chimata" or the "Company") is pleased to announce that it is in the
process of completing a NI 43-101 Technical Report (the
"Provisional Report") with Zimbabwe Lithium Company (Mauritius)
Limited ("ZIM"), the completion of
such satisfactory technical report being a condition precedent to
the entering into a Definitive Agreement with ZIM, as provided in
the Company's previous press release dated February 14, 2018. ZIM,
includes in its definition its wholly owned subsidiary, Jimbata
(Private) Limited, a company operational in Zimbabwe as the local
transacting company for the Kamativi
Tailings Dump Project (the "Project").
The Provisional Report reveals an exploration
target with a volume range of 14,800,000 to 15,080,000 cubic meters
and a tonnage range of between 23,000,000 to 25,000,000 metric
tonnes of tailings material, the Kamativi Tailings
Dump ("KTD") at a grade range
of 0.29 % to 1.13 % Li2O with 70% being
Spodumene. The potential tonnage and grade is conceptual in
nature as there is insufficient exploration data to define a
Mineral Resource, as this term is defined in NI 43-101 Respecting
Standards of Disclosure for Mineral Projects ("NI 43-101"). The Company cautions that further
exploration may not result in the delineation of a Mineral Resource
estimate.
The Provisional Report reveals that a total of 28
grab samples have been extracted from the KTD, at a grade of
between 0.29% to 1.13% Li2O. Early stage Mineralogy and Heavy
Liquid Separation has been completed on the grab samples by ZIM,
through SGS Randfontein South Africa, and indicates that 70% of the
lithium mineralisation, of the sample tested, is spodumene. As the
Kamativi Tin Mine was historically operational, significant
infrastructure for the site is still in place. This includes power,
water and a road network, all near to the mine and/or on site.
Chimata sees this Project as a Brownfield project with a clear and
quick path to production.
To view
the full text of this news release in its entirety, please follow
the link below:
http://chimatagoldcorp.com/wp-content/uploads/2018/03/2018.03.06-Updated-43-101-Press-Release-for-issuance-2.pdf
ON BEHALF OF THE
BOARD
Richard Groome
Chairman and Interim President
and CEO
Further information regarding the Company can be
found on SEDAR at www.SEDAR.com
Contact:
Steve Cozine
604-674-3145
info@chimatagoldcorp.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Chimata Gold Corp. via Globenewswire
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