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Botswana Metals Ltd.
Summary
| Project: | Maibele | |
|---|---|---|
| Deposit: | Maibele North | |
| Location: | Botswana | |
| Commodities: | Cobalt | |
| Date: | 6/5/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 5-6-2017: Botswana Metals Ltd. announces an Exploration/Drilling Update report for its Maibele North deposit at the Maibele project. JV with BCL Ltd. - re-assay of historical core incl. 4m @ 1227ppm Co from 113m. Botswana Metals Limited (“BML” or “the Com | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Steve Groves (Internal) | |
| ABSTRACT: | Botswana Metals Limited (“BML” or “the Company”) is pleased to announce a number of new significant Cobalt intercepts from reassaying of existing samples from within the Maibele North orebody. The sampling program follows an in depth review of historical drilling results that revealed significant Cobalt intercepts that were released to the ASX on 2 March 2017. Samples from a total of seven holes at Maibele North containing no previous Co assays were located for this exercise. Hole MARC0096 was a vertical metallurgical RC hole drilled by former JV partners BCL Limited and these are the first assay results BML has received from this hole. The Company will continue to review the existing drill hole database to identify any additional samples or holes that have not been tested for Cobalt from within the Maibele North and Takane projects. BML’s focus in the past was solely on Copper and Nickel. However, the recent increase in Cobalt prices has led the Company to revisit historical drilling data. The Company will continue to review other historic drilling data, with a focus on intercepts falling within the 1,135 km2 of exploration licenses that fall outside of the 185 km2 joint venture area. The Maibele North project PL 110/94 is one of three licences subject to the Farm-in Joint Venture Agreement with BCL Limited a 100% owned Botswana Government owned company. The company has appointed a provisional liquidator who was recently granted an extension by the High Court of Botswana 15 June 2017 to decide whether a liquidator will be officially appointed. | |
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