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Chimata Gold Corp.
Summary
| Project: | Kamativi Tailings | |
|---|---|---|
| Deposit: | Kamativi Tailings | |
| Location: | Zimbabwe | |
| Commodities: | Lithium | |
| Date: | 4/6/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-4-2018: Chimata Gold Corp. announces a Supporting Acquisition report for its Kamativi Tailings deposit at the Kamativi Tailings project. Summary of property in support of acquisition. The MSA Group (Pty) Ltd (“MSA”) has been commissioned by Chimata Gold | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Michael Cronwright, John Derbyshire (MSA Group Pty Ltd.) | |
| ABSTRACT: | The MSA Group (Pty) Ltd (“MSA”) has been commissioned by Chimata Gold Corporation (“Chimata”/ “the Company”) to provide an Independent Technical Report on the Company’s exploration activity on the Kamativi Lithium Tailings Property (“the Property”) located in Matabeleland North, Zimbabwe. The Kamativi Lithium Tailings Project (“Kamativi tailings” / “Kamativi Project” / “the Project”) comprises the tailings dump derived from the historical tin mining conducted within ML No. 12 at the now disused Kamativi Tin Mine The Technical Report has been prepared in accordance with the disclosure and reporting requirements set forth in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), Companion Policy 43-101CP, Form 43-101F1, and the CIM Definition Standards for Mineral Resources and Mineral Reserves adopted by the CIM Council on May 10, 2014. On 14 February 2018, Chimata announced the company had entered into a binding letter of intent with Zimbabwe Lithium Company (Mauritius) Limited (“ZIM”), a privately held company incorporated under the laws of Mauritius (Chimata, 2018). In terms of the Letter of Intent, Chimata will subscribe to share capital of ZIM for an initial subscription of 19% of ZIM’s share capital in exchange for the allocation by Chimata of an amount of shares representing 19 % of its then outstanding share capital to ZIM. Chimata has the right to further acquire the remaining issued and outstanding share capital of ZIM upon fulfilling certain terms and conditions as set out in the Letter of Intent, the whole resulting in ZIM becoming a subsidiary of Chimata. | |
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