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Tanga Resources Ltd.
Summary
| Project: | Hagenhof | |
|---|---|---|
| Deposit: | Hagenhof | |
| Location: | Namibia | |
| Commodities: | Copper-Cobalt | |
| Date: | 8/15/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-8-2018: Tanga Resources Ltd. announces an Exploration/Drilling Update report for its Hagenhof deposit at the Hagenhof project. Historic drilling results incl. 24m @ 0.88% Cu from 74m. Tanga Resources Ltd (ASX: TRL) (“Tanga” or the “Company”) is pleased | |
| Resources: | x | |
| CP/QP: | [Overall Report]: John Stockley (Internal) | |
| ABSTRACT: | Tanga Resources Ltd (ASX: TRL) (“Tanga” or the “Company”) is pleased to announce that it has entered into a binding agreement to acquire all the issued shares in Aloe Investments One Hundred and Ninety Two (Proprietary) Ltd, a Namibian entity which owns 100% of the Hagenhof Copper Gold Cobalt Project (EPL 6226) (“Hagenhof” or the “Project”), in Namibia. Hagenhof is a highly prospective copper-cobalt project, hosted within a major structural setting, within the Damaran Metallogenic Belt in central northern Namibia. The acquisition expands Tanga’s presence in Namibia, adding to the Joumbira Zinc Project and provides shareholders with greater exposure to highly sought after metals, including copper and cobalt, for which strong demand is forecast with the rising uptake in electric vehicles. Matthew Bowles, CEO of Tanga Resources Ltd said: “We are delighted to have secured a 100% interest in this highly prospective copper-cobalt project in a worldclass, politically stable jurisdiction. The highly encouraging results returned in our initial sampling program, coupled with the historical copper results, have given us confidence that Hagenhof is a worthy acquisition and will fit neatly into the Tanga portfolio alongside our other Namibian asset, Joumbira. We are excited to have added exposure to key battery metals copper and cobalt through this deal, while the gold potential within Hagenhof certainly warrants further investigation.” | |
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