VANCOUVER, British Columbia,
July 5, 2018 /PRNewswire/ --
Bankers Cobalt Corp. (TSXV: BANC) (FSE: BC2) (OTCQB:
NDENF) (the "Corporation" or "Bankers") is pleased to
provide an update on exploration activities in the Democratic Republic of Congo ("DRC").
Grant Dempsey, President and COO
of Bankers, stated: "In line with Bankers aggressive exploration
approach, we intend to simultaneously drill on three concessions
being the Kankutu, Kabolela, and 292 permits. Bankers can implement
these drill programs due to the exploration work completed during
the last 8 months in the DRC. We are excited to be drill testing
these well-located permits".
Kankutu Project
Bankers has started Reverse Circulation drilling ("RC") at the
Kankutu Project located south of Lubumbashi and within 3 kms of the
operating Kimpe cobalt and copper mine. This drilling is being
conducted based on positive geochemical and geophysics results. The
drilling program is planned for 1250 meters and may be adjusted
based on results received.
Kabolela Project
RC drilling is expected to commence on the Kabolela permit
within the next few days as a drill has been mobilized to the site.
Drilling will initially focus on the large dump located close to
the southern property boundary to determine the grade distribution
within the dump. Drilling is also planned on the south-central area
of Kabolela to test zones that returned elevated soil sampling
results. The drilling program is planned for 1100 meters and may be
adjusted based on results received.
292 Project
Trenching at 292 has intersected a zone with elevated copper,
cobalt and silver in trench grab samples at the western end of the
license area. The anomalous zone is hosted in and proximal to a
silicified breccia with open space fill. Infill trenching to date
has intersected the same breccia zone up to 150m along strike. The drilling program is
planned for 1600 meters and may be adjusted based on results
received.
Additional Exploration Activity
Auger drilling has commenced on the Mamba and Green Mamba
licenses which are directly along strike from African Battery
Metals (ABM) Kasinka Project, approximately 40km east of
Lubumbashi. These permits are in an area with 7 producing
cobalt/copper mines within a 40km radius of the licenses. Auger
drilling is also planned to start next month on several other
licenses which are located along known highly prospective
mineralized corridors to accelerate the exploration work in the DRC
during the dry season. Bankers uses auger drilling as a preliminary
exploration tool on licenses having thick over burden to obtain
reliable geochemical samples. The auger drill holes average 9
meters in depth to reach bedrock.
Qualified/competent person -- National Instrument 43-101 and
JORC Code
The geological information in this announcement has been
reviewed by Mr. Adam Anderson,
Member of the Australian Institute of Geoscientists (AIG), a
competent person (as defined in the JORC code, 2012 edition) and
(being a recognized professional organization for the purposes of
the Australian Securities Exchange listing rules). Mr. Anderson is
also the Qualified Person as defined by National Instrument 43-101
who has reviewed and approved the contents of this news
release.
Mr. Anderson is the DRC Exploration Manager for Bankers. He has
sufficient experience that is relevant to the style of
mineralization, the type of deposit under consideration and to the
activity being undertaken to qualify as a competent person as
defined in the JORC Code and under National Instrument 43-101.
About Bankers
Bankers is a natural resource company focused on the
acquisition, exploration and development of cobalt and copper
mineral properties in the DRC to world-class Canadian standards. As
battery production for EV's surges, demand for cobalt will probably
exceed supply for many years. According to a recent report by
Transparency Market Research, global sales of lithium-ion batteries
are expected to reach US$70B by 2024,
for a compound growth rate of 11.6% over the years beginning in
2016. Bankers hold rights to 26 separate mineral concessions
strategically located in the southern DRC Copperbelt and having a
total area of more than 391 km². Bankers has the intention to
acquire interests in additional concessions. All concessions were
obtained as either new grants or through reputable DRC partners and
have clean title with no government involvement, making Bankers one
of the few, and perhaps only, junior public mining company in the
DRC to have 26 concessions capable of being currently explored.
Bankers has an experienced operations team operating in the
southern CopperBelt of the DRC. Bankers believes it is the front
runner in advancing cobalt and copper exploration by a junior
mining company in the DRC.
On behalf of the board of bankers cobalt corp.
"Stephen Barley"
Chairman & CEO
Reader Advisory
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release contains "forward-looking
information" within the meaning of applicable
securities laws including statements relating to the outlook of the
business of the Corporation, the Corporation's
intention to acquire additional concession, the
Corporation's ability to explore and develop the
concessions, the results of any development and exploration, the
ability of the Corporation to meet standards for verifiable supply
chain custody, and the Corporation's status as a
leader in the junior mining sector for cobalt and copper in the
DRC. Although the Corporation believes considering the experience
of its officers and directors, current conditions and expected
future developments and other factors that have been considered
appropriate, that the expectations reflected in this
forward-looking information are reasonable, undue reliance
should not be placed on them as the Corporation can give no
assurance that they will prove to be correct. Actual results and
developments may differ materially from those contemplated by these
statements. The statements in this news release are made as of the
date of this release. The Corporation undertakes no obligation to
comment on analyses, expectations or statements made by
third-parties in respect of the Corporation its securities, or its
financial or operating results.
For further information:
Phone: +1-604-684-6730
Email: info@bankerscobalt.com
Website: http://www.bankerscobalt.com
SOURCE Bankers Cobalt Corp.