Quarterly Activities Report
- Maiden Joint Venture drilling program underway in the Kalahari Copper Belt, Botswana; and
- Initial results from diamond drilling confirm the existence of D'Kar Formation in the fold structures mapped in the Airborne Electromagnetic modelling.
- Completion of the Internal Optimisation Study at Perrinvale; and
- Field exploration ongoing to identify new targets for drilling.
- Modelling of the HTDEM survey data has identified 14 new prominent "late-time" conductive anomalies associated with the margins of interpreted mafic/ultramafic rock units; and
- Armada is well-funded with ~US$2.25 million in pre-IPO capital, and is well advanced, and on track for a planned ASX listing.
- Approval received from Shareholders to acquire a 51% controlling interest in Kalahari Metals Limited; and
- Successful capital raising of A$6.7m via a two tranche placement.
The Company also completed the first stage of its acquisition of a controlling interest in Kalahari Metals Limited (KML), a copper exploration JV company in the highly prospective Kalahari Copper Belt (KCB) in Botswana, following the approval of shareholders at the Extraordinary General meeting held on 6 April 2021 and also undertook a A$6.7m two tranche capital raise.
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About Cobre Limited
Cobre Limited (ASX:CBE) is a copper and base-metals explorer with projects in Western Australia and Botswana. The Company recently discovered a new high-grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia, and is currently exploring approximately 8,100 km2 of tenements within the Kalahari Copper Belt (KCB) in Botswana.