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BeMetals Delivers Significant Copper Intersection at Pangeni Project in Zambia and Announces Closing of $2 Million Convertible Debenture
VANCOUVER, BC / ACCESSWIRE / January 9, 2024 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(Frankfurt:...
About this update from Bemetals Corp.
[{"type":"text","content":"BeMetals Delivers Significant Copper Intersection at Pangeni Project in Zambia and Announces Closing of $2 Million Convertible DebentureVANCOUVER, BC / ACCESSWIRE / January 9, 2024 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(Frankfurt:1OI.F) (the \"Company\" or \"BeMetals\") is pleased to announce results of drill hole D22-C1 at the D-Prospect of the Pangeni Copper Project. The Company also reports completion of the 2023 phases of drilling at the Kato and Todoroki projects in Japan. In addition, BeMetals has closed a C$2 million convertible debenture private placement funding with strategic investor B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) (\"B2Gold\"), as part of a funding package previously announced on August 1, 2023.Highlights:Pangeni Copper Project: D-Prospect: Drill hole D22-C1 intersected 18.10 metres grading 0.70% CopperThe copper intersection has a grade that exceeds the grades of certain operating, large-scale, copper mines in the Domes Region of the Zambian Copperbelt (1) (2) and has a width similar to mineralized units in these deposits (3)This copper intersection is open along strike to the southwest and west, and both up and down dip beneath the Kalahari sand coverKazan Gold Project: The 2023 phase of drilling has been completed at the Kato Project and the Company also completed its two planned drill holes at the Todoroki ProjectNote: Table 1 below provides details of this and other intersections in drill hole D22-C1. Notes (1) (2) (3) referenced and detailed in Pangeni Copper Project section below.John Wilton, President and CEO of BeMetals, stated \"We are very pleased and excited by the results from drill hole D22-C1 at the Pangeni Copper Project in Zambia. These new results, including 18.10 metres grading 0.70% copper confirm the pedigree of the geological setting, and highlight similarities to known mined deposits in the Domes Region of the Zambian Copperbelt. These factors illustrate the potential for the D-Prospect to deliver, with additional successful exploration drilling, a significant zone of copper mineralization. Importantly, this copper interval is open along strike to the southwest and west, and both up and down dip beneath the Kalahari sand cover.This D22-C1 intersection reinforces the targeted tier one discovery potential of the Pangeni Copper Project. Further observation and interpretati...