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CGrowth Capital Inc. Granted 7 New Prospecting Licenses by The Ministry of Minerals and Mining Commission of Tanzania
CGrowth Capital Inc. Granted 7 New Prospecting Licenses by The Ministry of Minerals and Mining Commission of Tanzania.
About this update from Cgrowth Capital, Inc.
[{"type":"text","content":"\n NEW YORK, NY, Dec. 08, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – CGrowth Capital Inc. (OTC: CGRA) is a public holding company for alternative and undervalued assets. The company is sector and industry agnostic and currently consists of two divisions including Sports Technology and Mining. The company is focused on investing in growth-oriented opportunities where the company’s capital, expertise, and capabilities can help create significant added value for shareholders. In early 2023, CGrowth Capital Inc. (CGRA) successfully acquired rights to 54 individual land tenements in Tanzania, along with applications for prospecting licenses aimed at exploring potential lithium reserves. The acquisitions were driven by evidence-based research, which indicated the presence of significant lithium deposits on these tenements. The company is now pleased to announce that results of initial surveys and reports on these tenements have significantly surpassed expectations. At this point, the company can announce that 7 of the 54 tenements have exceeded expectations. Following this encouraging development, CGRA is proud to confirm that it has been officially granted a four-year prospecting license by the Ministry of Minerals and the Mining Commission of the United Republic of Tanzania, covering all 7 selected areas which span a total of 189.30 square kilometres. The granting of these four-year prospecting licenses by the Tanzanian authorities not only validates CGRA's successful initial surveys, but also provides the company with the necessary legal and regulatory approval to continue exploration unimpeded and without pause for the next four years. Shareholders can also expect additional announcements on the award of further licences within the coming weeks. Nicolas Link, Chairman of CGRA noted, “This marks completion of the pre-discovery phase for our company's lithium mining project, with transition into the value-enhancing discovery phase already underway. This critical juncture signifies a shift from initial exploratory activities, such as securing necessary prospecting licenses and identifying potential mining locations, to intensive exploration efforts aimed at accurately locating and quantifying lithium deposits. For our shareholders, this progression represents a significant reduction in investment risks, as it bring...