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Cobalt Blockchain Inc. Announces Definitive Joint Venture Agreements on Cobalt Projects in the DRC and Filing of Cobalt Trading and Export License
Cobalt Blockchain Inc. Announces Definitive Joint Venture Agreements on Cobalt Projects in...
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[{"type":"text","content":"\n\n\n\nCobalt Blockchain Inc. Announces Definitive Joint Venture Agreements on Cobalt Projects in the DRC and Filing of Cobalt Trading and Export License\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 22, 2018\n\n\n\nTORONTO, March 22, 2018 /CNW/ - Cobalt Blockchain Inc. (the Company or COBC) (TSXV: PET transitioning to TSXV: COBC at the opening of business March 23, 2018) is pleased to announce that it has entered into two definitive joint venture agreements for cobalt / copper concessions in the Democratic Republic of the Congo (DRC) totalling over 48 square kilometers. The Company has also submitted an application to the DRC Ministry of Mines for a cobalt / copper trading and export license.\n\n\n\"The properties announced today represent the initial strategic concessions for our DRC cobalt portfolio,\" said Peter Hooper, Chief Executive Officer of the Company.  \"Beyond acquiring or joint venturing exploration projects with the potential for large-scale, high-grade cobalt deposits, our strategic focus also includes adding projects that have near-surface mineralization and where we can generate early cash flow by responsibly engaging with artisanal and small-scale (ASM) producers.  More than twelve percent of global cobalt production currently originates from ASM operations in the DRC and our announcement today represents another step forward in delivering certified, ethically-sourced cobalt to the market in the near-term.\"  \n\nDRC Cobalt / Copper Concessions\n\nCobalt Blockchain Inc. announces a 70% interest in Alpha Cobalt SAS, a joint venture between the Company and a private local partner.  The two contiguous concessions controlled by Alpha Cobalt SAS contain 48 carrés, totalling 40.8 square kilometers.  The properties are located about 50 kilometers to the east of Kolwezi and 10 kilometers from an operating mine at the Tenke Fungurume project, one of the world's largest cobalt / copper deposits.      \n\nThe Company also announces an 80% interest in Cobalt Blockchain SAS,...