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Deep-South Resources Closes the Licence Agreement with Alexander Mining for a Leaching Technology for the Kapili Tepe Project in Turkey
(via TheNewswire) Vancouver, B.C., Canada / TheNewswire / May 8, 2019 ...
About this update from Koryx Copper S.a.
[{"type":"text","content":"Deep-South Resources Closes the Licence Agreement with Alexander Mining for a Leaching Technology for the Kapili Tepe Project in Turkey(via TheNewswire)\n \n \nVancouver, B.C., Canada / TheNewswire / May 8, 2019 - Deep-South Resources Inc. (\"Deep-South\" or \"the Company\") (TSX-V: DSM) announces that it has closed the licence agreement (\"Agreement\") with Alexander Mining (\"Alexander\"), to acquire a licence for the potential use of Alexander's proprietary Leaching Technologies (\"Leaching Technologies\") at the Kapili Tepe polymetallic copper project (\"KT Project\") in the Sivas Province in the northeast/ central part of Turkey. The Agreement was conditional on Deep-South completing the acquisition of a 75 per cent equity interest in the Kapili Tepe Project, which has been closed and announced on May 7, 2019.\n\n \n \nAbout the licence agreement\n\n \n \nAlexander has granted Deep-South a licence for the potential use of its Leaching Technologies on amenable mineralised materials sourced from the Kapili Tepe Project and also associated mineral processing technical consultancy services on the following key terms:\n\n\n \n\n\nI.Alexander will receive a royalty of 2.5 per cent. of gross saleable metal products produced from a potential mining operation at the Kapili Tepe Project, if using Alexander's Leaching Technologies. \n\n\n\n \n \n\n\nII.Upon completion of Deep-South's acquisition of the 75 per cent interest in the Kapili Tepe Project and approval from the TSX Venture Exchange, Deep-South shall issue 500,000 common shares to Alexander. \n\n\n\n \n \n\n\nIII.For an initial period of 24 months from the start of Deep-South formally committing to a PEA of the Kapili Tepe Project, to be renewed on a mutually acceptable rolling three months' basis thereafter, a monthly technical consultancy services retainer fee of US$7,500, paid in advance. \n\n\n\n\n \nAbout the Kapili Tepe project\n\n\n \nThe Kapili Tepe Project is a copper mineralised altered and brecciated shear zone also containing nickel, cobalt and gold mineralisation. The Kapili Tepe Project comprises one Mining Licence and two Exploration Licences, which are contiguous. The licensed area covers approximately 5,240 hectares. For more information about the project, please follow this link: https://www.deepsouthresources.com/investors/news-releases/deep-south-resources...