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Name Change to New Energy Metals Corp. Effective Today; Acquisition of Cobalt Projects in Chile
Vancouver, British Columbia--(Newsfile Corp. - April 4, 2018) - Darien Resource Development Co...
About this update from New Energy Metals Corp.
[{"type":"text","content":"Name Change to New Energy Metals Corp. Effective Today; Acquisition of Cobalt Projects in ChileVancouver, British Columbia--(Newsfile Corp. - April 4, 2018) - Darien Resource Development Corp. announces that its name change to \"New Energy Metals Corp.\" (\"New Energy Metals\" or the \"Company\") and new trading symbol (TSXV: ENRG) are effective as of today. The Company also announces that it has entered into option agreements (the \"Agreements\") to acquire a 100% interest in two cobalt exploration projects (the \"Projects\") located within Chile's past-producing San Juan cobalt district. The Projects are located in a readily accessible region that is noted for the occurrence of high grade cobalt mineralization. The Company is currently negotiating to secure several additional cobalt exploration properties in prospective regions of the San Juan Cobalt District.New Energy Metal's President and Chief Executive Officer, Grant Ewing, said \"These cobalt acquisitions are important additions to our asset base, which is now comprised of cobalt and copper exploration projects in Chile. Both commodities are consistent with our new focus on the growing 'energy metals' sector. Based on the historical records from the San Juan cobalt district and the fact that very limited exploration has been conducted in the region in more than 60 years, we view the potential for the discovery of primary cobalt deposits as very good.\" Cobalt Project HighlightsIn November 2017, Chile's Corporation for the Promotion of Production (\"CORFO\") and the Chilean National Service of Geology and Mining (SERNAGEOMIN) published a report that reviewed the cobalt mineral resources in Chile. Meaningful primary cobalt production has historically been developed in two districts in Chile, one of which is the San Juan cobalt district in the Atacama Region. The Company reviewed available regional and district-scale datasets in the San Juan cobalt district and selected the Projects based on geological characteristics, abundance of historic workings, evidence of mineralization, and proximity to past production. The Company's initial exploration focus on the Projects will center on compilation of historical data, regional mapping and prospecting, and sampling to identify priority areas for follow up work. The Projects occur on the same trend and in close proximity to the pas...