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Proposed Sale of 10% Interest in US Projects
Proposed Sale of 10% Interest in US Projects.
About this update from Technology Minerals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5376K\n Technology Minerals PLC\n 06 May 2022\n \n \n \n \n The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the \"UK MAR\") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. \n \n \n \n \n \n 6 May 2022\n \n \n Technology Minerals Plc\n \n \n (\"Technology Minerals\" or the \"Company\") \n \n \n \n \n \n Memorandum of Understanding re:\n \n \n Proposed Sale of 10% Interest in US Cobalt/Copper Properties for £900,000\n \n \n Technology Minerals (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that it has signed a Memorandum of Understanding (\"MOU\") for the Proposed Sale (\"Proposed Sale\") of an initial 10 per cent interest in the Company's registered claims in its wholly owned US cobalt/copper projects;\n the Blackbird Creek Project and Emperium Project (collectively \"the Properties\"), \n Lemhi County, Idaho, United States of America, \n to Bluebird Metals LLC (\"Bluebird\" or \"the Buyer\") \n for a cash consideration of £900,000. The MOU is legally binding in certain material respects.\n \n \n \n \n \n Background: Blackbird and Emperium Projects\n \n \n \n \n \n The Blackbird Creek Project is located within the Idaho Cobalt Belt (\"ICB\"), a 60 km long metallogenic district characterised by stratiform/tabular Co-Cu deposits. The ICB is hosted in the Mesoproterozoic Belt Supergroup (1,470 Ma and 1,370 Ma), juxtaposed between later Proterozoic (1,370 Ma) quartz monzonitic intrusions. \n \n \n \n \n \n The Emperium Project covers approximately 55km² in east-central Idaho, making it one of the largest land positions in the Idaho Cobalt Belt. To date, there has been limited exploration conducted on the property in the form of lithogeochemical (rock) sampling, and satellite image interpretation.\n \n \n \n \n \n Technology Minerals registered claims in the Properties comprise:\n \n \n · \n 158 register...