Business
White Metal Provides Update on Namibian Copper-Silver Property and Welcomes New Chief Financial Officer
Thunder Bay, Ontario--(Newsfile Corp. - January 20, 2020) - White Metal Resources Corp. (TSXV...
About this update from Thunder Gold Corp.
[{"type":"text","content":"White Metal Provides Update on Namibian Copper-Silver Property and Welcomes New Chief Financial OfficerThunder Bay, Ontario--(Newsfile Corp. - January 20, 2020) - White Metal Resources Corp. (TSXV: WHM) (\"White Metal\" or the \"Company\") announces that it has granted natural resources investor RZJ Capital Management LLC (\"RZJ\") a three month extension of time in regards to the previously announced binding Letter of Agreement (\"LOA\") with respect to certain licenses that comprise the Dorwit Copper-Silver Property (the \"Property\"), located in Namibia. Under the LOA, RZJ has the right to purchase 70% of White Metal's 100% owned private Namibian company Aloe 237 which holds title to Exclusive Prospecting Licences (EPL 7028, 7029 and 7030), comprising the Property (see Company news release dated October 16, 2019). The partners, RZJ and White Metal, will work towards the signing of a definitive agreement in the near future.About the DorWit Copper-Silver PropertyExclusive Prospecting Licences 7028, 7029, and 7030 (DorWit Property), are located about 150 km east of capital city of Windhoek, Namibia and cover about 65 km of prospective stratigraphy in the Kalahari Copper Belt which extends eastward into Botswana where several major copper deposits occur and are being financed at present (e.g., Cupric Canyon Capital news release dated February 25, 2019). Six historical copper deposits occur within these three licences along with other zones with anomalous copper in historical drill core intercepts which the Company believes can be expanded upon through future exploration (see Company news release dated June 18, 2019).New Chief Financial OfficerIn addition, the Company announces the resignation of Matt Witiluk as CFO and thanks him for his service and contributions to the Company and wishes him well in his future endeavours. The Company is pleased to announce the appointment of CFO Nikolaos (Nick) S. Tsimidis. Nick is an entrepreneur and a specialist in the financial aspects of real estate investments. He graduated with a Bachelor of Commerce from the University of Toronto in 1987. Upon graduation, he spent 6 years at KPMG in the audit department providing services to a variety of clients. In September 1993, Nick left KPMG to set up his own chartered accounting firm, focusing on tax and financial planning. Nick is the CFO and the P...