Business
Zimtu Capital Corp. announces Rare Earth Element transaction
Zimtu Capital Corp. announces Rare Earth Element transaction
About this update from Zimtu Capital Corp.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Mar. 12, 2010 (Canada NewsWire Group) -- /CNW/ -- Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the \"Company\" or \"Zimtu\") is pleased to announce that it is participating in Quantum Rare Earth Developments Corp. (TSXv: QRE) (\"Quantum\") and Silver Mountain Mines Corp. (\"Silver Mountain\") acquisition of North East Minerals Pty. Ltd. (\"North East\"), a private Australian company, that owns a 100% interest in the Jungle Well and Laverton Rare Earth Element Projects.For its participation in the transaction, the Company will receive 500,000 common shares of Quantum and C$33,333 following completion of a merger between Quantum and Silver Mountain, and acceptance of the TSX Venture Exchange.Jungle Well and Laverton ProjectsThe Jungle Well and Laverton projects are located in the same mineral field where Lynas Corporation Limited (ASX: LYC) is developing their Mt. Weld Rare Earth deposit. The Mt. Weld project is a significant deposit with a reported resource of 7.7Mt at 12% for 917,000t rare earth oxides. Lynas Corporation Limited is solely focused on the deposit and has a current market capitalization of approximately A$800 million.The Jungle Well Project is hosted within granted exploration license EL 29/679 and is located 150km west of the Mt. Weld deposit. The Laverton Project is hosted within exploration license application EL 38/2374 and located 45km north of the Mt. Weld deposit.Zimtu continues to evaluate and acquire prospective resource properties to make available for sale or joint venture. As part of the Company's business, Zimtu provides mineral property advisory services and helps to connect companies with mineral properties of interest.For additional information on our mineral property advisory services, and opportunities available, contact Ryan Fletcher, Corporate Development at 604.681.1568 or via email at [email protected] has also become active in social media channels in order to meet its shareholders and investors online to share information, thoughts and opinions. Become a fan of Zimtu Capital Corp. on Facebook or follow us at http://www.twitter.com/ZimtuCapital to receive live updates and feeds on the Company.About Zimtu Capital Corp.-------------------------Zimtu Capital Corp. is a TSX Venture listed investment company that invests in, creates, and grows natural resource companies t...