October 4, 2018
Vancouver, BC – Bankers Cobalt Corp. (TSXV: BANC) (OTCQB:NDENF) (the “Corporation” or “Bankers”), is pleased to announce high grade copper and silver assay results from grab samples on the Kamanjab Project, Republic of Namibia. The entering into a 70% option agreement on the Kamanjab Project was announced in a news release dated July 26, 2018.
5.5% copper and 3 g/t silver
24.60 % copper and 98 g/t silver
16.60% copper and 239 g/t silver
Grant Dempsey, President and COO of Bankers stated: “We are extremely excited about the high-grade results obtained from this preliminary assessment of the Kamanjab Project. The project has visible copper over a large area at surface. The significant size of the license at 135 km² gives the project the necessary area to have the potential for a major discovery. The mineralization at the Kamanjab Project is a supergene style of high-grade copper oxide mineralization at surface and suggests the potential for high grade oxide or sulphide mineralization at depth. The widths and strike extent will be further defined with surface work programs planned for 2018. Namibia is a politically stable country with excellent infrastructure for mining and the Kamanjab Project is in a semi-arid region of Namibia and is readily accessible for year-round exploration and development activity. Bankers primary focus will remain on the DRC portfolio of projects.”
Table 1 Kamanjab Project Grab Samples ( click here to see attached maps and pictures)
|Sample ID||North UTM||East UTM||Description||Group||Silver g/t||Copper %|
Grab samples are selective in nature and are not necessarily representative of mineralization hosted on the property.
About Kamanjab Project Namibia
The Kamanjab Project is a 135km2 Exclusive Prospecting License located approximately 500km north of Windhoek, the capital of Namibia and 90km from the town of Kamanjab. The project is prospective for copper, silver and other base metals. During a site visit in early August 2018, a total of 7 grab samples were taken and sent to ALS Laboratories in Johannesburg South Africa for ICPMS multi-element analysis.
The results show potential for a large high-grade supergene copper zone to be present in the Dolomite sequence at Kamanjab. The Malachite-Chrysocolla mineralization in the samples varies in intensity, however the visible copper mineralization in Zone A is approximately 40m in width. The Dolomite sequence that hosts the copper-silver mineralization extends continuously to zone B for about 7km of strike making the area very prospective for copper and silver. Further work is planned in 2018 to determine the possible widths and strike length.
Qualified and Competent Person — National Instrument 43-101 and JORC code
The geological information in this announcement has been reviewed by Mr. Adam Anderson, Member of the Australian Institute of Geoscientists (AIG), a competent person (as defined in the JORC code, 2012 edition) and (being a recognized professional organization for the purposes of the Australian Securities Exchange listing rules). Mr. Anderson is also the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release.
Mr. Anderson is the Exploration Manager for Bankers. He has sufficient experience that is relevant to the style of mineralization, the type of deposit under consideration and to the activity being undertaken to qualify as a competent person as defined in the JORC code and under National Instrument 43-101.
Bankers is a natural resource company with a primary focus on the acquisition, exploration and development of cobalt and copper mineral properties in the DRC to world-class Canadian standards. Bankers has acquired an option on a 135 km² license in Namibia with the potential for copper, cobalt and other metals. As battery production for EV’s surges, demand for cobalt will probably exceed supply for many years. According to a recent report by Transparency Market Research, global sales of lithium-ion batteries are expected to reach US$70B by 2024, for a compound growth rate of 11.6% over the years beginning in 2016. Bankers holds rights to 26 separate mineral concessions strategically located in the southern DRC Copperbelt and having a total area of more than 391 km². Bankers has the intention to acquire interests in additional concessions or relinquish concessions in the normal course of business. All concessions were obtained as either new grants or through reputable DRC partners and have clean title with no government involvement, making Bankers one of the few, and perhaps only, junior public mining company in the DRC to have 26 concessions capable of being currently explored. Bankers has an experienced operations team operating in the southern CopperBelt of the DRC. Bankers believes it is the front runner in advancing cobalt and copper exploration by a junior mining company in the DRC.
ON BEHALF OF THE BOARD OF BANKERS COBALT CORP.
Chairman & CEO
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” within the meaning of applicable securities laws including statements relating to the outlook of the business of the Corporation, including statements relating to results obtained from the preliminary assessment of the Kamanjab Project, drilling and soil sampling programs, timing, execution and results of such programs, the Corporation’s intention to acquire additional concession, the Corporation’s ability to explore and develop the concessions, the results of any development and exploration, the ability of the Corporation to meet standards for verifiable supply chain custody, and the Corporation’s status as a leader in the junior mining sector for cobalt and copper in the DRC. Although the Corporation believes considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them as the Corporation can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this news release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation its securities, or its financial or operating results.