Northern Cobalt acquires nine lithium tenements
Northern Cobalt announced that all the conditions precedent to the acquisition of nine (9) tenements in the Arunta region in the Northern Territory have now been met and Ministerial approval has been granted to transfer 100% interest in the tenements to Northern Cobalt. Northern Cobalt’s geologists are travelling to site to commence mapping and sampling early next week.
Details of the transaction
- Northern Cobalt has issued 600,000 fully paid ordinary shares to Gempart (NT) Pty Ltd (and nominee) to acquire a 100% interest in the 9 (nine) tenements
- The share issue has been made under the Company’s 15% placement capacity under listing rule 7.1
- Complementary project to the advanced Wollogorang Cobalt Project
- Prospective for strategic metals including Li-Cs-Ta, REE (La-Ce)-Y-Nb and Co
The Exploration Results have not been reported in accordance with the JORC Code 2012;
a Competent Person has not done sufficient work to disclose the Exploration Results in accordance with the JORC Code 2012;
it is possible that following further evaluation and/or exploration work that the confidence in the prior reported Exploration Results may be reduced when reported under the JORC Code 2012;
nothing has come to the attention of the Company that causes us to question the accuracy or reliability of the former owner’s Exploration Results; and
the Company has not independently validated the Exploration Results and therefore is not to be regarded as reporting, adopting or endorsing those results.