Zimtu Capital Corp. enters into agreement for rare earth element project
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The companies have agreed to jointly identify and acquire rare earth element projects in British Columbia and the Yukon to make available for sale or joint-venture. Zimtu and C&C will both contribute to the acquisition costs of the properties identified. Zimtu will also commit
Several properties covering a total of approximately 32,000 hectares have initially been staked by the companies. The properties were selected after an assessment of geological environments prospective for rare earths and a detailed review of government stream and lake sediment geochemistry databases. Targets were then refined using geology, airborne magnetics, known mineral prospects, access, and land use considerations. An emphasis was placed on targets enriched in the heavy rare earth elements.
The joint-venture will benefit from the combined talents of Zimtu and Mike Cathro, M.Sc P.Geo and
Mike Cathro is a Kamloops-based geological consultant and currently serves as Vice President of Exploration for Virginia Energy Resources Inc.
There is currently a high degree of interest in, and anticipated future growth for, rare earth element exploration. Rare earths are vital components in a variety of technologies - electronics, aerospace, military, automotive, clean-tech and renewable energy - and include the 15 lanthanide elements and yttrium and scandium. In many applications they have no substitutes.
As part of the Company's business model, Zimtu provides mineral property advisory services and helps to connect companies with mineral properties of interest. For information on our mineral property advisory services, and projects available, contact
About Zimtu Capital Corp. -------------------------
Zimtu Capital Corp. is a TSX Venture listed investment company that invests in, creates, and grows natural resource companies thereby providing a way for investors to participate and profit in the public company building process. The Company also provides mineral property advisory services helping to connect companies to properties of interest.
On Behalf of the Board of Directors ZIMTU CAPITAL CORP. "David Hodge" ------------- David Hodge President & Director Phone: (604) 681 1568 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include the joint identification and acquisition of rare earth element projects in British Columbia and the Yukon by Zimtu and C&C to make available for sale or joint-venture; that Zimtu and C&C will both contribute to the acquisition costs of the properties identified; that Zimtu will commit
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices.
Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information: Kevin Bottomley, Shareholder Services, Phone: (604) 681-1568, Email: [email protected], Website: http://www.zimtu.com
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