Deep South Resources6 Jul 2019 16:54
Vancouver, B.C., Canada – June 28, 2018 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSX-V: DSM) announces that it has signed a licence agreement (“Agreement”) with Alexander Mining (“Alexander”), to acquire a licence for the potential use of Alexander’s proprietary Leaching Technologies (“Leaching Technologies”) at the Kapili Tepe polymetallic copper project (“KT Project”) in the Sivas Province in the northeast/ central part of Turkey. The Agreement is conditional on Deep-South completing the acquisition of a 75 per cent equity interest in the Kapili Tepe Project.
The Kapili Tepe Project is a copper mineralised altered and brecciated shear zone also containing nickel, cobalt and gold mineralisation. The Kapili Tepe Project comprises one Mining Licence and two Exploration Licences, which are contiguous. The licensed area covers approximately 5,240 hectares. For more information about the project, please follow this link.
Deep-South proposes to delineate a NI 43-101 Compliant Mineral Resource Estimate and then decide on whether to conduct a Preliminary Economic Assessment (“PEA”), which would be followed by a Pre-Feasibility Study (“PFS”) for the estimation of a potential construction of a mine. Both the PEA and PFS work will include investigating a mineral processing plant at the Kapili Tepe Project using Alexander’s Leaching Technologies.
Alexander has granted Deep-South a licence for the potential use of its Leaching Technologies on amenable mineralised materials sourced from the Kapili Tepe Project and also associated mineral processing technical consultancy services on the following key terms:
Alexander will receive a royalty of 2.5 per cent. of gross saleable metal products produced from a potential mining operation at the Kapili Tepe Project, if using Alexander’s Leaching Technologies.
Upon completion of Deep-South’s acquisition of the 75 per cent interest in the Kapili Tepe Project and approval from the TSX Venture Exchange, Deep-South shall issue 500,000 common shares to Alexander.
For an initial period of 24 months from the start of Deep-South formally committing to a PEA of the Kapili Tepe Project, to be renewed on a mutually acceptable rolling three months’ basis thereafter, a monthly technical consultancy services retainer fee of US$7,500, paid in advance.
DSR shares have risen from 0.06 to 0.95 Canadian dollars in the last 2 weeks ......lets hope they continue to rise on Monday.
Now get this..........on the 24th December 2003 DSR shares were 480.00 Canadian dollars per share !!!!!!!!!!
I'm not saying they will reach anywhere near that price again (but they do have some enormous mega projects just starting) and if they did, that would mean our 500,000 shares alone would be worth 240 Million Canadian dollars !!!!
Even if they ever reach 100th of that former price .....it wouldn't be too shabby at all !!!