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28 Mar 2018 07:00
Blenheim Natural Resources plc / EPIC: BNR / Market: AIM / Sector: Investing Company
28 March 2018
Blenheim Natural Resources Plc
("Blenheim" or the "Company")
Fourth Cobalt Licence in Cameroon Confirmed
Blenheim Natural Resources Plc, the AIM-quoted investing company, is pleased to confirm (further to the announcement on 13 March 2018) the grant of a fourth exploration licence, the 460 sq km N'Golia East licence, by the Ministry of Mines in Cameroon, to a wholly owned subsidiary of Cobalt Blue Holdings ("CBH") following the satisfaction of all due diligence requirements. Blenheim currently holds a 25% interest in CBH (see announcement of 30 November 2017).
As with the other licences held by CBH, the N'Golia East licence is located in a region highly prospective for cobalt and associated minerals. The licences are contiguous to the Nkamouna and Mada deposits in the Haut-Nyong divisions, where previous studies indicated a total 59.8 million tonnes (Mt) grading an average of 0.24% cobalt, 0.68% nickel and 1.37% manganese. CBH, through its subsidiary, has an application for a further exploration licence in the region which, together with the four granted licences, cover an area of 2,837 sq km.
Further information on the licences and opportunity can be found on the Company's website at https://www.blenheimnaturalresources.com/investments/cobalt-blue-holdings.
Blenheim Executive Chairman Charlie Wood said, "A key component of Blenheim's strategy is to build an investment portfolio centred around technology metals and the development of Cobalt Blue Holdings' cobalt exploration portfolio is representative of this. There are strong market fundamentals and high demand for cobalt and the Board believes that CBH is in an excellent position to take advantage of this positive climate.
"We look forward to updating shareholders further regarding developments within the cobalt portfolio as well as news from our other investments including the Company's highly prospective lithium licences where drilling is due to commence shortly, and its investment in leading global cyber-security company BrandShield."
**Ends**
For further information please visit www.blenheimnaturalresources.com or contact:
Charlie Wood | Blenheim Natural Resources Plc | +44 (0)207 236 1177 |
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Neil Baldwin/Andrew Emmott | Spark Advisory Partners Limited (Nominated Adviser) | +44(0)203 368 3554 |
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Nick Emerson Frank Buhagiar/Gaby Jenner | SI Capital Ltd (Broker) St Brides Partners Ltd | +44 (0)1483 413500 +44 (0)207 236 1177 |
Notes to Editors:
Blenheim Natural Resources Plc is an investing company, quoted on the AIM market of the London Stock Exchange, with a strategy focused on identifying and investing in opportunities in mineral exploration and mining, as well as technology associated with the natural resources sector. The Company has an experienced Board of Directors with a proven pedigree in the acquisition, development & sale of projects and creating value for shareholders. The investment mandate covers unquoted and quoted businesses, as well as direct project investment.
The Company currently has investments in a number of companies which provide exposure to commodities which are relevant to the rapidly growing technology metal sector, including lithium, cobalt and nickel, as well as strategic positions in a geoscience consultancy and BrandShield, a leading international company in the online brand protection, anti-counterfeiting and anti-fraud sector, which has developed the one of the most comprehensive systems using AI powered cyber intelligence systems and is developing its proprietary blockchain-based platform for anti-fraud purposes.
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