PERTH OFFICE

945 Wellington Street,
West Perth, WA 6005,
Australia.

E: info@gtgraphite.com.au
T: +61 8 9322 7600
F: +61 8 9322 7602

E: info@batteryminerals.com.au

Krossou Zinc

KROSSOU ZINC

The company entered into an Earn In-Agreement with Trek Metals Limited (formerly Zambezi Resources) on 2 November 2016 and was announced on the ASX platform on this date..

The terms are summarised below;

  • Trek has the ability to earn up to a 70% interest in the Kroussou Project under the Agreement, as follows;
  • Trek to fund an initial drill program at the Project up to US$250,000;
  • Should it elect to exercise its Option prior to 31 July 2017, it will pay BAT US$240,000 in cash and/or shares and secure the right to earn 30% of the Project via the expenditure of US$1m within 12 months of exercise date;
  • Trek may earn a further 40% of the Project via the expenditure of a further US$3m in the subsequent 24 months.
  • Upon Zambezi earning a 70% interest in the Project, BAT will be free carried to completion of a PFS and will have the option to contribute to a DFS, or dilute its interest.

Full details of the Earn In are detailed in the ASX release on 2 November 2016.

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Figure 1. Kroussou basic geology map. Reported rock samples are from the Kroussou-Dikaki prospects.

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Figure 2. General Kroussou location map.