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Deep-South Resources Acquires 75% of Kapili Tepe Polymetallic Project in Turkey
Wednesday 15 May 2019

15 May 2019 - Canada-based Deep-South Resources, Inc. (DSR), a mineral properties exploration and development company, has closed on the acquisition of 75% of Turkey based Kapili Tepe, a copper, nickel and gold project (KT Project), the company said.
Details of the financial transaction were not disclosed.
The KT Project is primarily a copper mineralised altered and brecciated shear zone also containing nickel, cobalt and gold mineralisation. The KT Project comprises one Mining Licence and two Exploration Licences, which are contiguous. The licensed area covers approximately 5,240 hectares (52.40km2).
DSR 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 potential construction of a mine.
Both the PEA and PFS work will include investigating a mineral processing plant at the KT Project using the Leaching Technologies.
UK-based Alexander Mining plc, a mining and mineral processing company, has granted DSR a licence for the potential use of its Leaching Technologies on amenable mineralised materials sourced from the KT Project and also associated mineral processing technical consultancy services on the following key terms:
Alexander will receive a royalty of 2.5% of gross saleable metal products produced from a potential mine at the KT Project, if using Alexander's Leaching Technologies. Upon completion of DSR's acquisition of the 75% interest in the KT Project and approval from the TSX Venture Exchange, DSR shall issue 500,000 common shares to Alexander.
Details
Date Published: 15/05/2019
Target: Kapili Tepe project/75%
Country: Turkey
Sector: Metals/Mining
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Deep-South Resources, Inc
Comment:
Terms of the deal were not disclosed

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