Vancouver, British Columbia–(Newsfile Corp. – April 3, 2018) – Chimata Gold Corp. (TSXV: CAT) (“Chimata” or the “Company”) announces that it has commenced drilling at the Kamativi Lithium Tailings Project (the “Project“) in Zimbabwe. Drilling is being conducted in order to further define the scope of the lithium deposit on the property, and to understand the economic viability and value of the potential Mineral Resource, as this term is defined in NI 43-101 Respecting Standards of Disclosure for Mineral Projects (“NI 43-101“). The initial auger drilling is fully funded and the program is based on a nominal 100m x 100m drill hole spacing, comprising a total of 1500m of drilling over 75 drill holes covering the Project footprint. Drilling is being undertaken by local Zimbabwean contractor Optimum Drilling Pvt Ltd. The company has engaged MSA to provide independent resource evaluation and oversight on the program.
Results stemming from the successful drill program will add significant, and much more comprehensive, information to the Project’s existing database. The Project comprises a tailings deposit that accumulated over the approximately 40-year life of the Kamativi Tin Mine prior to its closure in 1994. Chimata also reports that through its local partners it has engaged local environmental consultants Green Resources Pvt Ltd to carry out a baseline environmental assessment of the project area concurrent with the auger and assaying program.
Lithium Demand and Electric Vehicle Metals
The Company’s involvement in the Project came about after a lengthy discussion and evaluation process by the board of directors and new local partners in Zimbabwe Lithium Company (Mauritius) Limited (“ZIM“). It was determined that Chimata should leverage its technical knowledge and wide array of international contacts to locate – and ultimately acquire – projects that are highly prospective in areas that are under-explored and under-developed.
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ON BEHALF OF THE BOARD
Chairman and Interim President and CEO
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, or by contacting the Company directly at (604) 674-3145.
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