VANCOUVER, Sept. 15 /CNW/ - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce its involvement in two additional mineral property transactions. Zimtu was a property vendor for Butler Resources Corp.'s (TSXv: BTD.H) ("Butler") acquisition of the Archie Lake Rare Earth Property in Saskatchewan as well as Ultra Lithium Inc.'s (TSXv: ULI) (FSE: QFB) ("Ultra") acquisition of the Berland River Lithium Brine Properties in Alberta.
For its participation in the Butler transaction, the Company will receive 1,000,000 common shares and $20,000 subject to exchange approval. For its participation in the Ultra transaction, the Company will receive 1,000,000 common shares and $25,000 subject to exchange approval.
The Archie Lake Rare Earth Property is located approximately 50 km east of Uranium City, Saskatchewan and 50 km south of Great Western Minerals' Hoidas Lake REE Deposit. The historic exploration on the area is summarized in February 1971 assessment reports (not NI43-101 compliant) on file with the Saskatchewan Ministry of Mines. Historic exploration on the property includes an airborne radiometric survey and follow-up prospecting and trenching over one of the anomalies identified. The main showing is postulated to be a paleo-placer type deposit, with monazite crystals constituting up to 50% of the rock in places. The assay reports from the previous exploration showed that ten samples analyzed by spectrographic analysis method showed elevated concentrations of rare earth oxides. Values ranged from 0.1 to 15.7% RE(2)O3 and averaged 4.04% RE(2)O(3).
The Berland River Lithium Brine Properties consist of seven permit applications encompassing approximately 650 square km located approximately 200 km west of Edmonton, Alberta. Within the region, formation waters of the Devonian-aged Woodbend (Leduc) Group as well as the Beaverhill Lake Formation have shown to contain anomalous concentrations of lithium, with values from 75 to 140 mg/l reported.
As part of the Company's business, Zimtu provides mineral property advisory services helping to connect companies with properties of interest. The Company is continually evaluating and acquiring resource properties to make available for partnership. In return, Zimtu acquires equity in a variety of mineral exploration companies.
For additional information on our mineral property advisory services, and opportunities available, contact:
The technical information in this news release has been prepared in
accordance with the Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed on behalf of the company by Neil McCallum,
P.Geol, of Dahrouge Geological, a qualified person.
About Zimtu Capital Corp.
Zimtu Capital Corp. is a TSX Venture listed investment company that
invests in, creates, and grows natural resource companies thereby providing a
way for investors to participate and profit in the public company building
process. The Company also provides mineral property advisory services helping
to connect companies to properties of interest.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
Phone: (604) 681 1568
Fax: (604) 681 8240
Neither TSX Venture Exchange nor its Regulation Services Provider(as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include Zimtu's receiving of shares and/or cash for its role as vendor or finder of certain mineral properties, Zimtu's evaluation and acquiring of properties for partnership and Zimtu's providing mineral property advisory services and assisting to connect companies with mineral properties of interest.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
SOURCE Zimtu Capital Corp.
For further information: For further information: Kevin Bottomley, Shareholder Services, Ph: (604) 681-1568, Email: email@example.com or visit our website http://www.zimtu.com