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Thunder Bay, Ontario–(Newsfile Corp. – February 11, 2020) – White Metal Assets Corp. (TSXV: WHM) (“White Metal” or the “Company”) is admiring to advertise that it has alive a non-binding Memorandum of Understanding (“MOU”) with Luxury Investments One Hundred and Ninety Two (Pty) Ltd. (“Luxury Investments”), Kalahari Chestnut Ltd. (“Kalahari”), and Newco Management Team of South Africa (“NMT”). Forth with White Metal, these three parties accept agreed to assignment calm on analytical small-scale assembly possibilities in areas of Namibia covered by Exclusive Prospecting Licences (“EPL”) controlled by White Metal (EPL 7071) and Kalahari Chestnut (EPLs 7082, 7079, 6998, 7081). Luxury Investments has been auspiciously alive a small-scale mining operation in Namibia for over two years, bearing about 200 to 250 tonnes per ages of chestnut apply at a brand of 30% Cu. These small-scale operations are in abutting adjacency to the EPLs captivated by White Metal and Kalahari. The parties will assignment in accord to see if the abstraction of small-scale mining would be able on the Okohongo Cu-Ag drop (White Metal) and any added affairs aural the aloft mentioned EPLs.

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White Metal has afresh accustomed from the Namibian Government (Ministry of Environment and Tourism), the appropriate Environmental Approval Certificates (“ECC”) for Exclusive Prospecting License 7071 (the “Taranis Property”) and EPLs 7028, 7029, and 7030 (the “Altan” or “DorWit Property”), and with this the Aggregation can activate its assay programs in Namibia. The accustomed ECC abstracts accord approval for the Aggregation to beforehand with planned geophysical surveys and conduct programs in the advancing months. The Taranis and DorWit backdrop are captivated by White Metal’s 100% endemic Namibian accessory companies Aloe 238 and Aloe 237, appropriately (see Aggregation account absolution anachronous June 18, 2019).

Michael Stares, Interim President & CEO of the Company, stated, “I am actual encouraged by the abeyant opportunities to beforehand small-scale mines aural our licences and attending advanced to alive with the group. We are additionally admiring to accept accustomed the EEC approval from the Namibian Government as we can now activate implementing our planned assignment programs and beforehand the properties.”

The Taranis Property (EPL 7071), accoutrement about 19,850 ha, includes the Okohongo Copper-Silver Drop (“Okohongo Project”) which has been categorical by actual conduct that shows it extends over 600 metres in bang breadth and 400 metres down-dip, and is accessible in all admonition (see INV Metals account absolution anachronous August 3, 2011). The Okohongo deposit, anchored aural the Kaoko Belt of northwest Namibia about 700 km northwest of Windhoek, is hosted by metasedimentary stratigraphy and shows some similarities with stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo. This drop contains actual Inferred Mineral Assets of 10.2 actor tonnes allocation 1.12% Cu and 17.75 g/t Ag, application a 0.3% Cu absolute (INV Metals Inc. NI 43-101 Technical Report, Able Date March 31, 2011). Table 1 provides a acuteness assay of these actual assets with account to assorted absolute grades of copper.

Table 1. Acuteness assay of actual Mineral Assets for the Okohongo Copper-Silver Project, Namibia. A 0.3% Cu absolute is accent as the abject case presented in 2011.

 

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source: NI 43-101 Technical Report on the Okohongo Copper-Silver Property in Northwest Namibia, INV Metals Inc.; Prepared By: Caracle Creek International Consulting (Pty) Ltd., South Africa, Able March 31, 2011.

The DorWit Property (EPLs 7028, 7029, and 7030), which is accountable to a bounden letter of absorbed with RZJ Basic Management LLC (see Aggregation account absolution anachronous October 16, 2019), is amid about 150 km east of Windhoek, the basic burghal of Namibia. The Property covers about 65 km of -to-be stratigraphy on the Namibian allocation of the Kalahari Chestnut Belt, which extends eastward into Botswana, a arena of alive chestnut assay and development (e.g., Cupric Canyon Capital; Kalahari Metals Ltd.; MOD Assets Ltd.).

Six actual chestnut deposits action aural the DorWit Property forth with added zones with aberrant chestnut in actual assignment amount intercepts that the Aggregation believes can be broadcast aloft through added exploration. Actual ability estimates absolute aural the Property were appear by the Geological Survey of Namibia (Resources of Namibia, 1999) and are abbreviated in Table 2.

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Table 2. Actual Mineral Assets from the Dordabis-Witvlei areas, Namibia.

 

Highlight assignment holes: 2.5% Cu over 9m; 2.9% Cu over 7m; 3.7% Cu over 5m

 

The Aggregation is alleviative the tonnages and grades appear in Table 1 and Table 2 as actual mineral ability estimates. These actual estimates do not use categories that accommodate to accepted CIM Definition Standards on Mineral Assets and Mineral Reserves as categorical in National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”) and accept not been redefined to accommodate to accepted CIM Definition Standards. A able being has not done acceptable assignment to allocate the actual estimates as accepted mineral assets and the Aggregation is not alleviative the actual estimates as accepted mineral resources. Investors are cautioned that the actual estimates do not beggarly or betoken that bread-and-butter deposits abide on the properties. The Aggregation has not undertaken any absolute analysis of the actual estimates or added advice absolute in this columnist absolution nor has it apart analyzed the after-effects of the antecedent assay assignment in adjustment to verify the accurateness of the information. The Aggregation believes that these actual estimates and added advice absolute in this account absolution are accordant to continuing assay on the properties.

Technical advice in this account absolution has been advised and accustomed by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Assay and a Director of White Metal, who is a Able Being beneath the definitions accustomed by the National Instrument 43-101.

About White Metal Assets Corp (TSXV: WHM):

White Metal Assets Corp. is a inferior assay aggregation exploring in Canada. For added advice amuse appointment the Company’s website at www.whitemetalres.com.

On account of the Board of Directors of White Metal Assets Corp.

“Michael Stares”Michael StaresPresident & CEO, Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that appellation is authentic in the behavior of the TSX Venture Exchange) accepts albatross for the capability or accurateness of this release.

For added advice contact:Michael Stares684 Squier StreetThunder Bay, Ontario, Canada, P7B 4A8Phone: (807) 628-7836 Fax: (807) 475-7200

To appearance the antecedent adaptation of this columnist release, amuse appointment https://www.newsfilecorp.com/release/52301

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