BML strikes Nickel deposits

| Friday July 4, 2014 06:59

The company stated this week that both holes intersected significant widths, one of 30 metres and the other 21 metres, of massive, semi-massive and disseminated sulphides. 

 Nickel-copper-platinum mineralisation is hosted in similar zones at Maibele North. 

A Farm-In Joint Venture Agreement with BCL Investments is active for BML’s copper-silver and copper-nickel-platinum projects in Botswana. 

Under the Farm-In Joint Venture Agreement, BCL can spend US$4 million on drilling and exploration to earn a 40% interest in these licenses. 

BCL then has the option to continue to fund the projects to the completion of a Bankable Feasibility Study to earn a 70% interest. 

At that point BCL will have off-take rights to any ore mined at commercial prices.  BCL also has a first right of refusal to participate in exploration on BML’s other prospecting licences in Botswana. 
 The economics of bringing these potential projects to production will be enhanced by the fact that the BCL’s mining and smelting facilities are operational and within trucking distance.