Cohiba Minerals (ASX:CHK) has acquired the remaining 20% of the Olympic Domain tenements in South Australia, freeing the company to focus solely on its highly prospective ground in the mineral-rich Gawler Craton.
Highlights
- The 100% interest in the Olympic Domain tenements will now be formally registered by Cohiba with South Australia’s Department of Energy and Mining.
- The emerging explorer was encouraged to make the move after the discovery of high grade copper and a potential IOCG (Iron Ore Copper Gold) system at its Horse Well Prospect and it will continue to assess more drill targets over coming months.
- Cohiba will issue 40 million fully paid ordinary shares to Olympic Domain with a deemed issue price of $0.005 each and a three-month escrow.
“We are pleased to finally come to this agreement and for the company to own a 100% interest in these Olympic Domain tenements,” CEO, Andrew Graham, said.
“Our goal remains the same, to build significant shareholder value through the identification of one or more IOCG deposits within our tenement package.”
For further information please visit: https://www.cohibaminerals.com.au/
