First Cobalt is pleased to announce that it has entered into a letter of intent with Kuya Silver Corporation to sell a portion of its silver and cobalt mineral exploration assets in the Canadian Cobalt Camp and form a joint venture to advance the remaining mineral assets.
SHANGHAI, Dec 22 (SMM) – First Cobalt is pleased to announce that it has entered into a letter of intent with Kuya Silver Corporation to sell a portion of its silver and cobalt mineral exploration assets in the Canadian Cobalt Camp and form a joint venture to advance the remaining mineral assets.
The transaction will allow the two companies to resume mineral exploration activities in a historic silver district while providing First Cobalt capital for the recommissioning of its Canadian refinery.
Kuya to acquire First Cobalt’s exploration assets in Ontario
The Kerr Assets include eight historic silver mines on a contiguous 900-hectare area.
(Image courtesy of First Cobalt).
Kuya Silver (CSE: KUYA) announced that it has entered into a letter of intent with First Cobalt (TSXV: FCC) to purchase a portion of its silver mineral exploration assets – known as the Kerr assets – in northeastern Ontario, Canada.
The idea behind the purchase is also to create a joint venture on the balance of First Cobalt’s silver mineral assets in the camp. The transaction will allow Kuya access to explore the largest package of properties in the Cobalt camp.