London based sustainable battery metals specialist acquires “significant” US foothold

London headquartered Technology Minerals has announced that its wholly owned subsidiary Techmin Limited has acquired 100 per cent interest in the Blackbird Creek Property in Lemhi County, Idaho (USA) from DG Resource Management Ltd (“DGRM”), a corporation located in Alberta, Canada.

The acquisition adds 158 contiguous lode claims covering an area of approximately 1,285 hectares (3,175 acres) to the company’s existing land position, located immediately southeast of Jervois Mining Ltd’s Idaho Cobalt Operations (“ICO”).

ICO is expected to be operational this year and will be the United States first primary cobalt mine in decades. The Blackbird Creek Property is situated within the Idaho Cobalt Belt (“ICB”), a 60 km long metallogenic district characterised by stratiform/tabular copper-cobalt deposits.

Principal acquisition terms firstly comprise a cash payment, which was completed last year, of CAD$100,000 (approx. £59,057 at current conversion rates), in addition to CAD$800,000 (approx. £472,499) to be paid by the issue of 21,013,440 new ordinary shares in Technology Minerals priced at the admission price of £0.0225 per share.

Alex Stanbury, chief executive officer of Technology Minerals, said: “We are pleased to complete the acquisition of the Blackbird Creek Property, a project covering 1,285 ha that sits in the Idaho Cobalt Belt and has the potential to host significant cobalt-copper deposits.

“The Blackbird Creek Property forms part of our exploration strategy to advance assets up the value chain with the aim of creating additional value in the Company for our shareholders.”