Namibia, Africa Copper

Namibia, Africa
Copper

Many similarities between the Kaoko Copperbelt and Kalahari Copperbelt to the Central African Copper Belt (CACB)

The Central African Copperbelt (CACB) largest and most abundant mineralized sediment-hosted copper province known,with numerous mines and is estimated to contain over 5 billion tonnes of copper ore with grades up to 4%

Sediment-hosted copper deposits are one of the most important source of copper next only to porphyry copper deposits and making up approximately 20% of all copper production.

From 1905 to 1996 Ongopolo Mine (Previously the Tsumeb Mine) in Namibia produced about 30 million tons of ore yielding 1.7Mt copper at 4.3% Cu.

Property Summary

Overview Dorwit Copper

Three licences located approximately 150 km from Windhoek, Namibia’s capital which cover about 65 km of prospective stratigraphy in the Kalahari Copper Belt

One licence (EPL 7030) located near village of Dordabis and other two licences (EPL 7028 and 7029) are located near the village of Witvlei, on the main paved highway to Botswana, covering about 60 km of prospective strike length in the Kalahari Copper Belt. A rail line and power lines cross these two licences and gravel roads extend across the licences from the paved highway.

These three licences cover approximately 78865 ha; putting this into perspective, the area covered by the three licenses is large enough to cover more than 75% of the historic Noranda Mining Camp in Quebec, Canada.

There are six copper deposits encompassed by these three licences along with other zones with anomalous copper drill core intercepts that we believe can be expanded upon through future exploration.

Overview Okohongo Copper - Silver

The license (EPL 7071), located in the northwest part of Namibia and covering approximately 19805 ha, includes the Okohongo Copper-Silver Deposit which is known to extend over 600 metres in strike length and up to 400 metres down-dip.

Situated within the Kaoko Belt and hosted by metasedimentary strata, the deposit is considered analogous with the stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo.

The Okohongo deposit contains historical Inferred mineral resources reported as 10.2 million tonnes grading 1.12% Cu and 17.75 g/t Ag, using a 0.3% Cu cut-off (Table 2; INV Metals Inc. NI 43-101 Technical Report, Effective Date March 31, 2011).

Agreements

Binding Letter of Agreement ("LOA")

Natural resources investor RZJ Capital Management LLC (“RZJ”) binding Letter of Agreement (“LOA”) (see Company news release dated January 21, 2019).

Under the LOA, RZJ has the right to purchase 70% of White Metal’s 100% owned private Namibian company Aloe 237 which holds title to three Exclusive Prospecting Licences (EPL 7028, 7029 and 7030) that comprise the Property (see Company news release dated October 16, 2019). The partners, RZJ and White Metal, will work towards the signing of a definitive agreement in the near future. The additional extension was requested by RZJ and agreed to by WHM, given the current challenges around the COVID-19 Pandemic that has put a hold on most of the mining industry. RJZ is confident that without any further delays, both companies can finalize the transaction on or before October 15 2020.

Non-binding Memorandum of Understanding (“MOU”)

Luxury Investments One Hundred and Ninety Two (Pty) Ltd. (“Luxury Investments”), Kalahari Copper Ltd. (“Kalahari”), and Newco Management Team of South Africa (“NMT”). Along with White Metal, these three parties have agreed to work together on examining small-scale production possibilities in areas of Namibia covered by Exclusive Prospecting Licences (“EPL”) controlled by White Metal (EPL 7071) and Kalahari Copper (EPLs 7082, 7079, 6998, 7081).

Luxury Investments has been successfully running a small-scale mining operation in Namibia for over two years, producing approximately 200 to 250 tonnes per month of copper concentrate at a grade of 30% Cu. These small-scale operations are in close proximity to the EPLs held by White Metal and Kalahari.

The parties will work in collaboration to see if the concept of small-scale mining would be effective on the Okohongo Cu-Ag deposit (White Metal) and any other prospects within the above mentioned EPLs.

(See company news release dated February 11, 2020).