Blenheim Natural Resources acquires interest in Kalahari Key Mineral Exploration
Blenheim Natural Resources said it has completed its acquisition of a 20% interest in Kalahari Key Mineral Exploration.
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The company had already announced on 14 September 2017 that it had conditionally agreed to subscribe for 2,500 ordinary shares in the capital of Kalahari for a total of $130,000 in cash.
On the acquisition, Blenheim's chairman, Chris Ells, said: "With due diligence completed to Blenheim's satisfaction all conditions have now been fulfilled for Blenheim's investment into KKME.
"KKME's work programme has been agreed and ground geophysical and geochemical surveys over the priority targets have commenced to identify an initial drill programme. The Molopo Farms Complex has the potential for discovery of significant deposits of nickel and platinum group elements, being a geological extension of the well-established South African platinum belt. Nickel is now considered to be a key ingredient in lithium-ion batteries; this complements Blenheim's thrust towards making strategic investments in a small number of companies in the future energy space, including lithium and cobalt."