Star Mountains Gold-Copper Tenement ApplicationSource: RNS
("Corcel" or the "Company")
Star Mountains Gold-Copper Tenement Application
Further Papua New Guinea Potential Expansion
21 October 2022
Corcel, the natural resource exploration and development company with interests in battery metals and flexible energy generation and storage announces that its wholly owned subsidiary, Niugini Nickel Pty Ltd, ("NN") has submitted an application over currently vacant ground in Papua New Guinea totalling 136 graticular sub-blocks or c. 464 km2.
This area covers the Star Mountains project ("SM"), a gold and copper exploration project and has been the subject of considerable work by Highlands Pacific Limited, a previously listed ASX company.
NN has filed an application grant over the project area, and will be subject to a systematic review prior to grant by the PNG Mineral Resources Authority. The Company's application is believed to be one of a number of applications for these tenements. Whilst no certainty exists that the Company will be successful in its application, the Board believes that the acquisition of the Star Mountains tenements would capitalize on its existing PNG experience and expertise, and provide a further broadening of the Company's mineral exploration portfolio.
The Company will provide an update when it knows the outcome of its application.
For further information, please contact:
Scott Kaintz 020 7747 9960 Corcel Plc CEO
James Joyce / Andrew de Andrade 0207 220 1666 WH Ireland Ltd NOMAD & Broker
Simon Woods 0207 3900 230 Vigo Communications IR
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.