Technology Minerals Cameroon
The Technology Minerals Cameroon (TMC) Property consists of five exploration permits—at least three of which are considered prospective for nickel-cobalt rich laterite. The property covers an area of 2,456km² in south-eastern Cameroon, proximal to the world-class Nkamouna nickel-cobalt laterite deposit, 600km by road east of the port city of Douala, and 400km by road east of the capital of Yaoundé. The primary deposits are two of four laterite plateaus extending 80km north-south and 45km east-west.
Since applying for the permits in February 2021, Technology Minerals Cameroon have performed a reconnaissance exploration on the five permit areas, which entailed geochemical evaluation, soil sampling, and lithogeochemical sampling.
The company received copies of all permits concerned and instructed independent Cameroon legal counsel to verify the validity of the permits. Legal counsel has now recently concluded that the five permits could not be legally granted to TMC under Cameroonian law, and the permits are therefore not valid.
As such, the Company is now taking steps so that the permits will be valid under Cameroon law.
A two-phase work programme will see data capture, a remote sensing alteration study, and an airborne geographical survey in Phase One; and, if warranted, follow-up geological mapping, geochemical sampling, and an exploration air core drilling programme in Phase Two.
Current status: Taking steps to ensure that the permits will be valid under Cameroonian law.