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Balkan Mining and Minerals Ltd (BMM or the Company)(ASX:BMM)BMM) is pleased to announce that it has entered into an agreement to acquire Sandfire Resources Limited’s (ASX: SFR) (Sandfire, Vendor) “Saski do” exploration permit application in Bosnia and Herzegovina. The acquisition strategically expands the Company’s Balkan portfolio of critical green metal assets to service the battery technology, high growth electrons sectors.
- BMM has entered into a conditional agreement to acquire Sandfire’s Bosnian and Herzegovinian exploration concession application over the prospective Triassic sedimentary sequence proximal to historic mining operations (the Saski do Application).
- The Saski do Application lies adjacent to Adriatic Metals Plc’s Semizova Ponikva concession (Vares project) and covers the same lithological and structural setting as Adriatic’s Rupice and Veovaca deposits1.
- The Saski do Application is located within the prolific Tethyan metallogenic belt and is considered to be prospective for base and EV related mineralisation.
- Acquisition price of $250,000 is payable in 641,503 BMM shares at $0.38971 per share (based on the recent 5 day VWAP).
The Saski do Application is located in the Vares municipality of the Zenica-Doboj Canton (approx. 30 km north of Sarajevo) in Bosnia and Herzegovina with part of the Project’s northern boundary lying adjacent to Adriatic Metals Plc’s Vares project (Semizova Ponikva).
This article includes content from Balkan Mining and Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.