Las Vegas, NV., Nov. 17, 2023 (GLOBE NEWSWIRE) — Titan Lithium Inc., (OTC Markets: CDSG) (the “Corporate” or “CDSG”) is happy to announce it has finished the entire switch of 100% passion within the Titan 1 and Titan 2 Prospecting Licenses in Tanzania into the Corporate’s’ Kilimanjaro Lithium Ltd (“KLL”) subsidiary.
Mineral rights in Tanzania are held below plenty of forms of licenses granted below the rustic’s complete Mining Act. Exploration initiatives are held by means of a Prospecting License (“PL”) which permits the holder to habits quite a lot of exploration paintings till this kind of time as a mining license is needed for exploitation.
The seller finished the switch of 100% of the 2 Prospecting Licenses for Titan 1 and Titan 2, PL 12353/2023 and PL 12338/2023, into KLL on November 14, 2023. The Prospecting Licenses that have been transferred have been duily recorded pursuant to segment 123(1) of the Mining Act within the central check in on November 16, 2023. The licenses might be to be had to view at the corporate’s site at the “About Us” tab.
Those two PLs are thought to be potential to the invention of sediment hosted lithium taste mineralization inside a rustic wealthy in mineral sources. Tanzania is endowed with many forms of minerals together with gold, iron ore, nickel, copper, cobalt, gem stones, commercial minerals in addition to uncommon earth minerals.
Tanzania is the fourth biggest gold manufacturer in Africa and residential to complex important mineral initiatives similar to graphite, lithium and the high-grade nickel-copper-cobalt Kabanga deposit. Previous this yr, below a Presidential plan to speedy monitor such deposits, Tanzania signed agreements value $667 million for graphite and uncommon earth initiatives with a number of Australian mining corporations. As neatly, in February 2023, EV maker Tesla signed an settlement below which it’s going to acquire between 17,500 to 35,000 lots in step with annum of Anode Energetic Subject material (AAM) from a manufacturer in Tanzania.
“Operating carefully with the seller we’re more than happy to have the licenses absolutely transferred”, commented Chairman Harp Sangha. “Our subsequent steps will come with the graduation of labor that can come with a strategic drill marketing campaign designed to supply a maiden mineral useful resource that we are hoping will raise the initiatives considerably.”
Concerning the Corporate: China Dongsheng World Inc. (OTC Markets: CDSG), thru its wholly owned subsidiary Titan Lithium, Inc., is a lithium explorer and developer with operations in Nevada, USA, and The United Republic of Tanzania.
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