REG - Corcel PLC - Star Mountains Gold-Copper Tenement Application

CorcelAnnouncement

21/10/2022 07:00

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RNS Number : 6389D  Corcel PLC  21 October 2022

Corcel PLC

("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 km(2).

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

 

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