AsiaBaseMetals Inc. (the "Company"), a mining company led by an experienced and successful business and mining team, operating under high standards of business conduct, is prudently advancing its 100% owned Gnome ("Gnome"Property - Cobalt & Zinc) and Jean ("Jean" Property - Iron Ore) projects in world-class mining districts in Canada, one of the safest and mining friendly jurisdictions in the world, while further diversifying its portfolio, with special attention directed to advanced acquisition targets in the Americas, Asia and Africa for base metals [Copper (Cu) / Zinc (Zn)], alkali metals [Cobalt (Co) / Lithium (Li)] and precious metals [Gold (Au) / Silver (Ag)]. The Company intends to retain commodity focus by plan of arrangement spin-out transaction(s) ("Spin-Co.'s"), whereby appropriate assets will be spun out and advanced by new companies ("New-Spin-Co.'s") owned by the Company's then existing shareholders (the "Shareholders") to continue to build and enhance shareholder value.
"COMPANY & TEAM" DEDICATED TO "BUILDING SHAREHOLDER VALUE"
The Path Forward > Envisioned, Planned & Being-Executed
"ABZ > ABZ-Cobalt/Zinc (#1) > ABZ-Lithium/Feldspar (#2) > ABZ-Iron (#3) >
ABZ: # 1
Cobalt/Zinc - AsiaBaseMetals Inc.
Discovery of Cobalt (Co) - Gnome Project
First in the region, together with Zinc.
Soil Geochemical Survey Results - 2018
(see Corporate Presentation / Company's News Release Oct 29, 2018)
Anomolous Cobalt (0.58% Co) together with Zinc (up to 5.99% Zn)
and Manganese (up to 10.6% Mn)
|Cobalt (Co)||Zinc (Zn)||Manganese (Mn)||Nickel (Ni)||Iron (Fe)|
ABZ: # 2
Lithium/Feldspar - AsiaBaseMetals Inc.
Myanmar - Project Acquisitions - Branch/Rep Office
The Company has applied for an exploration permit for the Thazi Mineral Claims from Myanmar's mining ministry ("M-MM"), opened a local branch/rep-office ("ABZ-Myanmar-Office") and opened a local bank account, commencing its operations in Myanmar; having earlier received registration ("ABZ-Myanmar-Registration") from The Directorate of Investment and Company Administration ("DICA"), which handles company registrations for foreign businesses and serves as a secretary to Myanmar Investment Commission (the "MIC"), the responsible body for investment application.
"The Company’s entry into Myanmar, a country having both China and India as neighbours (combined population of almost three billion people) who likely represent the largest buyers of gold and Copper and users of batteries in the world, is a significant move. Myanmar being endowed with impressive geology will allow the Company, now having commenced operation in the country successfully, to also pursue other assets, including gold, silver and copper assets. We look forward to capitalizing on the first mover advantage while adding and contributing to the growth of the country and its people."
Raj Chowdhry, President, CEO & Chairman
ABZ: # 3
Iron Ore - AsiaBaseMetals Inc.
The Jean Iron Ore Project is located within the Thunder Bay Mining District in the northwestern part of the province of Ontario, Canada (approximately 65 kilometers to the southwest of the city of Thunder Bay & approximately 2 kilometers north of Whitefish Lake on Highway 588). Diamond drill tested (2012 - included eight vertical NQ-size drill holes totaling 492.88m bounding 3km by 0.5km area verified the known surface geology with additional detailed stratigraphic information). All eight holes intersected iron bearing Lower Taconite Member, whereas two complete Lower Taconite Member vertical intersections were delineated in 2 holes. The average true thickness was estimated to be 57.06m. In 2015, the Company completed a surface sampling, trenching and channel sampling program on the Property.
Weighted Assay: Lower Tactonite Member
(May-June 2012 Drilling Program Results)
- Lower Taconite Member of Lower Gunflint Formation is the main and most economically-interested iron formation member within the property and was intersected in all eight holes. Two holes completely intersected Lower Taconite Member and true thickness was estimated to be 57.06m.
- The iron content (Fe%), pursuant to samples/exploration results of Lower Taconite Member ranges from the low 23.44% Fe to the high of 26.16% Fe (23.44% Fe in fresh drill cores to 24.44% Fe in oxidized drill-core to 26.16% Fe in surface oxidized samples, and finally 25.71% Fe in mixed surface and drill-core samples). The feed grade of DDT test done on Lower Taconite Member varies from 24.05% Fe to 24.58% Fe.
- 2015 Exploration work results of eight grab rock samples indicate that iron oxide is in the range of 12.29% to 41.03%. The results of five trenches show consistent values of iron, in the range of 22 to 36% iron oxide.
Under industry standards, the key economic parameters for magnetite ore being generally economic in BIF are, the crystallinity of the magnetite, the grade of the iron in the host rock, and the contaminant elements which exist within the magnetite concentrate. To make a magnetite-bearing banded iron formation economic, typically, a minimum iron grade of 25% Fe is required. A concentrate grade of 64% iron by weight or more is viable with a 33% to 40% recovery yield of magnetite (Source: Rai Technology University - World Economic Geography - Section 2.1.3 - Magnetite Ores).
ABZ: # 4
Next - Coming Soon - Gold/Copper? - AsiaBaseMetals Inc.
Continue to Implement Business Plan
Focus Next on Acqusition of Gold & Copper Assets
Diversify Assets - special attention directed to advanced assets in the Americas, Asia & Africa - AsiaBaseMetals Inc.'s business plan, given the current global economic and political environment and the projected anticipated outlook going forward, as deemed prudent, is to diversify its assets; including entering into the exploration, and when appropriately warranted, production of precious metals (gold and/or silver); base metals (copper and/or zinc and/or iron-ore) the leading base metals for economic growth; and industrial metals (Cobalt and/or Lithium), the fundamental components for the exponentially growing power storage battery market sector; while continuing to advance the Gnome Zinc project (100% interest) in the province of British Columbia) and the Jean Iron-Ore project (100% interest) in in the province of Ontario).
Accordingly, the Company's highly focused and experienced business and mining team, on the board of directors (the "Board") and the advisory board (the "Advisory Board"), has commenced reviewing new business opportunities, including identified advanced base, alkali and precious metals assets, with special attention directed to assets in the Americas (Mexico, Peru, Argentina, Colombia & Ecuador), Asia (Myanmar) and Africa [Guinea & Democcratic Republic of Congo (DRC)].
Advance Current Cobalt / Zinc (Gnome) & Iron-Ore (Jean) Projects Prudently - Both the Gnome Cobalt/Zinc project and the Jean Iron-Ore project are located within highly prospective geological areas in Canada, one of the safest and mining friendly jurisdictions in the world, and especially where other world-class projects are currently being advanced by notable well-known and well-funded companies' who are likely to continue to upgrade the infrastructure and the access in the area to allow for production, thereby continually reducing the exploration costs. Pursuant to the Company's business plan, each of the projects was acquired upon the completion of a previous extensive review of upcoming future global demand for various types of metals when metal prices were unfavorable and/or depressed, especially for Cobalt, Zinc and Iron-Ore, at what management believes to be exceptionally low prices, representing "cents on the dollar for exploration work previously already conducted"; and without significant dilution to shareholders.
Maintain Commodity Focus through Spin-Out(s) - The Company, pursuant to its plan to diversify, at the right time, will likely seek the transferring of either the acquired precious metal assets or part of the other assets, including non-precious metal assets, then held to new companies; to maintain commodity focus, through the undertaking of a plan of arrangement ("Spin-Out"), wherein the Company's then existing shareholders would receive, upon completion, shares of the new Spin-Out company (the "New-Spin-Co") without having to pay any additional funds; allowing each of the separate companies to focus individually in their respective sectors, based on appropriate regional infrastructure development and prevailing market factors, and to continue to build and maximize shareholder value.