Cape Town, South Africa (PRWEB) May 08, 2013
African Copper Corporation (formerly New York Tutor Company) (the “Company”) (Symbol OTCL: ACCS) reports that the Company has reached a Letter Of Intent (LOI) to acquire a second group of mineral leases in the Kalahari Copperbelt region of Botswana, Africa known as the Bonnyridge Property, currently under renewal.
The area where the licenses are located has been widely characterized as an extension of the Kalahari Copperbelt or KCB, which extends from Zambia through Botswana and into Namibia. The belt is home to world-class, producing copper mines and broad exploration activities meant to expand the zone’s defined resource potential.
The Bonnyridge Project is located within the Ghanzi and Ngamiland Districts of northwest Botswana. The center of the Bonnyridge Property is 240 kilometers (km) west-south-west of the town of Maun and 90 km north-north-west of the town of Ghanzi.
Geologically, the Bonnyridge Property is located within the Ghanzi-Chobe Fold and Thrust Belt, an up to 200 kilometer wide zone trending in a northeasterly fashion for a distance of over 1,000 kilometrs within both Botswana and Namibia. This zone of rock, also referred to as the Kalahari Copperbelt (KCB), consists of poly-deformed metavolcanics and metasediments.
The Bonnyridge Property, which has been identified as a highly prospective copper/silver target, is directly adjacent to and online with the defined copper/silver discoveries by several leading mineral producers in the region. According to technical reports, historical exploration carried out on the property suggests that the potential exists for both sediment-hosted copper mineralization found within the contacts of the D’Kar and Ngwanko units as well as into other company concessions to the south. The existence of Matchless Amphibolite Series rocks transecting the northern portion of the Bonnyridge Property suggests that the potential for Cu-Zn hosted massive sulphide deposits may be present.
The most advanced project in the area, the Boseto Copper Mine, is reported to host mineral resources of 207.2 million tonnes of 1.3% copper and 16.0 grams per tonne of silver. Its ownership recently refused an $875 million buyout offer from a Chinese mining group.
About African Copper Corporation
African Copper Corporation is a mineral exploration company seeking to acquire, explore and develop highly prospective metal projects in Africa. Its core projects, located in Botswana, cover approximately 12,468 square kilometers and are in the center of the Kalahari Copperbelt, recognized as one of the largest exploration copper belts in the world. The Company's shares trade under the symbol ACCS-OTC QB.
For more information see: http://www.africancoppercorp.com
Symbol: OTCQB – ACCS
Berlin Symbol: N3T; WKN: A1T7YY; ISIN: US6501182017
Contact: Investor Relations
Tel: +27 (0) 21 680 5207
SAFE HARBOR STATEMENT
This news release contains “forward-looking statements”, as that term is defined in Section 27a of the United States Securities Act of 1933, as amended, and Section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as “estimate,” “anticipate,” “believe,” “plan” or “expect” or similar statements are forward-looking statements. Risks and uncertainties for the Company include, but are not limited to, the risks associated with property development and funding as well as the risks shown in the Company’s most recent Annual Report on Form 10-KSB and on Form 10-QSB and in other publicly available information regarding the Company. Other risks include risks associated with the regulatory approval process, competitive companies, future capital requirements and the Company’s ability and level of support for its exploration and development activities. There can be no assurance that the Company’s development efforts will succeed and the Company will ultimately achieve commercial success. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company’s periodic reports filed from time-to-time with the United States Securities and Exchange Commission.
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