Vatic Enters into Negotiations for Coltan Property in Sierra Leone
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2018) - Vatic Ventures Corp. (TSXV: VCV) (OTC Pink: VTTCF) (FSE: V8V3) (the "Company" or "Vatic") is pleased to announce that it has entered into negotiations with a private Sierra Leone company to earn a majority interest in a columbite-tantalite ("coltan") property in the Kono district, eastern Sierra Leone, Africa. The license area totals 169.73 km2. The Kono district is a well-known mineral producing region for gold, diamonds and coltan. According to documents from the license holder that were issued by the Ministry of Mines and Mineral Resources, "columbite-tantalite is a non-conflict mineral and the license area is a non-conflict region in Sierra Leone."
Coltan in Sierra Leone is a fairly recent discovery. The Director General of the Mines Department of the country recently described coltan as the "new kid on the block" on the Sierra Leone mineral landscape. The USGS recently reported that several companies in Sierra Leone are exploring for this material and that there was small-scale production and exports in 2013/2014.*
Coltan (columbite—tantalite) is a dull black metallic ore, from which the elements niobium and tantalum are extracted. Niobium and tantalum have a wide range of uses, including refractive lenses for glasses, cameras, phones and printers. They are also used in semiconductor circuits, and capacitors for small electronic devices such as hearing aids, pacemakers, computer hard drives, automobile electronics and mobile phones. The European Commission has placed both niobium and tantalum on its 2017 list of Critical Raw Materials for the EU.
The tantalite market has experienced significant price rises in the last two years, from just over USD $120/kg to over USD $186/kg. The market for niobium has remained relatively stable the past two years at over USD $42,000 per metric ton. Vatic sees this as a strategic opportunity to diversify its project portfolio.
The technical content of this news release has been reviewed and approved by Mr. Pieter J. Bakker, MSc. FAusIMM, who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Nasim Tyab, Director
* USGS. 2014 Minerals Yearbook. Niobium (Columbium) and Tantalum. April 2016.
USGS. 2015 Minerals Yearbook. Tantalum. January 2018.
ABOUT VATIC VENTURES CORP.
Vatic Ventures Corp. (www.vaticventures.com) is a junior exploration company and continues to assess new opportunities and prospects.
For further information, please contact Vatic at:
Vatic Ventures Corp.:
PHONE: (778) 373-6972
FAX: (604) 689-1288
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