Plutus Strategies has signed an agreement with a global top tier copper producer to advance grass roots copper exploration projects in Mauritania, West Africa. Under the terms of the agreement Plutus and/or it’s affiliates will acquire exploration permits within the country deemed prospective for copper, permit selection is to be done in conjunction with the major. Plutus shall then be responsible for raising initial seed capital for conducting an initial first year reconnaissance programme to identify exploration targets termed ‘designated projects’. Targets from this phase are then to be presented to the major who has the option to begin a farm in agreement to the designated projects by funding exploration up to the level of a Preliminary Economic Assessment (PEA) in order to earn up to a 80% interest in the designated project.
Plutus have now begun the process of identifying/creating suitable vehicles to carry out the permit acquisition and reconnaissance in Mauritania and believes this could be the start of a much wider exploration campaign in the area. Mauritania represents a large unexplored area for the mineralisation style and a truly unexplored frontier which Plutus is proud to be pioneering.