Australian junior to acquire Namibia zinc project

ASX-listed Tanga Resources will acquire the high-grade Joumbira zinc project, in Namibia, and raise A$1.16-million to fund the transaction and start planned work programmes. The company entered into a binding option agreement to acquire 100% of the issued shares of Namibia-registered Coldstone Investments, which has a joint venture (JV) agreement with government-owned Epangelo Mining to earn 80%, potentially 90%, of the zinc/lead/silver project in the Damaran belt.