Variscan Shares to Fly as it Secures Significant JV Deal on its High Grade Tungsten-Copper-Gold Project

HotCopper.com.au This is a paid advertisement from Variscan Mines Ltd. HotCopper does not endorse, approve or have responsibility for the particular offer or statements made. Variscan Shares to Fly as it Secures Significant JV Deal on its High Grade Tungsten-Copper-Gold Project ASX Listed microcap explorer Variscan Mines (ASX: VAR, “the Company”) is set to unlock substantial value for its Shareholders after completing a significant Joint Venture deal on its Couflens tungsten-copper-gold project in France with a company associated with one of Australia’s most prominent mining businessmen. Apollo Minerals Limited (ASX: AON) will spend up to A$35 million (€25 million) or complete a successful DFS (whichever comes first), with Variscan free carried at 20% to that point. The Company’s shares are set to soar on the back of this deal which is potentially worth multiples of its current market capitalisation. Further to this, Variscan has other substantial gold and zinc assets which it is now drilling and expects to shortly start posting results. Variscan has attracted Apollo to the Couflens Project for a number of key reasons: - The asset is potentially world-class – the project includes the Salau mine which was formerly one of the highest grade tungsten mines in the world. In the latter years, it recorded production grades of 2.0-2.5% WO3 (tungsten mines usually grade less than 0.5-1% WO3) - Salau contains significant gold and copper grades – high grade gold results of up to 10g/t were previously recorded in the Veronique area to further bolster the project’s potential economics (see ASX announcement by Variscan dated 25 October 2016) - Advanced asset – a high grade non-JORC resource already exists, with the opportunity to expand the resource, bring in the gold and copper credits and convert to JORC reporting compliance The project presents a unique and potentially world class opportunity. Prior to its closure in 1986, Salau was one of the world’s highest grade tungsten mines with an average recorded Life of Mine Production grade of approximately 1.5% WO3. As demand for tungsten continues to grow, this is a great opportunity to invest in a very attractive top-tier project. Within the Project there is substantial exploration potential around the previously mined areas of Veronique and Bois d’Anglade as well in a number of other prospects within the licence. Further enhancing the project’s economic potential, there are significant copper and gold values previously recorded including up to 10g/t gold in Veronique. The commercial potential of the deposit is substantial and in recognition of this, Variscan has secured financing that endorses the opportunity presented by Salau from a team with a history of identifying assets with significant valuation potential. The commitment by Apollo to complete a DFS or expenditure up to A$35 million represents a substantial economic validation for a company as undervalued as Variscan, with the potential expenditure representing a 3 times multiple of its current market capitalisation of just under A$13 million. Work at Salau is now rapidly moving towards site assessments, followed by mine access and sampling, and possible underground drilling to facilitate the calculation of a high grade resource to JORC reporting standards. Mine feasibility studies may follow dependent on the success of this work. [For further information about this unique and attractive opportunity, please click here.]( [HotCopper]( [View this email online]( · [Unsubscribe]( · [Contact Us](mailto:info@hotcopper.com.au) You are receiving this email because you are a member of [HotCopper]( which is owned and operated by Report Card Pty Ltd. ABN: 39 092 598 859 ACN: 092 598 859. This is a paid advertisement. [Advertise on HotCopper](