Technology Minerals PLC (LSE:TM1) has signed an agreement for the sale of a 10% interest in the Blackbird Creek and Emperium projects, in Idaho, USA.

The memorandum of understanding sees Bluebird Metals acquire the project stake for £900,000 in cash, and, includes an option for Bluebird to acquire a further 20% for £1.8mln.

Blackbird Creek spans some 158 registered claims, over 3,175 acres, in the Idaho cobalt belt (ICB) whilst Emperium covers 694 claims over 13,720 acres in east-central Idaho, also in the ICB.

“The proposed sale of a minority interest in our US projects is in line with our group strategy to progressively deliver value from our portfolio of junior mining assets,” said Alex Stanbury, Technology Minerals chief executive.

“The Blackbird Creek and Emperium projects form part of our exploration strategy to advance assets up the value chain with the aim of creating additional value in the company for our shareholders.”

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