Copper Intelligence Inc. (OTC: AFDG) signed a term sheet with CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) to form an exploration joint venture targeting historical copper tailings in the Democratic Republic of Congo.

The non-binding agreement includes a third-party investment vehicle associated with CoTec's CEO Julian Treger and Chairman Lucio Genovese. The joint venture will focus on processing copper tailings in the DRC's Central African Copperbelt region.

The copper tailings were generated by state-owned company Gécamines during industrial mining operations since the 1950s. The joint venture plans to use CoTec technologies to enhance the economic potential of these historical tailings sites and redundant copper deposits.

"We are excited to pursue a strategic partnership with the CoTec team that will add capital in a non-dilutive fashion to our shareholders," said Andrew Groves, Chairman of Copper Intelligence.

Once formed, the joint venture will establish a framework for pursuing opportunities in the DRC's historical copper districts. Individual opportunities will require detailed legal and technical due diligence and binding agreements on an asset-by-asset basis, with approval from independent members of the CoTec Board of Directors.

The joint venture plans to seek funding from the U.S. International Development Finance Corporation once sufficient scale is achieved. Specific structure, terms and conditions will be reflected in definitive agreements.

Copper Intelligence operates the Butembo copper project in the Democratic Republic of Congo and describes itself as the first stand-alone DRC company to be publicly traded in the United States.