CoTec Holdings Corp. (TSXV: CTH)(OTCQB: CTHCF) announced it signed a term sheet with U.S.-based Copper Intelligence Inc. to form an early stage exploration joint venture targeting historical copper tailings processing in the Democratic Republic of Congo.

The joint venture will establish a framework for pursuing copper tailings opportunities in the DRC's historical copper districts. Identified opportunities will undergo legal and technical due diligence on an asset-by-asset basis, requiring approval from CoTec's independent board members before committing development resources.

CoTec plans to apply its technologies to enhance the economic potential of historical tailings sites and redundant copper deposits. The joint venture will seek funding from the U.S. International Development Finance Corporation once sufficient scale is achieved.

The term sheet is non-binding and was negotiated on an arm's length basis. Definitive agreements are targeted for signing by Q3 2026, depending on progress in securing potential targets.

"The DRC has an incredibly rich copper history and the potential for historical copper tailings opportunities could be significant," said Julian Treger, CoTec's chief executive officer. "Copper Intelligence has a wealth of experience in operating in Africa and this partnership will support CoTec as it navigates its execution strategy for potential asset opportunities in the DRC."

Copper Intelligence describes itself as a resource development company focused on copper exploration in the Democratic Republic of Congo. The company states it is working to become the first stand-alone DRC company publicly traded in the United States.