Midnight Sun Mining: Copper and Cobalt in the Prolific Zambia-Congo Copper Belt

Midnight Sun Mining (TSXV:MMA) is currently operating with their Solwezi licenses in the North-Western province of Zambia span a significant 506 square kilometres in the Zambian-Congo Copper Belt. The Company is working in a joint venture with Rio Tinto Mining and Exploration (NYSE:RIO).

Midnight Sun Mining’s projects are in proximity to multiple producing mines. The Solwezi Licences are adjacent to First Quantum Minerals’ Kansanshi mining complex, one of the world’s largest copper mines and an important gold producer with resources exceeding 1 billion tonnes including copper grades of 0.7 to 0.8 percent and 4 million ounces of gold. Meanwhile, 120 kilometers away is the Sentinel Mine operated by First Quantum Minerals and 60 kilometres away is the Lumwana Mine operated by Barrick Gold. Ivanhoe’s Kamoa-Kakula Mine is less than 200km away, on the DRC side of the border.

Midnight Sun’s Company Highlights

• Midnight Sun Mining is one of very few junior exploration companies in the prolific Zambian-Congo Copper Belt.
• The region hosts multiple producing mines including Barrick Gold’s Lumwana mine, First Quantum’s Sentinel mine and Kansanshi mines, China Molybdenum’s Tenke Fungurume mine, and Ivanhoe’s Kamoa-Kakula mine.
• The company’s Solwezi licenses are adjacent to First Quantum Minerals’ Kansanshi mine, which is one of the world’s largest copper mines.
• The Solwezi Licences span a significant 506 square kilometres and consist of several highly prospective targets including the Mitu Trend, Dumbwa, Kazhiba Dome, Gameno and Western Flank.
• The Mitu Trend and the Kazhiba Dome targets are high-grade discoveries with drill intercepts of 4.23 percent of copper equivalent and 5.71 percent of copper near the surface, respectively.
• In April 2020, the company entered into a US$51 million earn-in and joint venture agreement with one of the world’s largest miners, Rio Tinto. The agreement grants Rio Tinto the right to up to a 75 percent interest in the Solwezi Licences.
• Midnight Sun Mining is led by a highly experienced management team with a history of discoveries and decades of experience in the exploration and development of high-value mines