The Conversation (0)
Copper Intelligence (CI) is pleased to confirm the acquisition of the Kitungu Exploration Licence PR-15880 in the Democratic Republic of Congo (DRC). The licence is located approximately 73 kilometres (straight–line distance) from Lubumbashi and covers an area of 764.55 hectares. The Kitungu project is located within the highly prospective DRC copper belt and is surrounded by other operating mines and projects, including the Kinsvere project, which holds an estimated 30 million tonnes at 3.65% copper operated by MinMetal Resources. The project area is accessible by road, using the national road N5 from Lubumbashi towards Minga.
Andrew Groves,Chairman of Copper Intelligence commented "The value of this acquisition is underlined by the fact that it is based on some preliminary drill results – one of which details 82m of combined ore grading at 1.5% copper. As detailed above the orebodies are open, both on strike and to depth – so in drilling this to JORC standards, we would expect to increase the documented tonnes"
The project has been subject to historical exploration, including nine (9) reverse circulation (RC) boreholes drilled by previous operators. The work was completed by experienced geologists using industry–standard practices. The previous operators provided CI with a statement indicating that they believed there to be 18.2 million tonnes of mineralized ore, grading at 1.74% copper. CI considers the historical dataset to be technically credible and to provide a sound foundation for further JORC–compliant evaluation. Copper Intelligence has reviewed, remodelled and reinterpreted the available historical drilling data, which indicates a conceptual insitu copper endowment of approximately 27 million tonnes at an average insitu grade of 1.54% Cu. This estimate is robust and has been confirmed by several re-iterations using differing modelling parameters. A 1% Cu cutoff grade suggests 24.8 million tonnes at a 1.62% copper grade.
Previous drill data anticipates that the orebody extends beyond the area of influence covered by the 9 reverse circulation holes – both on strike and down dip. The 'drilled area' covers only some 700m along strike – there is potential to double this coverage, suggesting that the anticipated tonnes will increase. The Copper Intelligence technical team has interrogated the early economic potential of the model using a version of the Lerch-Grossman optimizer –to confirm the project's viability and attractiveness.
Click here to continue reading
Media Contact:
mg@africandiscoverygroup.com
Rubenstein Public Relations
rrubenstein@rubensteinpr.com
View original content:https://www.prnewswire.com/news-releases/afdg-copper-intelligence-announces-acquisition-of-the-kitungu-project--pr-15880--in-the-democratic-republic-of-congo-drc-copper-belt-302757057.html
SOURCE African Discovery Group
