Blackthorn Resources Announces Results from Prefeasibility Study for Kitumba Copper Project

Blackthorn Resources Limited (ASX:BTR) has announced the results from its optimized prefeasibility study for the wholly owned Kitumba copper project in Zambia. Highlights include an increased copper recovery of 92%, an annual ore production of roughly 3Mt Run of Mine, and an average head grade of 2.03 percent copper.

As quoted in the press release:

The OPFS has delivered an outstanding result which significantly enhances the Project’s economics and confirms its potential as a major, economically feasible project with an average production rate of approximately 58,000tpa copper over an 11 year mine life, generating US$2.48 billion in EBITDA, an IRR of 21%, and an NPV8 of US$461M.

Blackthorn Resources CEO, Mark Mitchell, said:

We are delighted with the result of the PFS optimisation for the Kitumba Copper Project. We have carefully developed the PFS to represent a fully implementable project. The results show that we have an economically robust project at prefeasibility study level, and we have identified a proven, cost effective mining and processing solution with the work having been done to understand the orebody. We will now prepare to move into the definitive feasibility study with the aim of achieving further refinements and improvements to the project economics.

Click here to read the Blackthorn Resources Limited (ASX:BTR) press release