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Cape Lambert Resources Ltd.
Summary
| Project: | Kipushi Tailings | |
|---|---|---|
| Deposit: | Kipushi Tailings | |
| Location: | Democratic Republic Of Congo | |
| Commodities: | Cobalt-Copper-Zinc | |
| Date: | 5/2/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 2-5-2019: Cape Lambert Resources Ltd. announces a Resource Estimation report for its Kipushi Tailings deposit at the Kipushi Tailings project. Initial mineral resource estimate at the project. Australian resources and investment company, Cape Lambert Reso | |
| Resources: | (Resource, I+I): 2.330Mt @ 0.33% Co, 1.00% Cu, 0.12% Zn | |
| CP/QP: | [Resources]: Olaf Frederickson (Independent) | |
| ABSTRACT: | Australian resources and investment company, Cape Lambert Resources Limited (ASX: CFE) (Cape Lambert or the Company) is pleased to provide an update on its Kipushi Cobalt-Copper Tailings Project (Project) in the Democratic Republic of Congo (DRC). Project Joint Venture The Project, located near the town of Kipushi approximately 25km from Lubumbashi, involves the reprocessing of cobalt-copper tailings contained in the Kipushi Tailings Storage Facility (Kipushi TSF) and is operated by Soludo Lambert Mining SAS (Soludo Lambert), under a 50/50 joint venture arrangement between local entity Paragon Mining SARL (Paragon) and Cape Lambert. Paragon has a 70% interest in the Project, increasing to 75%, via a contract it has with La Patience SPRL (Patience) that gives it the right to exploit and process the tailings from the Kipushi TSF and sell the product. The agreement between Patience and Paragon is subject to DRC laws. The Company’s interest in the Project is derived from its 50% interest in Soludo Lambert (refer ASX Announcement dated 3 May 2017 for terms of the joint venture arrangement). On 8 January 2019, the Company’s securities were suspended from official quotation pending an announcement on the Project, and in particular the security of tenure over the Kipushi tailings. | |
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