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Nzuri Copper Ltd.
Summary
| Project: | Fold and Thrust Belt | |
|---|---|---|
| Deposit: | Monwezi | |
| Location: | Congo, Democratic Republic Of The | |
| Commodities: | Copper-Cobalt | |
| Date: | 8/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-8-2017: Nzuri Copper Ltd. announces an Exploration/Drilling Update report for its Monwezi deposit at the Fold and Thrust Belt project. Drilling results incl. 6m @ 1103ppm Cu, 1285ppm Co from 31m. In addition to fast-tracking the feasibility study on th | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Peter Ruxton (Internal) | |
| ABSTRACT: | In addition to fast-tracking the feasibility study on the Kalongwe Deposit, which will be the topic of a subsequent press release, Nzuri Copper Limited (ASX: NZC) (Nzuri or the Company) is pleased to provide an update on its ongoing exploration program in the Western Katangan Copperbelt in the Democratic Republic of Congo (DRC), which continues to advance positively in line with the Company’s previously announced plans. The exploration program will see Nzuri test up to five highly prospective targets in 2017 across multiple prospect areas with drilling to continue for most of this year (refer Schedule 1 below). The relative locations of targets on the Fold Thrust Belt Joint Venture (FTBJV) licence area are shown in Figure 1 below. Since its announcement on 20 June 2017, Nzuri has now completed an initial Reverse Circulation (RC) drilling programme at the Katete target, a large multi-element geochemical anomaly located in a favourable structural geological setting. The program comprised eight holes for 1,042m. The Company is pleased to advise that visible copper mineralisation was intersected in this first-pass drilling programme with samples dispatched to the assay laboratory for analysis. Initial results are anticipated in early September. On the back of this positive result, three diamond holes were planned at Katete. Two have been completed with a third currently underway. Elsewhere, a mapping and trenching programme at the highly prospective Kasangasi Target, located 17km from Ivanhoe Mines’ world-class Kamoa-Kakula deposit, has been completed. This has improved the Company’s geological understanding to a level where the target can now be effectively drill tested. | |
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