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Nzuri Copper Ltd.
Summary
| Project: | Fold and Thrust Belt | |
|---|---|---|
| Deposit: | Monwezi 2 | |
| Location: | Congo | |
| Commodities: | Copper-Cobalt | |
| Date: | 10/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-10-2018: Nzuri Copper Ltd. announces an Exploration/Drilling Update report for its Monwezi 2 deposit at the Fold and Thrust Belt project. Exploration target for project and drilling results incl. 7.1m @ 0.82% Cu, 216ppm Co from 73.9m. Commenting on the | |
| Resources: | Exploration Target: 1Mt - 2.5Mt @ 0.8% - 1.5% Cu | |
| CP/QP: | [Overall Report]: Peter Ruxton (Internal) | |
| ABSTRACT: | Commenting on the results, Nzuri CEO Mark Arnesen said: “Recent drilling has upgraded the potential of Monwezi 2 as an advanced near-mine prospect with the potential to delineate additional resources that are likely to be included in the life-of-mine plan for the Kalongwe Project. Importantly, any potential additional resources would increase the mine life beyond the current 8 years as outlined in our Feasibility Study. “Together with Kalongwe SW, we now have two clearly defined targets within a 3.6km radius of our proposed processing facility – both of which have the potential to be rapidly converted into JORC compliant Resources with additional in-fill drilling. “Planning is well advanced to undertake systematic resource drilling, most likely following the completion of the 2018 exploration field season. Given the proximity of both prospects to the Kalongwe Mining Licence, this is drilling we can readily undertake during the wet season, in parallel with ongoing development work at Kalongwe itself.” Nzuri Copper Limited (ASX: NZC) (Nzuri or the Company) is pleased to advise that near-mine exploration at its Kalongwe Copper-Cobalt Project in the Democratic Republic of Congo (DRC) is continuing to generate encouraging results, with recent drilling upgrading a second satellite target located within economic haulage distance of its proposed processing facility. Recent drilling results have confirmed the potential to define additional copper resources at the Monwezi 2 prospect, located ~3.6km along strike to the south-west of the Kalongwe deposit, which could extend the mine life of the Kalongwe Project. | |
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