Overview

The project is a two year large scale mining prospecting license for copper, cobalt, gold, silver and other. It is located 25km northeast of the town of Solwezi (one of the fastest growing towns in Zambia as the northwestern province is considered to be the next Zambian Copperbelt, due to the latest discoveries of basemetal mineralisation in the area) and about 15km to the northeast of the Kansanshi Mine in Zambia’s North Western Province.

The tenement lies in a region which has been previously prospected in the past by several operators. The majority of this previous work (especially before the 1990’s) was aimed at delineating further large ‘Copperbelt’ Cu-Co style deposits or the Kansanshi copper-gold Potassic Feldspar alteration that characterises the mineralization. The region is thought to have considerable potential for Copperbelt sediment hosted copper- cobalt gold style of mineralisation, hosted in the Roan rocks of the Katanga System.

A Geological Report was done this year through a compilation of works done on the area earlier by Zambia Anglo American Corporation, and by Cyprus Amax joint venture with First Quantum Mineral Resources (in the mid 2000). The minerals being investigated are copper and gold, with the geological characteristics being similar to the First Quantum Kansanshi mine in the same area. The model being applied is the Kansanshi Model/stratiform copper deposit that may be over 50 million tones (First Quantum Kansanshi mine for comparatives). The grades are usually oxide copper (malachite, azurite, chrysocolla, about 10%) mixed grades of oxide and sulphides (with chalcocite, can reach 30%) and sulphide of about 3%, being chalcopyrite, bornite and chalcocite. The mine area is located in the north western area of Zambia near Barrick Gold Lumwana mine. 1 2