THE BOURSE WHISPERER: Blackthorn Resources has commenced a scoping study for the company’s 100 per cent-owned Mumbwa project in central Zambia.
The company is undertaking the study to assess potential for an economic mining operation of the Kitumba inferred mineral resource.
Blackthorn is exploring the Mumbwa district for iron oxide copper-gold (IOCG) style of mineralisation as follow-up to the maiden inferred mineral resource, which was estimated at Kitumba copper deposit in October 2009.
The company kicked-off a follow-up Phase 5 drilling program in August 2011, which has produced some positive results so far.
Source: Company announcement
These results are to be integrated into the existing data-set to potentially upgrade the existing inferred mineral resource category, tonnes and grade.
The scoping study will focus on the key aspects of developing a successful project, including:
– Validation of the mineral resource and geological model;
– Review of the deposit characteristics and implications for mining;
– Pit limit optimisation to define economic mining limits;
– Identification of pit development strategy and mining method; and
– Life of mine production schedule.
Blackthorn said it also intends carrying out metallurgical testing of representative core samples from the Kitumba mineral resource as part of the scoping study.
It anticipates results of the scoping study will become available early in the second half of 2012.
“Following the excellent results achieved from our Phase 5 drilling program at Mumbwa, we are excited about the prospect of upgrading the inferred mineral resource at Kitumba and assessing the economics of the project by conducting this scoping study,” Blackthorn Resources managing director Scott Lowe said in the company’s announcement to the Australian Securities Exchange.
“We welcome the opportunity to work with MMC on the Mumbwa project, which the company believes has the potential to deliver an economic copper deposit at Kitumba, along with the potential for new discoveries elsewhere on the lease.”