Blackthorn Resources announces Kitumba maiden
THE DRILL SERGEANT: Blackthorn Resources (ASX: BTR) has announced a maiden Underground Ore Reserve for the Kitumba deposit, located within the company’s Mumbwa iron oxide copper-gold (IOCG) project area in Zambia.
Blackthorn holds a 100 per cent interest in the Mumbwa project.
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Kitumba project – Regional Location Plan. Source: Company announcement
A maiden 2004 JORC Code-compliant Ore Reserve, including 33.5 million tonnes of ore at 1.7 per cent copper for a total of 541,000 tonnes of copper has been calculated for the Kitumba deposit.
“We are very pleased at being able to announce a maiden Ore Reserve at Kitumba of over 500,000 tonnes of copper in Probable Ore Reserves on the back of our positive PFS,” Blackthorn Resources managing director Scott Lowe said in the company’s announcement to the Australian Securities Exchange.
“We look forward to updating both the Mineral Resource estimate and Ore Reserves towards the end of the year to include our recent stellar results from the Phase 7 infill drilling.
“We are also looking forward to updating the recently released PFS for Kitumba with a view to optimising the economic outcomes.”