Chrysalis acquire Zambian Copper project

THE BOURSE WHISPERER: Chrysalis Resources has reached an out of court settlement with the Zambian Government that has allowed it to finalise a 100 per cent acquisition of Zambian copper and 99.9 percent acquisition of Sedgwick Resources; a Zambian company which owns in excess of 3,000 square kilometres of exploration ground.

The Northern projects of Shikila and Kabwima North and South, and the Central Zambian project Mwongo (pending) and Bulala Hills are included within the exploration ground area.

In a statement released by the company, directors said they were encouraged by recent drilling results announced to the ASX by Blackthorn Resources from its Mumbwa project, 15 kilometres and 50km respectively from Chrysalis’ Mwongo and Bulala Hills projects.

Geology of Zambia showing significant deposits and Zambian’s Tenements. Source: Company announcement

The Lufilian project area, which includes the Shikila and Kabwima North and South tenements, is located in the North Western Province of Zambia, approximately 400km north of the national capital, Lusaka, and bordering the Democratic Republic of Congo.

The Mwongo project area is located approximately 150km west of Lusaka in the Central Province of Zambia and has an area of 459.2 sqkm.


Chrysalis plans to immediately put in place steps to have its licence application at Mwongo converted from pending to granted.