RE: Excellent Earn-in and joint venture RNS today from TYM25 Sep 2023 07:48
From 6th June update:
“ The Company is pleased to announce that, via its local partner, Mwashia Resources, it has been provided with extensive geophysical exploration data for its Konkola West copper exploration project in Zambia by KoBold Metals.
KoBold Metals, whose shareholders include Breakthrough Energy Ventures, a climate and technology fund founded by Microsoft's Bill Gates, and backed by Amazon's Jeff Bezos and Virgin's Sir Richard Branson, and mining giant BHP, is investing US$150 million into the evaluation of the Mingomba Copper Deposit (Lubambe Extension Project) on the mining licence adjoining the Company's Konkola West exploration licence.
The data now provided comprises airborne gravity, magnetic and radiometric data for the entire 72 sq.km. licence area and was collected by KoBold in 2021.
This data set was collected as part of a wider regional airborne geophysical survey incorporating Konkola West and targeting down-dip and along-strike extensions of the contiguous Musoshi-Lubambe-Mingomba-Konkola copper deposits which host the Musoshi Mine in the Democratic Republic of the Congo and the Lubambe and Konkola mines in Zambia. Together these deposits define a continuous zone of mineralisation over 15km long with a pre-mining endowment of over 775 million tons grading 2-3% copper. Konkola West is located approximately 2,000 metres southwest of the Mingomba deposit which currently has a resource of 250 million tonnes with a mean grade of 3.8% copper.”