Zambezi Resources (ASX: ZRL) is aggressively exploring the Kangaluwi copper project in Zambia - with two separate diamond drilling programs being undertaken on the Kalulu and Chisawa prospects.
The latest highlights from phase one drilling at Kalulu includes; 10 metres at 1.13% copper, 14 metres at 0.99% copper and 21 metres at 0.79% copper.
Zambezi said all six holes at Kalulu intercepted mineralisation at multiple depths suggesting several more ore chutes than previously interpreted.
Importantly phase one drilling remains on track with 63 holes for 11,703 metres completed so far.
To move exploration forward quickly, a second phase of deep diamond drilling has commenced to test down-dip mineralisation extents.
The goal from the current exploration which has a $3.5 million budget, is to move the Kalulu prospect to a JORC Resource.
At the Kangaluwi project, earlier in the year Zambezi was successful with the company's application and was granted a large scale mining licence for a period of 25 years.
The licence application comprised a series of detailed technical reports, produced by independent consultants covering geology, mining, metallurgy and processing, environmental and social aspects of the project.
Kangaluwi obtained a mining license based on a 15 year mine life, with the annual treatment of 1.5 million tonnes of ore carrying a grade of 1% copper, with a 0.6g/t gold credit.
The recovery rate was estimated at 94% to produce around 15,000 tonnes of copper concentrate, and small gold credit of around 5,800 ounces.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/18371/zambezi-resources-hits-10m-at-113-copper-at-kangaluwi-in-zambia-18371.html
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