Mukuba Begins Drilling Program on Congolese Copper Project
23 8월 2011 - 10:52PM
Marketwired
Mukuba Resources Limited (TSX VENTURE: MKU) ("Mukuba" or the
"Company") is pleased to announce that it has commenced reverse
circulation drilling on several targets within its BENZU JV. The
project is located in the Katanga Copper Belt and is adjacent to
the Tenke-Fungurume mine operated by Freeport McMoRan, Lundin and
Gecamines.
The Katanga Copper Belt is estimated to contain nearly 10% of
the world's copper and almost 50% of the world's cobalt resources.
This belt contains over 90 known deposits that vary in size between
approximately 90 Mt and 550 Mt and average around 3.6% Cu. Some of
the resources are amongst the largest and highest grade in the
world including the resources at Tenke-Fungurume reported to be
approximately 550 Mt grading 3.5% Cu and 0.27% Co and resources at
Kolwezi (KOV) containing approximately 760 Mt grading 4.4% Cu.
Approximately 4,000 metres of RAB and 11,000 metres of Reverse
Circulation drilling are to be completed over the next few
months.
Update Zambia Projects
The program of regional soil sampling on the Northcore and
Nyimba projects in Zambia across various new target areas is
progressing well and should be completed during August 2011. It is
anticipated that additional drill targets will be identified and
selected on the basis of coincident soil geochemical and airborne
geophysical anomalies.
Trevor Richardson, Mukuba's President and CEO commented, "We are
very pleased to get the drilling program underway on our BENZU JV
in the DRC. The confirmed geophysical anomalies along the same
trend as Tenke-Fungurume are going to be the focus of drilling over
the next few months."
About the Company
Mukuba is a Canadian mining company focused on the exploration
and development of the Northcore Project, which is located in the
highly prospective Central African Copperbelt region of Central
Zambia. Mukuba holds a 100% interest in the Northcore Project which
is licensed for both copper and cobalt and encompasses
approximately 2,274 square km of geologically prospective ground in
the Domes Region of the Zambian Copperbelt. Geological mapping,
soil sampling and investigation of the historical showings as well
as ground-truthing of the geological surveying results have
confirmed existing historical geological anomalies, and identified
new anomalies. Encouraging intersections from numerous boreholes
during the Company's 2010 exploration program confirmed the
presence of copper mineralization.
Mukuba also has an exclusive Option Agreement between Lukusashi
and Lunga Resources Limited ("Lunga"), a wholly owned subsidiary of
Mukuba Resources Limited, to purchase an 85% interest in the Nyimba
Project license rights (see Press Release dated September 16, 2010)
located near the town of Nyimba approximately 300 km east of
Lusaka, Zambia. The Nyimba Project is well advanced and substantial
exploration work has been completed to date. The polymetallic
deposits at Nyimba host zinc, with copper, lead, molybdenum, silver
and gold and were systematically explored and partially drilled by
Minex (Mindeco), a Zambian government department in the late 1970's
and early 1980's and were later acquired by Rio Tinto-Zinc
Corporation (RTZ-now Rio Tinto) in 1994. Mukuba continues to assess
historic exploration records which indicate there are five defined
areas of mineralization within the 500 square kilometre license
area. The most prospective area appears to be Chipirinyuma, where
soil sampling by Minex and Rio Tinto defined a surface anomaly
measuring 3.5 km by 1.2 km and drilling by Mukuba confirmed base
metal mineralization.
Qualified Person
Mr. Chris Meyer (Pr.Sci.Nat.) is a "Qualified Person" as defined
by National Instrument 43-101 and oversees Mukuba's exploration
programs. Mr. Meyer has supervised and approved the preparation of
the technical information contained in this press release.
Forward-looking Information
Securities regulators encourage companies to disclose
forward-looking information to help investors understand a
company's future prospects. This press release contains statements
about our future business and planned activities. These are
"forward-looking" because we have used what we know and expect
today to make a statement about the future. Forward-looking
statements usually include words such as may, intend, plan, expect,
anticipate, believe or other similar words. We believe the
expectations reflected in these forward-looking statements are
reasonable. However, actual events and results could be
substantially different because of the risks and uncertainties
associated with our business or events that happen after the date
of this press release. You should not place undue reliance on
forward-looking statements. As a general policy, we do not update
forward-looking statements except as required by securities laws
and regulations.
Contacts: Mukuba Resources Limited Trevor Richardson President
and Chief Executive Officer +1 (416) 918 2242 +1 (416) 603 9200
(FAX) trichardson@mukubaresources.com www.mukubaresources.com
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