PERTH (miningweekly.com) – ASX-listed explorer Blackthorn Resources has taken ownership of the Mumbwa prospecting licence after completing the transferral with the exploration arm of major BHP Billiton.
The prospecting licence was first granted in 2007, and has twice been renewed for a total of three two-year periods. A seventh year is also allowable, with approval from the Director of Geological Survey, in Zambia.
Following the transfer of the licence from BHP, Blackthorn has now submitted an application for the renewal of the licence for the seventh year, expiring in November 2014.
Blackthorn MD Scott Lowe said that the company also intended to apply at a later date for the conversion of the prospecting licence to a mining licence.
“The company enjoys a positive reputation with the Zambian government, having recently been granted renewal of some other licences without the need to relinquish ground,” said Lowe.
“The Mumbwa licence has been successfully renewed on two previous occasions and we are confident that the application meets the requirement for renewal of the licence for a seventh year.”
The Mumbwa tenement covers some 250 km2 and is being explored for iron oxide/copper/gold mineralisation. Within the Mumbwa tenement lies the Kitumba deposit, which has an indicated mineral resource of 87.6-million tons at 1.17% copper and 0.03 g/t gold.
A prefeasibility study on the Kitumba project was expected by late August.