Name and Location
Mumbwa iron oxide/copper/gold exploration project phase 4, Zambia.
Project Description
The fourth phase of the Mumbwa project, which is located about 200 km west of Lusaka, involves the exploration of the Mushingashi anomaly for iron-oxide copper/gold-style mineralisation, as well as a scoping study to evaluate the exploration and development of the project.
The exploration project will use two universal drilling rigs to test the anomaly.
The concept study will incorporate additional data from the phase 4 drilling, as well as the inferred mineral resource estimate from the Kitumba anomaly.
Value
Not stated.
Duration
The two drill rigs are expected to be on site in March 2010. The programme will start after the wet season and on completion of site improvement works, which are expected to start in April 2010.
Client
The project is a joint venture (JV) between BHP Billiton and Blackthorn Resources.
Key Contracts and Suppliers
Boart Longyear (drilling).
Latest Developments
The JV has been granted renewal of the prospecting licence for two more years to allow exploration in the region to continue. The licence is for a 500-m2 area.
BHP Billiton has decided to fund this phase of the project, which will include a concept study.
Boart Longyear has been awarded a contract for the drilling.
On Budget and on Time?
Drilling has been suspended during the wet season but some on-site work to improve safety and upgrade office and accommodation facilities is continuing.
Contact Details for Project Information
Blackthorn Resources Computershare investor services, tel +61 3 9415 4000 or
fax +61 3 9473 2500; or MD Scott Lowe, tel +61 2 9357 9000.
Boart Longyear investor relations, tel +1 801 977 3334 or email nallen@boartlongyear.com.