Blackthorn Resources Limited (ASX:BTR) (“the Company” or “Blackthorn Resources”) is pleased to provide an updated Mineral Resource estimate for the Kitumba IOCG deposit, located within the Mumbwa Project area in Zambia. Blackthorn Resources holds a 100% interest in the Mumbwa Iron Oxide Copper-Gold (“IOCG”) Project.
Following the recent completion of the Phase 5 drilling programme, the Company engaged The MSA Group (“MSA”) from South Africa as an independent consultant to conduct the updated mineral resource estimate, which is reported in accordance with the 2004 JORC Code. The updated mineral resource estimate follows on from the maiden Inferred Mineral Resource estimate undertaken by MSA and announced on 19 October 2009. The Phase 5 drilling programme commenced in August 2011 and completed drilling 21 holes for a total of 10,934 meters. The majority of these holes represented “infill” or “step-out” holes designed to respectively increase geological and grade confidence in the resource and to extend the existing resource. The drilling programme was successful in achieving both objectives.
Using a 0.5% Cu cut-off, the Kitumba Deposit now contains an in-situ Indicated and Inferred Mineral Resource of approximately 80Mt at 1.33% copper (“Cu”) and 0.04 g/t gold (“Au”) and 107 Mt at 1.0% Cu and 0.04 g/t Au respectively. Data for the mineral resource estimate were collected from current and previous drilling campaigns and included 25,483m from 47 cored drill holes and three reverse circulation drill holes.
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