Blackthorn Resources Limited (ASX:BTR) is an Australian-based resources company that is unearthing value from a diverse portfolio of base and precious metal projects in Africa.

The high-grade Perkoa Zinc Mine in Burkina Faso is currently under construction and targeting full production in second half of 2012. Joint venture partner Glencore International is managing and operating the mine, as well as funding mine development.

Blackthorn Resources is exploring for gold in Burkina Faso and an initial gold resource was defined at the Guido Prospect during 2010. Grassroots exploration of the Company’s extensive exploration permits is at an early stage and numerous targets remain to be thoroughly drill tested.

In Zambia, the Mumbwa Copper-Gold Project  is exploring for large Iron Oxide Copper-Gold (“IOCG”) deposits, similar to the style of mineralisation found at the Olympic Dam and Prominent Hill mines in South Australia, and the Ernest Henry mine in Queensland. Drilling has delineated an initial Inferred Mineral Resource of 87 million tonnes at 0.94% copper (using 0.5% Cu cut-off) at the Kitumba Prospect. Joint venture partner BHP Billiton progressed further drilling on the Mutoya-Mushingashi anomalies in 2010 prior to amicably announcing their intention to withdraw from the JV in 2011. Blackthorn Resources now owns 100% in the Mumbwa Project.
Blackthorn Resources (ASX:BTR)
Company Directors
Mr Derek Carter (Non-executive Director)
Mr Michael Oppenheimer (Non Exec. Director)
Mr Mr William Cash (Non Exec. Chairman)
Mr Nicole Bowman (Non Exec. Director)
Contact Information
Phone: (02) 9357 9000
Email:
Website:

Address
Level 5, Suite 502, 80 William Street, NSW, SYDNEY, AUSTRALIA, 2011
Media Releases
BLACKTHORN RESOURCES, QUARTERLY ACTIVITIES REPORT - Period Ended 31 December 2011
25 Jan,2012 04:09 PM

KEY POINTS

PERKOA JV (Blackthorn Resources 39.9%)
- Onsite construction activity and underground mine development and drilling continued in-line with expectations.

- First development ore produced from the underground workings.

- Conditional approval given by the Board to participate in the expansion of the Perkoa Project, with funding for the Company’s pro-rata share of incremental investment to be available via project financing provided by Glencore.

MUMBWA PROJECT (Blackthorn Resources 100%)
- Phase 5 drilling program continued with significant high-grade copper mineralisation reported from infill drill holes at Kitumba and exciting shallow-depth copper mineralisation from Target A at Mutoya.

BURKINA FASO EXPLORATION (Blackthorn Resources 100%)
- Base metals exploration program developed with a focus on the northern tenements held by Blackthorn Resources.

- Three-year renewals granted for SEBOUN and SEPAOGO exploration permits.

- Strategic review of gold exploration rights being undertaken.

CORPORATE
- Cash on hand at 31 December 2011 was $10.7 million

- Annual General Meeting held on 25 November 2011.


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