Key points
- The Mumbwa exploration licence (8589-HQ-LPL) renewal application has been approved.
- The renewed licence is approximately 248 sq km and contains the Kitumba deposit.
- The renewal represents the commencement of the third and final 2-year period since the licence was first issued in November 2007.
- An additional exploration licence, “Kabwera” (14267-HQ-LPL) covering approximately 147 sq km has also been granted.
- This new licence brings the total number forming the Mumbwa Project to four licences covering approximately 790 sq km.
Background: The Mumbwa Project
Blackthorn Resources Limited (ASX: BTR) (“the Company”) is pleased to provide the following announcement regarding exploration tenure covering the Company’s 100% owned Mumbwa Project in Zambia which hosts the Kitumba deposit. Blackthorn Resources is targeting Iron Oxide Copper-Gold (IOCG) style mineralisation in the Mumbwa District, which is located approximately 200 km west of the capital Lusaka. The Company is currently undertaking the Phase 6 exploration program that includes diamond drilling up to 16,000m with four drill rigs in operation. First assays from this campaign are expected during October 2012.
Mumbwa licence renewal
The Mumbwa licence (8589-HQ-LPL), which is currently held on trust for the Company’s wholly-owned subsidiary Blackthorn Resources (Zambia) Limited by BHP Billiton World Wide Exploration, has been renewed by the Ministry of Mines, Energy and Water Development.
This licence was formally part of a joint venture with BHP Billiton who exited the project in mid-2011. The project is now 100% owned by Blackthorn Resources. With the renewal now in place, the process of transferring the licence to Blackthorn Resources (Zambia) Limited can commence in accordance with BHP Billiton’s contractual obligations.
