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.