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PrintBlackthorn Resources (ASX: BTR) has updated Resources at the Kitumba deposit at its wholly-owned Mumbwa Project in Zambia by 25% to 34.7 million tonnes grading 2.29% copper at a 1% cut-off.
Importantly, this now includes a Measured Resource of 10.4Mt at 2.93%, or 306,000 tonnes of contained copper.
Optimisation of metallurgy, process plant design and mine plan is underway using this updated Resource estimate.
“We are delighted with this Mineral Resource update. The excellent results reported from the Phase 7 drilling program have translated into an increase in tonnes, grade and confidence level, delivering an increase of over 25% in contained copper metal in the high-grade zone of the Kitumba deposit,” acting chief executive officer Mike Oppenheimer said.
“At a 1% Cu cut-off, the Mineral Resource now has a copper grade of 2.29%, confirming Kitumba’s ranking as one of the highest grade undeveloped copper resources of ASX listed projects.
“With over 10 million tonnes of Mineral Resource at nearly 3% in the Measured category, or 306,000 tonnes of contained Cu metal, we look forward to being able to announce an update to the Ore Reserve estimate, once the optimised mine plan has been completed.
He said the company is now focused on optimising other key economic drivers, including metallurgy and process plant design to improve metal recovery, in parallel with optimisation of the mine design.
“The PFS Optimisation is proceeding to schedule and is expected to be completed by April 2014,” Oppenheimer added.
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