Kalongwe Copper-Cobalt Project (DRC)

“…Kalongwe is a significant high-grade oxide Cu-Co near surface resource which has potential to be developed into a near term – low CAPEX low OPEX mining operation…”

Kalongwe Project Overview

Please watch the video below to get an in depth look at the entire proposed Kalongwe Copper Cobalt Project.

    • Located in the Katanga Province, DRC.
    • ~15km from Kamoa, considered to be Africa’s largest recent high-grade copper discovery which boasts a Mineral Resource of 11.17 million tonnes grading 2.7% Cu
    • ~45km from the historic copper mining and processing centre at Kolwezi.

Kalongwe location

Project Ownership

  • Ownership of PR 12198 (exploitation licence) transferred to Kalongwe Mining SA, a DRC registered company
  • Interest in Kalongwe Mining SA jointly held by Nzuri Copper Limited (85%), La Generale Industrielle et Commerciale au Congo SPRL (10%) and DRC Government (5%).

Phase I Diamond Drilling Programme

  • Completed June 2014.
  • 12-holes; 1,785m; drill density: 100m x 100m.
  • Results validated 2006/2007 Ivanhoe drill results, and confirmed Kalongwe deposit as a very high grade Cu-Co resource with oxide mineralisation.
  • Significant results included:
    • 68.30m @ 4.92%  Cu and 0.57% Co               76.70m  @ 4.06% Cu and 0.52% Co
    • 16.30m  @ 8.05% Cu and 1.33% Co                 90.23m @ 3.38% Cu and 0.93%  Co
    • 76.60m  @ 4.14%  Cu and 0.57% Co                70.00m @ 2.22% Cu and 0.84% Co

Phase I

Phase II Diamond Drilling Programme

  • Completed November 2014.
  • 34-holes; 4,287m; drill density: 50m x 50m, 25m x 25m locally.
  • Designed to upgrade and reclassify the initial Mineral Resource estimate.
  • Significant results included:
    • 101.3m  @ 4.25%  Cu & 0.42% Co from 10.1m        57.30m @ 4.58% Cu & 0.62% Co from 3.80m
    • 96.70m @ 3.76% Cu & 0.53% Co from 15.0m        92.10m @ 5.24% Cu & 0.55% Co from 21.0m
    • 87.50m @ 3.35%  Cu & 0.37% Co from 48.3m       80.50m @ 4.27% Cu & 0.76% Co from 25.7m
    • 75.00m @ 6.30% Cu & 0.73% Co from 12.0m        69.00m @ 5.29% Cu & 0.77% Co from 5.50m
    • 68.20m @ 3.98% Cu & 0.53% Co from 6.00m       62.90m @ 3.26% Cu & 0.43% Co from 19.5m

Phase II

JORC Mineral Resource

  • Completed February 2015.
  • Data used from ~98 drill holes (~16,000m; 2006/2007 Ivanhoe data and 2014/2015 Kalongwe drill campaigns).
  • JORC Mineral Resource:
    • 11.7Mt @ 2.70% Cu, 302,000t Cu including 4.2Mt @ 0.64% Co, 29,700t Co, and
    • 2.29Mt @ 0.57% Co, 13,000t Co.
    • Total: 302kt Cu and 42.7kt Co.
  • Predominantly malachite, deep base of oxidation.
  • Broad zones of high-grade Cu-Co extend down dip from surface exposure.
  • High-grade Co zones inside the Cu resource.

KEY
1    The Cu only domains were reported by selecting blocks with Cu >= 0.5%.
  The Co only domains were reported by selecting blocks with Co >= 0.2%.
3   The Mixed Domains (blocks located within overlapping Cu and Co domains) were reported by selecting blocks with Cu >= 0.5%. The Co grade from these blocks was also reported.
4   The total Co tonnes and grade within the Mixed Domain are reported from blocks where Cu>=0.5%, and are not additional to the total Cu Mineral Resources quoted from the Mixed Domain.
5   The total Co tonnes and grade from the Mixed and Co-only Domains are presented as total tonnages only, without reference to JORC classification. The tonnes are not additional to the total Cu Mineral Resources quoted from the Mixed Domain.

Deposit Geology

  • Host is the Lower Roan Stratigraphy.
  • Multiple thick, high-grade intersections.
  • Good continuity between holes.
  • Robust geology.
  • High-grade mineralisation through structural overprint.
  • Mineralisation open at depth and down plunge.
  • Depth of oxidation to ~150m.

Metallurgy

  • Oxide ore suited for upgrading by Heavy Media Separation and spirals to produce +20% Cu concentrate.

Scoping Study

  • Completed April 2015. Refer to ASX announcements on 21 April 2015 and 3 June 2016 for further details.
  • Scoping Study Confirmed Project Viability.
  • Robust – based on Measured & Indicated JORC Mineral Resource Estimate
  • Simple mining and beneficiation process..

Feasibility Study

  • 2017 Feasibility Study – +/- 15% accuracy, nearing completion.