The Mbamba Kilenda Project covers a 54 km2 area located on the eastern end of the overall strike length, which has a JORC Code (2012) compliant Mineral Resource Estimate of 11.8Mt at 3.13% total copper, at a cut-off grade of 1.0% Cu. The Company is planning to enter the development phase, with PFS engineering completed in October 2020 and confirmatory PFS on-site work to be completed in 2021. The equity raise will finance the geotechnical and hydrogeological testwork, resource expansion drilling, metallurgical confirmation, resource infill drilling, value engineering and optimisation, which will be carried out over the next 18-24 months, all in preparation for the proposed commencement of mining (subject to raising additional capital). The Company is targeting operational readiness in 2022 with 1.4Mt (circa. 30kt Cu) to be produced in the first three years and targeting 1 Mtpa from year 4 to 13 (30kt Cu per year).
DRC: Mbamba Kilenda Project
CCR’s 65% owned subsidiary in the DRC, COMILU, has been developing the Mbamba Kilenda Project, which is the first project on an 85 km strike length across a 770 km2 licence area rich in copper in the western DRC.
Overview
- Preparing for commencement of Mining Evaluation in early 2022 for an initial three-year period
- Revised understanding of resource potential of MBK by end of 2021, with commencement of this expansion in 2022
- 5.5 km mineralised zone open to the east and west along strike
- Geophysics suggest continuity of controlling structure to mineralisation along licenced 85 km strike length with a total area of 773 km2
- CCR developed preliminary mine plan targeting operational readiness in 2022 with 1.4Mt (circa. 30kt Cu) to be produced in the first three years and targeting 1 Mtpa from year 4 to 13 (30kt Cu per year)
- Further regional exploration in-country across historic vanadium deposits in the eastern Senge licence
High grade copper project with robust mining and process recoveries
- Mineral Resource Estimation – 11.8 Mt at 3.13% Cu for 370kt Cu (1% c/o)
- Mining – >10Mt to be mined at average 3% copper over a 13-year LOM (current resource only)
- Process – gravity plus float giving >80% copper recoveries and producing concentrates (>20% Cu)
- Additional by-products of Pb, Zn, Ag and V
- Potential for resource expansion with current resource open to the east and west
Commencing development phase
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PFS engineering completed in October 2020. Confirmatory PFS on-site work to be completed in 2021*
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Operational readiness in 2022 with 1.4Mt (circa. 30kt Cu) to be produced years 1-3 and targeting 1 Mtpa from year 4 to 13 (30kt Cu per year)
*Engineering work completed subject to 2021 confirmation work and includes inferred Mineral Resources
JORC Mineral Resource
0.25% TCu cut-off / mineralised inventory
| JORC Classification | Tonnage (Mt) | Cu (%) | Pb (%) | Zn (%) | Ag (ppm) | Cu metal (kt) | Pb metal (kt) | Zn metal (kt) | V metal (t) | Ag metal (koz) |
|---|---|---|---|---|---|---|---|---|---|---|
| Indicated | 6.5 | 2.60 | 0.67 | 1.22 | 11.5 | 169.8 | 43.8 | 79.7 | 4,800 | 2,400 |
| Inferred | 13.3 | 1.77 | 0.25 | 0.35 | 3.0 | 234.7 | 33.2 | 46.4 | 5,500 | 1,300 |
| Total | 19.8 | 2.04 | 0.39 | 0.64 | 5.8 | 403.9 | 77.2 | 126.7 | 10,400 | 3,700 |
Resource cut-off grade of 1% TCu (JORC Compliant)
| JORC Classification | Tonnage (Mt) | Cu (%) | Pb (%) | Zn (%) | Ag (ppm) | Cu metal (kt) | Pb metal (kt) | Zn metal (kt) | V metal (t) | Ag metal (koz) |
|---|---|---|---|---|---|---|---|---|---|---|
| Indicated | 5.33 | 3.07 | 0.71 | 1.37 | 11.7 | 163.6 | 37.8 | 73.0 | 4,100 | 2,000 |
| Inferred | 6.47 | 3.19 | 0.39 | 0.53 | 4.5 | 206.4 | 25.2 | 34.3 | 4,400 | 900 |
| Total | 11.8 | 3.13 | 0.53 | 0.91 | 7.7 | 369.3 | 62.5 | 107.4 | 8,500 | 2,900 |
Potential resource expansion
Mineralisation is open-ended to the east and west
- Current orebody 4.5 km long. Expanding the current resource will be achieved by drilling to East & West with a fenceline planned every 500m
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Infill drilling will inform and potentially revise the geological modelling parameters
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Company targeting a significant increase of resource potential with upcoming drill programme
