Power Metal Resources plc has had its exploration licence converted to a 25-year production licence as it prepares to drill for copper-cobalt at the Kisinka project in the Democratic Republic of Congo (DRC).
The licence covers 61 carrés, each of 84.95 ha for a total of 5,181.95 ha, at the project located 30km east of the regional capital of Lubumbashi in the southern part of the Katangan copper belt.
The miner, which holds a 70% interest in Kisinka, has also recently completed a high-resolution 276 line-km ground-based magnetic survey (125 metre spacing).
A next phase of exploration includes an induced polarisation (IP) survey over several new magnetic anomalies recently identified to identify possible supergene*** and/or disseminated copper-cobalt mineralisation.
Following the IP survey, Power Metal intends to start an immediate drilling programme and is currently seeking quotations for the next phase of work.
SURVEY RESULTS
Results of the ground-based magnetic survey highlighted a prominent magnetic high anomaly coincident with a regionally important northwest trending diamictite* unit.
A northwest trending hematitic** iron formation unit was also defined as a linear magnetic feature, which is broadly coincident with elevated copper and cobalt geochemical results.
Power Metal said that the geological model possessed many similarities to other sediment-hosted copper deposits found within the Congolese copper belt.
Two additional northwest trending magnetic high features were also identified within the southern portion of the surveyed area, which are also associated with a diamictite unit.
SUPPORT
Chief executive Paul Johnson added that the grant of a production licence gave considerable support for the project and the company looked forward to the upcoming drill programme.
“The size of the mineralised area identified by the work to date makes Kisinka an important potential copper-cobalt project in the company’s base metal portfolio, in what we believe is one of the world’s best copper-cobalt districts.”
*Diamictite – a type of lithified sedimentary rock that consists of unsorted to poorly sorted sediment with particle sizes ranging from clay to boulders suspended in a matrix of mudstone or sandstone.
**Hematitic iron formation – a sedimentary rock formation (often banded) that is dominated by the mineral hematite (Fe2O3).
***Supergene – zone of secondary mineral enrichment (eg copper) that occurs near the earth’s surface.