The company has identified and executed a binding terms sheet for the option to acquire a small scale copper mine in Zambia inclusive of 800 hectares. The mine has an open pit where mineralised copper oxide ore has been identified and is being extracted.
Kantobo Copper Project - Zambia – Option to acquire
The Kantobo Mine offers a unique opportunity to acquire a small scale copper mine in the Zambian Copperbelt. Kantobo comes with extremely low holding costs, good community relations and significant exploration upside both in close proximity to the mine and at nearby identified targets. The exploration risk has been significantly reduced with planned exploration targeting extensions of known mineralisation. The company is now applying for a large scale prospecting license over the area currently covered by the two small scale mining licenses (800 hectares).