Nama copper-cobalt-nickel project in Zambia: Caledonia Mining
Source: Edited Press Release
Caledonia Mining
Monday announces the filing of an Independent Technical Report
for the Anomaly "A" area of the Nama Cobalt and Copper Project.
The NI 43-101 report concluded that Anomaly "A" of
the Nama Project has a potentially economic resource of cobalt
and copper with lesser quantities of nickel down to a depth
of more than 210 metres below surface.
An Indicated Resource amounting to 43.7 million tonnes at grades
of 0.055% cobalt
and 0.1% copper in an oxidized open-pittable deposit
has been defined.
The resource contains an estimated, in situ, 53 million pounds
of cobalt
and 96 million pounds of copper to a depth of 200 metres
below surface.
The evaluation is based on a total of 160 drill intersections
with a maximum hole spacing of 150 metres.
Some of the mineralized bodies comprising the Anomaly "A" resource,
as defined by the report, remain open-ended on strike and/or
down dip.
The resource of Anomaly "A", on its own, is considered sufficient
for an initial two years production in terms of the existing
signed letters of intent for long term product
purchase agreements.
In total 16 cobalt anomalies have been identified in
the Nama Project area, of which 5 have been explored
to varying extents.
As a priority, a drilling program to investigate
the extensions to Anomaly "A", in addition to
Anomalies "C" and "D", is currently being considered
with a view to defining an additional resource
in the near future.
The remaining 11 anomalies, with similar potential
to the above anomalies, all require follow-up drilling
and geological field programs.
Metallurgical testwork conducted to date has provided
a proposed metallurgical flow sheet.
A further bulk sample has been taken from Anomaly "A"
to enhance and refine the metallurgical processes
and cost parameters for producing a marketable
and economically viable cobalt product.
On the basis of this testwork, it is anticipated
that the design of a pilot plant will be finalized
enabling Caledonia to conclude long term product
purchase agreements based on the letters of intent.
Stage 1 of the production process will be
the construction of a pilot plant
which will serve as an ongoing metallurgical
test facility.
Nama Cobalt Project
Nama Group of Licences including Konkola West
This group of 5 contiguous licences covers an area of 806 square
kilometres on the northern extension of the Zambian Copperbelt
and hosts open-pittable near-surface low grade cobalt / copper
mineralization.
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