TORONTO (miningweekly.com) – Monday was a busy day for  Toronto-based Mukuba Resources - executives from the company, which is exploring for copper in Zambia, opened the market at the TSX just hours after the firm published the initial results from its 2010 drilling campaign.

Mukuba listed on the TSX Venture Exchange in February after raising around C$8-million in an initial public offering, which the company has put to work in a 10 000-m drilling programme at its 2 274-km² Northcore project, on the central African Copperbelt.

The firm said on Monday that assay results from the first eight boreholes drilled at Targets 17 and 18 at Northcore had confirmed the presence of copper mineralisation.

The company will likely publish the next set of results in the coming weeks, and expects a steady stream of news over the next few months, CEO Trevor Richardson said later in the day.

Drilling will continue until the rainy season starts in November, and the company expects to end the year with about C$2,5-million, he said.

Assuming that results continue to be positive, Mukuba will likely look at raising more funds early in 2011, followed by an even bigger drilling programme.

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