Name and Location
Kitumba copper project, Zambia.

Client
Blackthorn Resources.

Project Description
A scoping study completed on the Kitumba project has supported the economic potential of the project.

The study evaluated a truck-and-shovel, openpit mine using conventional mining techniques and was based on a recently completed geological model, which estimated 439-million tons of in situ ore at 0.25% copper cutoff, comprising 164-million tons of indicated mineral resource and 275-million tons of inferred mineral resource.

Value
The estimated start-up capital expenditure (capex) for the project is $377-million, assuming the mining fleet and mobile equipment are leased and owner-operated.

The capex includes $145-million for the process plant, $134-million for project development and infrastructure, $35-million for prestripping and a $63-million contingency.

Duration
Not stated.

Latest Developments
Blackthorn Resources has started a prefeasibility study (PFS) on the Kitumba project.

The PFS was commissioned following the successful completion of the scoping study in September 2012, which indicated positive economic potential for the Kitumba deposit.

Key Contracts and Suppliers
Lycopodium Minerals (PFS).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Blackthorn Resources, tel +61 2 9357 9000, fax +61 2 9332 1336 or
email info@blackthornresources.com.au.
Lycopodium Minerals, tel +61 8 6210 5222 or fax +61 8 6210 5201.