PERTH (miningweekly.com) – Junior firm Blackthorn Resources has reported a maiden ore reserve of 33.5-million tonnes, grading 1.7% copper, at its Kitumba deposit, which forms part of the Mumbwa project area in Zambia.
The project is estimated to contain about 541 000 t of copper.
“We are very pleased at being able to announce a maiden ore reserve at Kitumba of over 500 000 t of copper in probable ore reserves, on the back of our positive prefeasibility study (PFS),” said Blackthorn MD Scott Lowe on Wednesday.
The September PFS attached a $358-million capital cost estimation to the development of the Kitumba project, to deliver yearly copper production of between 36 000 t and 40 000 t, over an 11-year life-of-mine.
Lowe stated that Blackthorn would update both the mineral resource estimate and the ore reserve towards the end of the year, and would also update the PFS with a view to optimising the economic outcomes.