Regal upgrades DRC project's resource
PERTH (miningweekly.com) – Junior explorer Regal Resources has reported a near 75% conversion of its previous inferred resource at the Kalongwe copper/cobalt deposit, in the Democratic Republic of Congo, to the measured and indicated category.
The ASX-listed company reported on Thursday that Kalongwe deposit was estimated to host a measured, indicated and inferred resource of about 11.17-million tonnes, grading 2.7% copper, and 2.29-million tonnes, grading 0.57% cobalt.
Of the total resource, 3.31-million tonnes, grading 3.61% copper, and 1.24-million tonnes, grading 3.35% cobalt, were classified as measured.
The upgraded mineral resource incorporated all drilling results of the Phase 2 infill drilling programme, which had targeted the upper part of the deposit in the areas considered to be amenable to openpit mining.
“The updated mineral resource estimate for the Kalongwe mining joint venture is confirmation of the robustness of the Kalongwe project and a major step forward in realising the ambitious objective of developing a mining operation for the Kalongwe partners,” said Regal MD David Young.
“The quality of the resource estimate is of special significance as it has confirmed and underpinned by some way the initial estimate of the resource potential inferred by the exploration team.”
Young said that with the completion of the updated resource estimate, the project partners were now in a position to complete scoping level work to examine various production options for the mine, including a staged development aimed at minimising up-front capital expenditure.
Regal acquired its initial 30% stake on the Kalongwe project in November last year.
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