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Zambia’s copper potential coming to the fore again as Castillo survey shows upside

22nd April 2022

By: Martin Creamer

Creamer Media Editor

     

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London- and Sydney-listed base metal explorer Castillo Copper has identified multiple copper-potential drill-testing targets at its Mkushi project in Zambia, Africa’s second-largest copper producer.

Castillo stated in a release to Engineering News & Mining Weekly earlier this month that the formulation of a drilling campaign would be the next step towards further developing Mkushi, one of Castillo’s four projects that cover about 1 100 km2 on Zambia’s renowned Copperbelt. The other three are Luanshya, Lumwana North and South and Mwansa.

With multiple primary test-drilling targets having boosted the exploration potential of Mkushi and Luanshya materially, the Castillo board has decided to seek a strategic partner to develop its Zambian assets additionally.

The fully owned Mkushi surounds the licence area of the Shi Yan Group, which reportedly hosts high-grade copper.

Castillo’s findings are those of a final geophysicist’s report that interpreted the results of an induced polarisation (IP) survey against three areas of known copper soil anomalies, with strike lengths ranging from about 4 km to 7 km.

Castillo Copper MD Dr Dennis Jensen described Mkushi’s IP survey results as being outstanding, “especially as they throw off numerous potential targets to test-drill for copper mineralisation”.

More significantly, he stated that they complemented the results from Luanshya, where 14 primary targets had been identified.

“Moving forward, the board is now actively seeking to align with a strategic partner to fully develop the Zambian assets,” Jensen added.

The geophysicist’s interpretations point to disseminated copper sulphide mineralisation.

Forty preselected IP lines across 54 km were used to test soil geochemical anomalism for potential disseminated copper mineralisation across three target areas, with the report noting a major fault that cuts across Mkushi, which could potentially be the source of mineralising fluids in the region. This, the release added, was consistent with earlier findings that identified two parallel shear zones that originate in Shi Yan Group’s contiguous mining lease, one in ground where copper mining is taking place.

Zambian Mining Sector

As reported by Engineering News & Mining Weekly in December, Zambia Commerce, Trade and Industry Minister Chipoka Mulenga, the MP for Chingola, a Copperbelt area, said during a visit to South Africa that Zambia was targeting the regaining of its once pre-eminent copper-mining position.

Mulenga was speaking at a spotlight-on-Zambia event hosted by Webber Wentzel and Musa Dudhia & Co.

The event took place against the background of the government of Zambia, under President Hakainde Hichilema – who is known as HH – taking steps to introduce investment and economic policies to enable business and investment.

While Zambia was intent on also diversifying its economy, Mulenga emphasised that copper remained a major contributor to Zambia’s National Treasury, and by regaining ground in copper the country would earn substantial foreign exchange for the benefit of the Zambian people.

The Zambian government had thus set targets to produce three-million metric tonnes of copper a year by 2026. “We want to hit three-million metric tonnes of copper and beyond,” Mulenga enthused.

Green Energy

Mulenga also outlined the new government’s ambition to advance the generation of green energy.

This would be assisted, he said, by the country’s new Green Ministry, which had been established to advance sun and wind energy, in addition to the development of more green hydropower in areas not prone to drought.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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