Emerging miner Copper 360 has started a drilling campaign to confirm the historical drill database from Newmont and Gold Fields on the Rietberg copper mine, in the Northern Cape.
The company had used the previous extensive geological database to model large bodies of copper mineralisation which will be targeted for mining. Owing to the core from the drill holes not being available, the company, as the final step before mining begins, has started a drilling campaign to test the validity of the historic geological database.
The company says results from the first two boreholes have confirmed the validity of the historical database in every aspect from geological rock type, type and quantity of mineralisation, and intersection widths and depths.
The first two holes have made copper intersections of over 45 m each just 30 m below surface. Initial X-ray fluorescence analysis yielded copper values of between 5% and 7% copper.
“Having copper orebodies of over 40 m wide with continuous mineralisation running over 3% to 5% copper over the entire hole just 30 m below surface is spectacular and has exceeded all our expectations.
“What is more, we have development less than 50 m away from the mineralisation with all underground infrastructure in terms of ore-passes etcetera already in place. We are currently busy with plant construction and will provide the market with further project updates in the coming months. We continue our drilling programme and will present these results on the day of listing aimed for the end of February,” comments CEO Jan Nelson.
Copper 360 was formed in November 2022 following a reverse takeover of copper producer Big Tree Copper and copper miner SHiP Copper. The company will list on the JSE this month.
Copper 360 is currently producing 1 200 t/y of A-grade copper cathode and is aiming to ramp up production to 7 700 t/y of copper within 24 months.
It is currently building three new copper flotation plants at a cost of R280-million.