Following the release of a maiden resource statement for the Kamoa-Kakula project, Africa-focused project developer Ivanhoe Mines has confirmed the Democratic Republic of Congo- (DRC-) based project as the largest copper discovery ever made on the continent.
The company last weekpublished a technical report prepared by US-based firm Amec Foster Wheeler, outlining a compliant indicated resource totalling 192-million tonnes grading 3.45% copper, containing 14.6-billion pounds of the red metal at a 1% copper cutoff.
At a higher cutoff of 3% copper, Ivanhoe advised the discovery held indicated resources totalling 66-million tonnes grading 6.59% copper, containing 9.6-billion pounds of copper.
The project also holds inferred resources totalling 101-million tonnes at a grade of 2.74% copper, containing 6.1-billion pounds of copper at a 1% copper cut-off. “At the higher cutoff of 3% copper, the project holds inferred resources totalling 27-million tonnes at a grade of 5.26% copper, containing 3.2-billion pounds of copper.
“With the initial resource now established, we are evaluating technical and infrastructure options to rapidly advance the development of the near-surface, highest-grade copper resources at Kakula. “Our mine planning will focus on how to expeditiously develop the zones of thick, bottom-loaded chalcocite, grading in excess of 6% copper, near the centre of Kakula’s high-grade area.
“Given that the copper grades at Kakula are significantly higher than the average grades found elsewhere at Kamoa, we are highly confident that fast-tracking the development of Kakula will have a profound and positive impact on the economics of the overall Kamoa-Kakula project,” Ivanhoe executive chairperson and celebrity miner Robert Friedland stated.
According to the technical report, the average true thickness of the selective mineralised zone (SMZ) at a 1% cutoff is 14.27 m in the indicated resources area and 10.33 m in the inferred resources area. At a higher 3% cutoff, the average true thickness of the SMZ is 5.91 m in the indicated resources area and 5.15 m in the inferred resources area, the company stated.
Ivanhoe said the resource estimate was based on the results from about 24 000 m of drilling in 65 holes. A further 13 holes totalling more than 7 000 m have been completed and assay results are pending. Mineralisation is open along trend to the north-west and the south-east, while the remainder of the Kakula exploration area remains untested, providing significant potential for resource expansion.
Kakula is the second major discovery on the Kamoa mining licence in the past eight years.