Close

The Mumbwa large-scale prospecting license in Zambia has been successfully transferred from BHP Billiton to Blackthorn Resources (Zambia) Limited.

Blackthorn Resources (Zambia) Ltd is a Blackthorn Resources Limited (ASX: BTR) (Blackthorn) subsidiary.

Blackthorn Resources MD, Scott Lowe has said they are very pleased that the Mumbwa licence has now been successfully transferred to Blackthorn Resources (Zambia) Limited. “The company enjoys a positive reputation with the Zambian Government having recently been granted renewal of some other licenses without the need to relinquish ground. The Mumbwa license has been successfully renewed on two previous occasions and we are confident that the application meets the requirements for renewal of the license for a seventh year.”

Highlights

·         Blackthorn Resources advises of the successful transfer of the Mumbwa large-scale prospecting license (8589-HQ-LPL) in Zambia from BHP Billiton World Exploration Inc. (a BHP Billiton subsidiary) to Blackthorn Resources (Zambia) Limited (BRZL), a wholly-owned subsidiary of Blackthorn Resources.

·         In Zambia, large-scale prospecting licenses can be renewed twice for a total of three two-year periods. A seventh year is also allowable with approval from the Director of Geological Survey.

·         The Mumbwa large-scale prospecting license (8589-HQ-LPL) was initially granted in November 2007.

·         Following the successful transfer of the license from BHP Billiton, BRZL has submitted an application for renewal of the license for the seventh year (to expire November 2014).

·         Blackthorn is confident that the application meets the requirements for renewal of the license for a seventh year.

·         BRZL also intends to apply for conversion of the prospecting licence to a Mining License at a later date.

·         Blackthorn continues to advance its exploration programmes at the Mumbwa Project and recently completed a major infill drilling programme which delivered outstanding high-grade results, including;  243m at 5% Cu from 208m to 451m at hole KITDD_027 at the Kitumba Deposit.

·         Further results are expected in the coming weeks and Blackthorn aims to release an updated Mineral Resource Estimate at the project later this year.

 

 

Additional Reading?

Request Free Copy