AMN - DRC: Drilling planned at Kasombo

Cape Lambert Resources advises that Fe Limited has commenced exploration activities at the Kasombo Cobalt Project in the Democratic Republic of the Congo (DRC). Geological mapping work is being carried out and a drilling tender process is under way for a proposed reverse circulation (RC) program to test known areas of mineralisation and confirm historical results.

SRK Consulting have been engaged to complete field activities and to undertake a detailed review of historical exploration work completed by State-owned mining company La Générale des Carrières et des Mines.

Kasombo is in a highly mineralised area, and is just 25km from Lubumbashi in the Katanga Copper Belt, the world’s largest cobalt producing region. The project has access to the nearby Kipushi Processing Plant.

Geological mapping has been completed at Kasombo 7 and are under way at Kasombo 6, with work to also focus on Kasombo 5, which has been the subject of previous drilling programs and historical resource estimation.

The drilling tender process is under way for commencement of Phase 1 RC drilling to test known areas of mineralisation and confirm historical results.

Highlighting the potential, handheld XRF sampling of artisanal cobalt workings and exposed cobalt mineralisation at Kasombo 7 confirms the high-grade nature of the mineralisation with grades up to 38.2% cobalt.

In July, Fe Limited entered a binding terms sheet with Cape Lambert whereby it will assign to Fe 100% of the rights and obligations it has in the Kasombo Copper-Cobalt Project.

Cape Lambert’s rights to the project were established in a 50/50 joint venture agreement with Congolese entity Paragon Mining SARL.

As outlined in the term sheet, Fe is required to conduct exploration at the project during the settlement period of the transaction.

www.capelam.com.au