Exploration Licence 32139-HQ-LEL covers 41.2 km2 and is located in the Kabompo Dome region in the Northwest Province of Zambia.
The licence is underlain by the prospective Lower Roan formation and directly adjacent the Anglo American/Arc Minerals joint venture licence block where Anglo American has the right to earn a 70% interest through expenditure of $88.5 million. Approximately 15 km to the east lies the Company’s Mukai Copper Project and First Quantum Minerals’ Trident Project which is host to the Enterprise Copper and Sentinel Nickel Mines.
Historical exploration on the licence was conducted by Mwinilunga Mines Ltd in the 1960s who conducted soil and stream sediment sampling in the area. The Company has sourced the historical exploration data from the ZCCM-IH archives. This provides a good basis for initial exploration of the licence area.
In June 2024 a soil sampling programme was conducted over the licence. A total of 684 soil samples collected on a 300m by 300m offset grid and infill sample spacing of 150m by 150m in areas of anomalous copper-in-soil. A copper-in-soil anomaly approximately 1,800m long by 600m wide identified with a peak value of 422 ppm copper determined by portable X-ray fluorescence analysis. The anomaly is consistent with historical exploration data and extends to the licence boundary with the Anglo American/Arc Minerals JV.
