Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Minerals Corporation Starts Study Into Copper Potential Of DRC Tenements 0 comments
    Sep 9, 2013 12:30 AM

    Minerals Corporation (ASX: MSC) has started a first phase desktop study of existing geophysical data for all eight of its joint venture tenements in the Katanga Province, Democratic Republic of Congo, to generate a suite of prioritised copper targets.

    Target generation and preliminary validation will complement the exploration work recently completed at the Luishia Prospect.

    These include the Luishia prospect that is adjacent to Tiger Resources' Kipoi project, which hosts five known copper deposits with a current Resource of 49.6 million tonnes at 1.7% copper.

    Kipoi produced 11,116 tonnes of copper in the June quarter 2013 with Tiger noting it was producing copper in concentrate above guidance.

    "We are extremely excited about the work currently underway by TMC (The Mineral Corporation of South Africa)," managing director Murray Ward said.

    "MSC anticipate that the prioritised targets which will be generated by this comprehensive review, using the very latest geophysical techniques, will be followed-up in the final quarter of 2013 with a phased approach of 'ground truthing' and reconnaissance mapping, progressing to trenching and drilling."

    TMC - the company's technical consultants - is reprocessing and reinterpreting the existing high-quality airborne magnetic and radiometric geophysical information compiled by joint venture partner Rubamin FZC.

    Luishia

    The company added that it expects to receive trenching results from Luishia in late September and drill assays in early October.

    Results have so far indicated a spatial relationship between structure and mineralisation with drilling intersecting copper mineralisation in the first three diamond holes.

    Trenching has identified 700 metres of strike in broad zones of mineralisation remaining open to the northwest.

    TMC had previously identified three priority areas within Luishia that are highly prospective for copper mineralisation from historical geochemical sampling, artisanal activity and limited drilling.

    Copper mineralisation within the southern central portion appears to occur near the "Petit Conglomerat" diamictite / "Calcaire Rose" dolomite contact with information from mapping observations and historical diamond drilling indicates that an approximately 5 metre wide zone of copper mineralisation can be traced along a strike length of about 1,500 metres.

    Kipita Project

    The company is also preparing for upcoming fieldwork at its Kipita prospect about 65 kilometres north of Luishia, where historical grab samples have yielded up to 9% copper at Kipita and three primary target areas have been identified.

    It plans to undertake trenching and diamond drilling during the upcoming field season. Trenches will be excavated cross the strike of prospective stratigraphy accompanied by mapping and sampling. Diamond drill-holes will target the extensions of mineralisation.

    In the central region, grab and rock chip sampling has yielded anomalous copper results, including one sample of 9% copper when tested with a hand-held Niton XRF unit. Extensive artisanal mining activities are found in this area.

    Prior exploration also identified copper mineralisation extending over a strike length of about 600 metres in the northwestern region of the Kipita Project.

    Extensive 'dead' zones in the vegetation cover (geo-botanical indicators) may also suggest the presence of elevated copper values.

    In the southeast, broad zones of anomalous copper mineralisation are indicated by historical soil geochemical data.

    Analysis

    The desktop study will allow the company to focus on the most prospective targets at its Katanga JV tenements.

    This will be aided by results from the Luishia trenching and drilling.

    There is good newsflow and catalysts for Minerals Corporation with targets generated using the latest geophysical techniques and leading to in the final quarter of 2013 reconnaissance mapping, progressing to trenching and drilling.

    With samples from both the trenching and drilling campaigns sent to the labs in Johannesburg the results will be eagerly awaited trenching in late September and results of the drill assays early October).

    Being adjacent to Tiger Resources' producing Kipoi project that hosts five known copper deposits with a current Resource of 49.6 million tonnes at 1.7% copper is also a pointer. While Minerals Corporation is under the radar to now, this could change - very rapidly - offering opportunity to investors.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.