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Blackthorn Resources' CEO Mark Mitchell Appointed Managing Director

Blackthorn Resources (ASX: BTR) has appointed its chief executive officer Mark Mitchell as its managing director with effect from today.

Mitchell was appointed the company's chief executive officer on 1 January 2014.

He has held senior operational and general management roles with Perseverance Corporation, MPI Mines/Leviathan Resources, Lihir Gold and more recently Newcrest Mining (ASX: NCM).

Blackthorn expects to begin the Definitive Feasibility Study process during the current quarter for its Kitumba Copper Project in Zambia.

The recently released Optimised Prefeasibility Study had included an increase in IRR to 21% from 12.7%, NPV of US$461 million and all-in cash costs of US$1.89 per pound of copper produced.

Kitumba is currently envisaged as an underground operation producing about 3 million tonnes of ore per annum with an average head grade of 2.03% copper for 11 years.

This has a 31.6Mt LOM production target with 642,000t of contained copper and EBITDA of US$2.48 billion.

The process plant will be capable of treating a range of ore types, new discoveries and toll-processing of third-party material.

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