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Blackthorn Resources Shares Up 30.77%

Blackthorn Resources (ASX: BTR) has rallied from yesterday's fall, rising 30.77% today to $0.255 as of 15.39EST, with more than 7.9 million shares trading hands.

This places it a little above yesterday's opening price of $0.25. More than 7.8 million shares were traded on Tuesday with prices reaching a low of $0.19 before closing at $0.195.

Blackthorn had today released an investor presentation reaffirming that zinc production from its Perkoa project in Burkina Faso is expected to begin in the near term.

The company had late last month flagged that it was in the final stages of commissioning the Perkoa Mine process plant and that first zinc concentrate would ship in the third quarter of 2013.

Perkoa has a JORC Probable Ore Reserve of 6.3 million tonnes at 13.9% zinc. Mine life is estimated at 9.5 years.

It added that exploration upside existed for its Mumbwa Project in Zambia with scout drilling on targets not previously tested by BHP Billiton (ASX: BHP) and expansion of resources at the Kitumba deposit there was possible with further drilling.

Mumbwa has a current Inferred Resource of 87Mt at 1.17% copper.

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