BLACKTHORN Resources has welcomed the news that joint venture partner, BHP Billiton, has elected to fund the next stage of exploration at the Mumbwa iron oxide copper gold project in Zambia.
Managing director, Scott Lowe, says the company is pleased with BHP Billiton generous funding for the next phase of the project, which will also include a concept study.
"We are also excited about further exploration work being undertaken to assess the full potential at Mumbwa," Lowe says.
"We look forward to the recommencement of drilling operations following the wet season and reviewing the assay results from this drilling campaign.”
According to BLACKTHORN Resources, a 1.8km long Kitumba Anomaly in 2009 was discovered but a fuller length of 19km to measure a much large Mushingashi anomaly in the same region has yet be drill tested.
The company estimates approximately US$8.4million will be spend on exploration at Mumbwa.
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