Ortac Resources (LON:OTC) said it was pleased with the latest trenching samples from its Zambian associate Zamsort.
Samples from Kalaba, a small-scale mining licence in northwest Zambia, showed copper grades of between 1.73% and 2.1% with a cobalt element also present.
Vassilios Carellas, Ortac’s chief executive, said: "These trench assay results from the Kalaba open pit copper cobalt project are indicative of the grade of material that Zamsort is looking to process through their plant.
"I am very pleased with the approach Zamsort has adopted. It is designed to quickly move the company to a cash generating position, secured from the processing of copper and cobalt ore mined from the Kalaba open pit."
The pit at Kabala has been mined intermittently over the last 10 years. Nine trenches were dug in and around the pit in this latest exploration.
The next stage of exploration will be to test the continuity of the saprolite material to the east through augering or diamond drilling below the overlying laterite layer, Ortac said.
Through convertible loans, Ortac can take a 19.35% stake in Zamsort having invested US$1.2mln in the copper explorer so far.