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Fe Limited hits high-grade copper in first drill hole, cobalt results due shortly

Results of up to 10 metres at 5.18% copper have been returned from Kasombo 5.
Drilling
Drilling at the company’s Kasombo project within the Katanga Copper Belt

Fe Limited (ASX:FEL) has received high-grade copper results from the first drill hole at the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo.

The hole was drilled at Kasombo 5 prospect and intersected two zones of mineralisation.

Best result was 10 metres at 5.18% copper within a broader intersection of 23 metres at 3.18% from 54 metres in the lower zone.

In the upper zone, an intersection of 5 metres at 1.98% copper from 25 metres was returned.

READ: Fe Limited set for near-term copper and cobalt assays

Tony Sage, chairman, said: “I am pleased to see that the early results of the preliminary drill program support our high hopes for this project.

“We are building the justification to proceed with a planned 5,500-metre drill-out of Kasombo 5 and Kasombo 7.”

Preliminary reverse circulation drilling was completed at Kasombo 5 and Kasombo 7 in late December 2017 and early January 2018.

Testing concepts observed in mapping

Drilling was designed to test two styles mineralisation observed in a mapping program.

The first style conforms to that typical of deposits of the Katanga Copper Belt.

A second showed a cross-cutting breccia style, which provides the potential to significantly increase deposit size.

Holes target copper mineralisation

At Kasombo 5 two holes were completed for 149 metres targeting copper mineralisation mapped in the pit wall of an open cut with assays for the second hole expected shortly.

There were also two abandoned holes for 114 metres.

Cobalt assays are expected

At Kasombo 7 four reverse circulation holes were completed for 190 metres targeting cobalt mineralisation with assay results due shortly.

The mineralisation was observed in bedding cross-cutting breccias and in conformable bedding layers exposed by small-scale artisanal workings.

Evaluation of the drilling program will conclude after assays are received from three further batches.

Results by end of February

ALS is committed to finalising these assays by the end of February.

The Kasombo project comprises three mineralised areas of circa 600 hectares.

Kasombo 5, 6 and 7 are within two granted mining licences circa 25 km from the DRC’s second largest city, Lubumbashi.

READ: Fe appoints experienced Bouchart as general manager of Kasombo copper-cobalt project

Fe Limited has appointed Philippe Bouchart as general manager of the Kasombo project.

He has held executive positions in the mining industry for 26 years and brings experience in exploration, development and production, much of it across copper and cobalt.

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