Sign up Australia
Proactive Investors - Run By Investors For Investors

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 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.

View full FEL profile View Profile

Fe Limited Timeline

Related Articles

A map of new exploration targets at Gapyeong Graphite Project.
August 16 2018
The company is hoping to mine its graphite flake, see it turned into concentrate, then produce spherical graphite to serve up to lithium-ion battery-makers in South Korea.
August 21 2018
The project includes the “smoking gun” deposit Zackly which contains 41,200 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver.
February 07 2018
Zeleznik is one of the four licenses being sole funded under the option agreement between Mundoro and JOGMEC

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use