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Cape Lambert Resources leveraged to high-grade copper hits at DRC project

Fe Limited has received further promising drill results from the Kasombo Copper-Cobalt Project.
drill rig at site
Best result of 24 metres at 3.5% copper from 37 metres

Cape Lambert Resources Limited (ASX:CFE) is leveraged to further high-grade copper results from Fe Limited’s (ASX:FEL) Kasombo Copper-Cobalt Project in the Democratic Republic of Congo (DRC).

READ: Fe Limited hits high-grade copper at DRC project supported by shallow cobalt

Cape Lamberts holds 145,848,635 shares in Fe Limited representing 39.63% of the total share capital.

At the Kasombo 5 high-grade copper target, final assays from a reverse circulation (RC) drill program completed last year returned a best result of 24 metres at 3.5% copper from 37 metres.

The extensive strong widths and grades of copper are supported by shallow cobalt mineralisation of up to 10 metres at 0.22% cobalt from 11 metres.

Shallow cobalt intersections

At Kasombo 7 cobalt-rich target, the RC drilling has returned shallow intersections of cobalt from depths of 8 metres and below.

The drilling targeted down-dip and along strike extensions of the high-grade cobalt mineralisation sampled from breccia exposed by artisanal workings.

The best results were 11 metres at 0.10% cobalt from 8 metres and 3 metres at 0.13% cobalt from 10 metres.

READ: Cape Lambert Resources seeks $2 million in placement funds for cobalt-copper exploration

Cape Lambert is raising up to $2 million in a share placement to sophisticated and professional investors at $0.055 each.

The majority of funds raised will be used for exploration at the Kipushi Cobalt-Copper Tailings Project in the Democratic Republic of Congo.

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