Description
Blackthorn Resources (ASX: BTR) is an Australian-based resources company with a diverse portfolio of African assets, including zinc, gold, copper, Nickel and Platinum Group Metals.
Blackthorn Resources endeavours to create long-term wealth for its shareholders and stakeholders through the successful development of its four key assets which include: the Perkoa Zinc project in Burkina Faso; the Burkina Faso Gold exploration project; the Mumbwa iron oxide copper-gold Joint Venture with BHP Billiton and the Mokopane nickel/platinum Project.
Share Price
In-depth Blackthorn Resources Proactive Investors Articles
- 27/01/2010 Blackthorn Resources announces BHP Billiton to fund next stage of Mumbwa Project
- 12/01/2010 Blackthorn Resources pens agreement with Glencore International for Perkoa Zinc Project JV
- 27/11/2009 Blackthorn Resources outlines plans for 2010
- 24/11/2009 Blackthorn Resources' Scott Lowe talks about zinc, copper and a JV with BHP Billiton
- 04/11/2009 Blackthorn Resources and BHP Billiton announce copper gold drilling results at Mumbwa JV Project
Recent Blackthorn Resources news
- 01/03/2010 Blackthorn Resources reports Perkoa Zinc Project JV due diligence on schedule
- 18/02/2010 Blackthorn Resources and BHP Billiton renew Mumbwa prospecting licence
- 16/12/2009 Blackthorn Resources releases phase 3 drilling results
- 17/11/2009 Blackthorn Resources reveals resource estimate details for Mumbwa JV project
- 05/11/2009 Blackthorn Resources CEO picks up more shares
Presentations & Company Media
Related Research & Media
No Documents available.
Company Statement:
Blackthorn Resources is an Australian based resource company with a diverse portfolio of African assets including zinc, gold, copper, nickel and Platinum Group Metals (PGM's).
In Burkina Faso, the key project is the partially constructed Perkoa zinc mine which is currently on care and maintenance. The company owns 90% of the high-grade world class emerging zinc mine. Perkoa has a JORC code compliant ore reserve of 6.3 million tonnes at a mine head grade of 13.9% zinc, equating to 804,616 tonnes of contained zinc metal. The processing plant was designed to allow 720,000 tonnes per annum throughput to produce a clean concentrate grading 53% Zinc.
Also in Burkina Faso the Company holds 7 exploration properties covering 1134 sq km which are prospective for gold and base metals (Cu, Pb and Zn). The northern tenements cover >500 sq km and comprise 4 exploration permits which are adjacent and surrounding the Perkoa zinc project.
In Zambia the company holds a 60% joint venture interest with BHP Billiton (40%) to explore the Mumbwa copper-gold project. The area is prospective for iron-oxide copper-gold deposits similar to the world class examples of Olympic Dam (South Australia) and Ernest Henry (Queensland). Blackthorn Resources reported an initial inferred mineral resource for the Kituma deposit estimated at 345Mt at 0.47% Cu, 0.06g/t Au, 1.38 g/t Ag and 45ppm U (using a 0.2% Cu cut-off). BHP Billiton is currently funding and managing the Phase 3B programme which completed some broad spaced holes on the Kitumba Anomaly to delineate the mineralisation, and has commenced drill testing the Mushingashi Anomaly. The Mushingashi Anomaly is described as a gravity/density anomaly which has a 19km strike length.
In South Africa, Blackthorn Resources owns 74% of the Mokopane Nickel-Platinum Group Metals project on the northern limb of the Bushveld Igneous Complex, which accounts for some 80% of the platinum resources globally and 67% of global platinum production. Mokopane has a JORC code compliant inferred resource of 39.7 million tonnes grading 0.15% nickel, 0.09% copper, 0.22g/t platinum and 0.33g/t palladium.
African Strategy
Blackthorn Resources African strategy is focused on:
* Developing the Perkoa Zinc project.
* Acquiring base and precious metal projects in West Africa and the Zambian copper belt.
* Targeting primarily advanced exploration/pre-production projects.
* Seeking to apply Australian mining experience (technical and financial) to projects
identified by Blackthorn.
Key points
* Owns 90% (10% free carried by Burkina Faso government) of the high-grade, world class
Perkoa zinc mine in Burkina Faso.
* 100% owned gold exploration properties in Burkina Faso covering 1,134 sq km.
* Joint venture 60% with BHP Billiton (40%) in the Mumbwa copper-gold project in Zambia.
* Owns 74% (26% held by BEE partner) of the Mokopane Ni-PGE project in South Africa.
* Listed on the Australian Stock Exchange (ASX).
Current Operations:
PERKOA - ZINC MINE
* High-grade Volcanogenic Massive Sulphide (VMS) zinc deposit in Burkina Faso;
* Ore reserve of 6.3 million tonnes at a mine head grade of 13.9% zinc;
* Proposed plant throughput of 720,000 tpa to produce 170,000 dmt per annum clean zinc concentrate
with 53% grade over a 9.5 year mine life;
* Exploitation Licence covering all mining activities granted in March 2007;
* DRA Mineral projects appointed EPC manager;
* Optimise mine design to enhance mining efficiencies, reduce overall costs and expedite
mine schedule to access first ore;
* Box cut construction completed and decline has progressed approximatley ~83metres;
* Advanced negotiation with potential offtake partners - Xstrata's Austuriana de zinc and Boliden Commercial. (Read More)
MUMBWA - GOLD/COPPER PROJECT
* Interpretation of BHPB’s Falcon™ data with 3D inversions and the application of BHPB’s
Solid Earth™ proprietary technology identified anomalous zones over the Kitumba Hills,
Mushingashi and Mutoya prospects;
* Initial 8 hole cored drilling program totalling 4,105.17m was completed in February 2007
resulted in discovery of mineralisation on a single hole;
* Hole, S36-001, was drilled to a total depth of 697.4m, and intersected mineralisation
yielding 655m at 0.46% copper, including:
o 317m @ 0.79% Cu,
o 18m @ 0.20g/t Au,
o 42m @ 2.01% Cu, including
o 4m @ 5.56% Cu.
o Soil geochemical survey over drilled anomalies displayed elevated gold response over
S36; (Read More)
* JV partners BHP Billiton elected to claw back interest in the Project and is funding and managing the Phase 3B drilling programme during 2009/10.
* JORC code compliant Inferred Mineral Resource of 345 million tonnes at 0.47% copper, 0.06g/t gold, 1.38g/t silver and 44ppm Uranium (using a 2% Cu cut-off).
MOKOPANE - NICKEL/PLATINUM PROJECT
* Nickel-Platinum group Metals project located on the Northern limb of the Bushveld Complex;
* Granted new order rights over 3,000 hectares for exploration purposes;
* Appointment of Black Economic Empowerment (BEE) party;
* JORC code compliant Inferred Mineral Resource of 39.7 million tonnes at 0.15% nickel, 0.09%
copper, 0.22 g/t platinum and 0.33g/t palladium from Southwest Anomaly;
* Near surface mineralisation is amenable to low cost, large scale, open pit mining with low
strip ratio;
* Significant potential to increase current resource by additional drilling from all 5 prospects
within the licence area;
* Considering a percussion drilling program to further define the resource status from all 5
prospects. (Read More)
Management
The Board of Directors
William (Bill) Cash - Non Executive Chairman
Scott Lowe - Managing Director
Louis Mnguni - Non Executive Director
Nicole (Nicki) Bowman - Non Executive Director
Chris Brown - CFO / Company Secretary
For more information on Blackthorn's Directors click here
For senior management information click here
Major Shareholders
Substantial Shareholders are:
-
North Sound - 9.19%
-
JP Morgan Chase & Co - 7.05%
-
F. Brewer - 6.76%
-
S. Jones - 6.27%
Contact Information
Blackthorn Resources Head Office
Level 2, Suite 201
80 William Street
Sydney NSW 2011
Australia
Telephone +61 2 9357 9000
Facsimile +61 2 9332 1336
info@blackthornresources.com.au
Burkina Faso Office
536, rue Guillaume Ouedraogo
Ouagadougou 01 BP 1463
Burkina Faso
Telephone: +226 50 31 66 35
Facsimile: +226 50 31 70 97
info@blackthornresources.com.au
Corporate Information
Share Registrar
COMPUTERSHARE INVESTOR SERVICES
Level 3, 60 Carrington Street
Sydney NSW 2000
GPO Box 2975 Melbourne VIC 3001
Telephone: 1300 850 505 (within Australia)
Telephone: +61 3 9415 4000 (from overseas)
Facsimile: +61 3 9473 2500
Website: www.computershare.com.au
Option Registrar
COMPUTERSHARE TRUST COMPANY OF CANADA
100 University Avenue
9th floor, North Tower
Toronto, Ontario M5J 2Y1
Canada,
Telephone: 0011 1 514 982 7555
Website: www.computershare.com
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