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Nzuri Copper hits high-grade copper and cobalt near flagship DRC project

Best intersection to date is returned from the Monwezi Target Area.
Nzuri trenching
Trenches being excavated at Monwezi 2 ahead of diamond drilling

Nzuri Copper Ltd (ASX:NZC) has received high-grade copper and cobalt hits from drilling at the Fold & Thrust Belt Joint Venture in the Democratic Republic of Congo (DRC).

Results from Monwezi 2 target confirm the near-term potential to define additional resources within economic haulage distance from Nzuri’s flagship Kalongwe Copper-Cobalt Project.

The shallow copper enrichment also indicates open pit mining potential.

20.2 metres grading 1.85% copper

Recent drilling has returned the best intersection returned to date from this area with a thick zone of 20.2 metres grading 1.85% copper from 47 metres.

This included a high-grade zone of 7.5 metres at 2.39% copper with best 1-metre samples of up to 7.7% copper also returned.

High-grade cobalt intersections

Nzuri also received new high-grade cobalt intersections from the first diamond drill hole at the Monwezi 7 target.

These included 3 metres at 0.11% cobalt from 34 metres, 2 metres at 0.23% from 62 metres, 8 metres at 0.2% from 71 metres and 8.6 metres at 0.17% from 103 metres.

READ: Nzuri Copper bags funds from US$8 billion Chinese cobalt player

The Monwezi Target Area is between 2 and 5 kilometres directly along strike from Kalongwe, which is in the Western Katangan Copperbelt.

The Fold & Thrust Belt Joint Venture is near Nzuri’s Kalongwe project.

Drilling and trenching have confirmed that the mineralisation at Monwezi 2 starts from close to surface and extends over a strike length of circa 300 metres to a vertical depth of at least 150 metres.

Systematic drilling planned

A systematic drilling program is planned at Monwezi 2 as part of Nzuri’s 2018 exploration program.

This will initially include four step-out holes along strike leading to a resource drill-out and mineral resource estimation.

A series of trenches are being excavated to provide geological control ahead of the diamond drilling.

Joint venture with Ivanhoe

Nzuri and Ivanhoe Mines Ltd (TSX:IVN) signed a joint venture for the Fold & Thrust Belt project in April 2015 and Nzuri has the ability to acquire a 98% interest.

The project lies to the south of Ivanhoe’s world-class DRC projects. 

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