The Zambian Ministry of Mines has awarded African Eagle Resources plc – a mineral resources company traded on the London AIM, and focused on copper and gold in eastern and central Africa – the Mokambo South prospecting licence in Zambia.
African Eagle operates in Zambia, Tanzania and Mozambique, and its principal operations are the Mkushi and Ndola copper projects in Zambia and the Miyabi gold operation in Tanzania. It has also discovered a large iron oxide copper gold (IOCG) system at Eagle Eye in Zambia, and holds a well-balanced portfolio of other promising early-stage African projects.
The Mokambo licence is situated in the Zambian Copperbelt, about 90 km north-east of Ndola, by road, and forms a narrow strip covering 15 square kilometres along the border between Zambia and the Democratic Republic of Congo (DRC). Its proximity to the company’s exploration activities at Ndola means it can easily conduct work in the area.
Much of the licence is underlain by the highly prospective Lower Roan and Mine Series geological sequences, which host most of the world-class copper deposits of Zambia and neighbouring DRC.
Since 1950, 22 diamond drill holes have been drilled within the Mokambo South licence area, of which 11 intersected significant copper mineralisation to depths of 1 400m over a strike length of 1km. Results reported from these drill holes showed the average grade of mineralisation as 2.4% copper, and the average thickness as about 4.6m, indicating a deposit of around 6 million tonnes with some 140 000 tonnes of contained metal.
African Eagle is near to completing a thorough review of all existing data – including logging of historical Mokambo core stored at nearby Kalushi – and will then undertake drilling to evaluate the Mokambo South zone. This work will also assess the potential for copper oxide mineralisation not previously tested by drilling.
The adjacent Mokambo North.licence was recently granted to UK based Copperbelt Minerals Ltd. which is negotiating with African Eagle to explore both licences jointly The Mokambo North licence has been estimated to contain a deposit of at least 3.85 Mt at 1.69% copper.