Cape Lambert Resources (ASX: CFE) has significantly scaled up expectations for its Kipushi project in the Democratic Republic of Congo, drawing on the precision of MICROMINE software to help validate a $1 billion metal resource estimate.
The copper-cobalt resource, with zinc, has greatly exceeded initial expectations for CFE’s maiden tailings project.
Exploration work has indicated the tailings resource as two million tonnes bigger than expected, with copper-cobalt tailings resource amounts to 2.3 million tonnes at 0.33% cobalt and 1.0% copper.
It also identified large zinc resources, with Cape Lambert’s zinc-cobalt tailings estimate to 2.1 million tonnes at 0.14% cobalt and 1.2% zinc.
In all, the resources amount to an estimated 4.4 million tonnes of treatable tailings, containing metal valued at close to $1 billion.
The company’s market announcement follows topographical surveying and drilling of 47 holes, for a total of 432 metres, undertaken in the second half of 2018. Information from the survey was combined with the drilling information to provide a basis for the volume calculation of the tailings.
Data was imported directly from the laboratory into Micromine software to validate – in three dimensions – any common errors or inconsistencies. Minor corrections were made where GPS measured surface levels were inconsistent with the digital terrain model or where there were typographical errors in hole location made by the field geologists.
The data was also checked for out of range assay values and other possible lab errors.
Results showed a larger tailings resource than expected, with a discrete layer of copper-cobalt tailings in the top half of the total tails, underlain by zinc-rich tails deposited from the nearby Kiko mine.
The announcement has been met with great market interest and follows a suspension of the Company’s securities from official quotation in January 2019, pending these results.
CFE has reported further drilling is anticipated to occur throughout the dry season, until around November 2019. Further data interrogation and validation is expected to be undertaken using Micromine at this time.
To learn more about how Micromine can support your exploration efforts, see the Micromine product page.
To read more about CFE’s Kipushi project and resource estimation, view their Market Update.
