Exploration - DRC
The DRC has been Anvil’s key focus for exploration which has resulted in the discovery and definition of significant copper resources in what is the world renowned Congo Copperbelt. Past drilling programs have succeeded in discovering high copper grade oxide and sulphide deposits at Kinsevere and interesting copper-cobalt drilling results on the Mutoshi property.
With the Group's focus on the completion of Kinsevere Stage II and achieving a low-cost operation of the Stage I Heavy Media Separation ("HMS") plant at Kinsevere, there has not been available capacity to carry out exploration. During 2011, the Group plans to restart exploration, targeting the following areas:
- Identification of opportunities in close proximity to Kinsevere, which is currently the immediate priority of the Manager of Exploration and an expatriate exploration geologist, both of whom were recruited during the fourth quarter of 2010.
- Further drilling at Kinsevere in order to delineate an expanded sulphide resource. Results from previous drilling at Kinsevere identified the following sulphide resource:
- A measured and Indicated Resource of 3.76 million tonnes with a total copper grade of 3.70% for approximately 139,000 tonnes of contained copper; and
- An Inferred sulphide resource of 12.6 million tonnes with a total copper grade of 3.54% for approximately 447,000 tonnes of contained copper.
- Prior to being placed on care and maintenance, a 55,000 metre drilling program was completed at Mutoshi and the Group plans to start an in-fill drilling program later in 2011, the objective of which is to define sufficient near-surface oxide copper and cobalt mineralization to enable evaluation of development options.
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