Business

Aussies record positive gold, copper results

NKOLE MULAMBIA, Ndola
AUSTRALIA’S Intrepid Mines Limited has delivered positive results on the gold and copper exploration in Mumbwa district.
Company chief executive officer Scott Lowe said the result gives the company the confidence to go forward for the rest of the season.
“We are pleased to have such encouraging results from the first diamond drill hole drilled and the first hole for the 2015 season. Of particular interest is the gold grade. A follow-up hole is currently being drilled at the target site. These results support our exploration approach and confirm the presence of copper in the system beyond Kitumba,” Mr Lowe said in a statement posted on the company website.
Mr Lowe also said two diamond rigs and a reverse circulation rig are currently on site and drilling high priority targets.
Mr Lowe said a follow up drill hole is currently being drilled to the south of the project, while a budget including 10,000 metres of RC and diamond drilling has been approved for the 2015 drill season.
Sampling and assaying of the drill core and RC chips collected follows a standard site protocol with samples being submitted to the Intertek Genalysis Laboratory preparation facility in Chingola, before being shipped to the Intertek Genalysis Laboratory in Perth, Australia for analysis.
Intrepid Mines Limited is an Australian-based minerals exploration and development company which is listed on the Australian Securities Exchange.
Intrepid Mines’s principal exploration project is in Zambia, where the company is exploring and developing a number of highly promising mineralised zones.
In August 2014, Intrepid Mines and Blackthorn Resources Limited announced their agreement to merge by way of scheme of arrangement.
The scheme, which was subject to the approval of shareholders of both companies, was approved by the Federal Court of Australia on November 26, 2014 and was implemented with effect from December 11, 2014.

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