Maiden Inferred Resource of 3800 Tonnes Copper and 1700 Tonnes Cobalt for Luisha South Stockpile, Luisha South Project, Katanga Provence, Democratic Republic of Congo.
VANCOUVER, June 13, 2011 /PRNewswire/ – African Metals Corporation (“AFR”) is
pleased to provide initial figures for resources estimated by Geosure
Exploration & Mining Solutions Pty Ltd, independent geological
consultants, for its Luisha South Stockpile in the Democratic Republic
of the Congo.
The resource as estimated includes:
An Inferred 370,000 tonnes at 1.0% Cu for 3,800 tonnes of contained
copper metal and 0.5% Co for 1,700 tonnes of contained cobalt metal. (Note: tonnage figures rounded to the nearest 1,000).
Resource modelling was also completed at various cut off grades as
presented in Table One below and includes a higher grade Inferred
resource of some 130,000 tonnes at 2% Cu and 0.4% Co for 2,700 tonnes
of contained copper metal and 300 tonnes of contained cobalt metal.
________________________________________________________________ | Cut Off |Tonnes |Grade Copper|Grade Cobalt|Contained|Contained| |(Copper %)|(000's)| (%) | (%) | Copper | Cobalt | | | | | |(tonnes) |(tonnes) | |__________|_______|____________|____________|_________|_________| | 0.25 | 370 | 1.0 | 0.5 | 3,800 | 1,700 | |__________|_______|____________|____________|_________|_________| | 0.75 | 240 | 1.4 | 0.5 | 3,400 | 1,100 | |__________|_______|____________|____________|_________|_________| | 1.50 | 130 | 2.0 | 0.4 | 2,700 | 500 | |__________|_______|____________|____________|_________|_________| | 2.00 | 60 | 2.8 | 0.6 | 1,600 | 300 | |__________|_______|____________|____________|_________|_________|
Table 1: Resource Modelling results based on various copper cut-off
The resources stated above are acid soluble and have been targeted by
AFR to be brought into production through conventional
The Company is also pleased to report the successful renewal of the
Small Scale Mining Permit for the Luisha Project until 21(st) March 2016. The permit renewal will enable AFR to pursue its goal of
bringing the Luisha Project into production.
Nigel Ferguson, CEO and President of African Metals Corp, commented:
“The Company is very pleased with this maiden resource estimate, which
is expected to continue to grow in the coming months through an updated
hard rock resource estimate based on recently completed diamond
drilling program. Management expects further increases in the total
contained metal content estimated for the Luisha South Project.
Concurrently the Company will continue surface drilling to seek
extensional mineralisation outside the current resource area.” Nigel
Ferguson also commented “Recent successful treatment of the oxide
stockpile material will allow the Company to further investigate the
possibility of placing the stockpile into production before the end of
the Calendar year. It is an exciting time in the staged development of
the company and the Luisha Project.”
MINERAL RESOURCE MODEL
Magnum Drilling Sprl completed a 383 meter reverse circulation (RC)
drilling program at the Luisha South Project in October 2010. Forty two
vertical holes (SPRC001 to SPRC042) were drilled at approximately 40m
centers on the top of the Stockpile, located adjacent to the Luisa
South open pit. Holes were terminated after penetrating 2m into the
soil beneath the Stockpile.
Drill samples were collected from all holes at one meter intervals, and
riffle split to produce approximately one kilogram sub-samples for
analysis. A total of 418 samples including QC samples were dispatched
to ALS Chemex Minerals Laboratory in Johannesburg, South Africa for
sample processing and analysis. The samples were analyzed by
multi-element ICP analysis for Cu and Co content after a 4 acid digest
An independent resource consultant, Geosure Exploration & Mining
Solutions Pty Ltd, visited the project between the 14th and 16th May as
part of the due diligence requirements for resource estimation for the
Luisha South Stockpile. All data was made available to the consultant
in order for the resource to be estimated.
Mineral Resource Classification
The Luisha South Mineral Resource Estimate has been prepared by Mr.
Michael Montgomery, Director of Geosure Exploration & Mining Solutions
Pty Ltd. Mr. Montgomery has sufficient experience which is relevant to
the style of mineralization under consideration and to the activity
which he is undertaking to qualify as a Competent Person as defined the
by NI 43-101 standards. The resource is currently being reviewed by AFR
personnel and will be submitted to the TSX Venture Exchange in order to
meet their pre-filing guidelines for resource disclosures. A NI 43-101
compliant technical report documenting the resource estimate will be
filed on SEDAR within 45 days of the date of this news release.
Geosure have classified the Mineral Resource into the Inferred category.
Bulk Density Measurements
ALS Chemex Laboratory in Johannesburg, South Africa as well as
undertaking all analytical work for the RC drill samples also provided
all bulk density data based on work completed on a suite of 332 samples
taken from RC drill chips. A bulk density of 2.84 g/cm(3) was utilized for the resource model, representing a simple average of
these ALS density results.
Geosure Pty Ltd of Brisbane, Australia was contracted to undertake the
resource estimations. The Luisha South deposit was modelled using
Surpac 6.1.1 software. A digital terrain model was supplied to Geosure
for topography. Domains as such were not generated for the stockpile,
given the heterogeneous nature of a stockpile. Geostatistical analysis
on the sample populations showed no apparent mixed populations and
there are no outliers of significance. A 3 dimensional block model was
constructed using Surpac Mining Software. The block model was
constructed with a parent cell size of 25mN by 25mE and 5mRL. These
cells were further sub-blocked to 6.25mN by 6.25mE and 1.25mRL. All
relevant attributes were coded into the block model. The block model
was validated in detail using Surpac. The following validation checks
-- DTM and block model volume comparisons. -- Visual validation of block model attributes in plan, section and 3 dimensions. -- Individual block audits.
No errors were detected as part of the validation process and as a
result the block model is considered robust. Grade estimation was
performed using inverse distance methodologies in Surpac mining
software. Grade estimates were constrained to within the stockpile DTM.
Grade estimation parameters were derived from several trials and
included comparing block estimates to mean composite drill grade. The
comparison of the composite mean grade and the average block model
grades showed a good reproduction. Estimation data was recorded for
each estimation pass and recorded as part of the block model.
Geological domains were considered as hard boundaries.
Geosure have classified the Mineral Resource into the Inferred category.
Nigel Ferguson, AusIMM, President and CEO of the Company and a qualified
person under National Instrument 43-101, has verified data disclosed in
ON BEHALF OF THE BOARD OF DIRECTORS OF AFRICAN METALS CORPORATION
President & CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEW
This News Release contains forward-looking statements. Forward-looking
statements are statements which relate to future events. These
statements are only predictions and involve known and unknown risks,
uncertainties and other factors that may cause our or our industry’s
actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by these
forward-looking statements. While these forward-looking statements,
and any assumptions upon which they are based, are made in good faith
and reflect our current judgment regarding the direction of our
industry, actual results will almost always vary, sometimes materially,
from any estimates, predictions, projections, assumptions or other
future performance suggested herein. Except as required by applicable
law, the Company does not intend to update any of the forward-looking
statements to conform these statements to actual results.
About African Metals Corporation.
African Metals Corporation [TSXV "AFR"] is a Canadian listed company
focused on the discovery and development of Copper and Cobalt deposits
in the highly mineralized Katanga Copper Belt of the world renowned
Africa Copper Belt in the Democratic Republic of Congo (“DRC”).
AFR purchased all the assets of Chevalier Resources Inc. in March 2010
including a 57% interest in the Luisha South Project contained within
licence PEPM 4881, Katanga Provence, Democratic Republic of the Congo
(“DRC”) through subsidiaries incorporated in the DRC. In July AFR
negotiated a further 18% interest in the project with the option to
increase the equity interest to 90% based on results. The project is
located 75 kilometres northwest of Lubumbashi, the capital of Katanga
Province and consists of approximately 16.2kmÃ‚².
The Luisha South Project includes a small historical open pit mine and
associated stockpile and is underlain by Roan Group sediments which
host major Cu-Co deposits in the DRC. The Luishia South orebody was
explored between 1923 and 1928 and an oxide deposit with an estimated
pre-production tonnage of approximately 350,000 tonnes at 8.6% Cu was
delineated. The Luisha Project also covers some three kilometres of the
Roan Group strike length which is favorable for Cu-Co mineralization.
AFR is currently conducting metallurgical tests on stockpile Reverse
Circulation drill samples to determine characteristics and gravity
separation qualities, with the aim of commencing production of an oxide
concentrate by the end of Q3 2011.
SOURCE African Metals Corporation