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Drilling Results Received from Kasombo Copper Project in DRC
Highlights:
- Final assays received from RC drilling program confirm widespread, extensive high grade copper mineralisation at Kasombo 5 including KSB003b: 24 m @ 3.50% Cu from 37 m
- Additional extensive intercepts of shallow cobalt mineralisation reported at both Kasombo 5 and 7 including KSB003: 10 m @ 0.22% Co from 11 m
- Further step out and extensional drilling now planned at Kasombo 5 with drilling tenders already underway
- Further testing also targeted at Kasombo 7 to better determine the size and extension of the identified cobalt mineralisation
Fe Limited (Company) (ASX: FEL) is pleased to advise that it has received the results of all assay sampled from its preliminary reverse circulation (RC) drill program at the Kasombo Copper-Cobalt Project (Kasombo Project) located in the Democratic Republic of Congo.
Assays from Kasombo 5 showed wide intersections of high grade copper mineralization, with copper and cobalt intercepts from the drilling at Kasombo 5:
- KSB001: 23 m @ 3.18% Cu from 54 m
- KSB003b: 24 m @ 3.50% Cu from 37 m
- KSB003b: 12 m @ 0.19% Co from 36 m
- KSB003: 10 m @ 0.22% Co from 11 m
Kasombo 5 is a high-grade copper target hosted in the highly prospective Lower Roan Group rocks of the Katangan Copperbelt. Drilling targeted down-dip extensions to mineralised sequences exposed in a shallow open-cut.
RC drilling at Kasombo 7 returned shallow intercepts of cobalt mineralisation from depths of 8m and over intercepts of up to 11m and was targeted at down-dip and along strike extensions of the high grade cobalt mineralisation sampled from breccia exposed by artisanal workings (refer sample results of up to 6.99% Co reported in ASX announcement dated 12 December 2017).
The cobalt intercepts from drilling at Kasombo 7:
- KSB004: 11 m @ 0.10% Co from 8 m
- KSB006: 3 m @ 0.13% Co from 10 m
Commenting on the results of exploration, Chairman Tony Sage said; “the final assay results from Kasombo 5 demonstrate extensive high grade copper mineralisation with accompanying shallow cobalt mineralisation. We are very excited by this and are progressing our plans to complete a step out drilling program, with tenders for drilling already underway. The Kasombo 7 results demonstrate that more work is needed there to better understand the cobalt mineralisation, and whilst we are encouraged by the extensive workings by artisanal miners, which have exposed cobalt mineralisation, additional channel sampling and trenching work will now proceed to give us that broader understanding.”
The Kasombo Project comprises three mineralized areas of approximately 600 hectares, Kasombo 5, 6 and 7, located within two granted mining licenses PE 481 and PE 4886, which are held by La Generale Des Carrieres Et Des Mines S.A. (Gecamines). In March 2017, Paragon Mining SARL (Paragon) executed a contract with Gecamines for the undertaking of exploration and research work at the Kasombo Project. In November 2017, FEL was assigned the rights to explore and exploit the Kasombo Project from Cape Lambert Resources Limited (Cape Lambert), which in turn acquired its rights to the Kasombo Project via a 50/50 joint venture with Paragon in the newly established Soludo Lambert Mining SAS (full details of the assignment are described in the Notice of the Annual General Meeting, refer ASX announcement dated 4 October 2017).
Yours faithfully
FE LIMITED
Tony Sage
Non-Executive Chairman
Figure 1: Location of Kasombo Project and nearby Kipushi Processing Plant
Figure 2: Kasombo Location Map
Figure 3; Kasombo 5 plan-view of drilling
Figure 4; Cross-section KSB003b
Competent Person Statement
The information in this report is compiled and collected by Mr Jess Oram, Executive Director of Cauldron Energy (an affiliate company of FE Limited) who is a Member of the Australasian Institute of Geoscientists. Oram has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration, Results, Mineral Resource and Ore Reserves (JORC Code 2012). Oram consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
Australian Securities Exchange Code: FEL
Ordinary Shares:
368,065,463
Unlisted Options:
2,812,500
Board of Directors:
Tony Sage
Non-Executive Chairman
Kenneth Keogh
Non-Executive Director
Nicholas Sage
Non-Executive Director
Contact:
www.felimited.com.au
32 Harrogate St, West Leederville
Western Australia 6007 Australia
Telephone +61 8 6181 9793
Email info@felimited.com.au
Fe Limited is an Australian domiciled mineral resources exploration and development company.
Fe Limited
ABN: 31 112 731 638
Table 1; Location of Drilling
Project | Hole_Id | East | North | RL | DipColl | AzimColl | EOH | Details |
Kas5 | KSB001 | 532880 | 8710343 | 1290 | -60 | 240 | 79 | Hole extended to intersect RAT |
Kas5 | KSB002 | 532905 | 8710313 | 1288 | -60 | 241 | 63 | Hole abandoned at 63m - collar blow out |
Kas5 | KSB003 | 533023 | 8710134 | 1284 | -57 | 240 | 51 | Hole abandoned at 51 m - workings |
Kas5 | KSB003b | 532924 | 8710222 | 1286 | -90 | 000 | 70 | redrill of KSB003 |
Kas7 | KSB005 | 533896 | 8710176 | 1288 | -60 | 125 | 42 |
|
Kas7 | KSB004 | 533977 | 8710283 | 1292 | -59 | 124 | 59 |
|
Kas7 | KSB006 | 534078 | 8710197 | 1257 | -60 | 335 | 59 |
|
Kas7 | KSB007 | 534017 | 8710181 | 1255 | -80 | 340 | 30 |
|
KEY:
Datum: wgs84, zone 35 south
DipColl: Dip of hole at collar
AzimColl: Azimuth of hole at collar
EOH: end of hole depth
Table 2; Kasombo Project – Copper - Summary of assay for entire drilling
Prospect | Hole_Id | From | To | Length [m] | Grade [ppm] | Description |
Kas5 | KSB001 | 25.00 | 35.00 | 10.00 | 13980 | KSB001: 10 m @ 1.40% Cu from 25 m |
Kas5 | KSB001 | 42.00 | 45.00 | 3.00 | 11240 | KSB001: 3 m @ 1.12% Cu from 42 m |
Kas5 | KSB001 | 54.00 | 77.00 | 23.00 | 31787 | KSB001: 23 m @ 3.18% Cu from 54 m |
Kas5 | KSB002 |
|
|
|
| abandoned above target |
Kas5 | KSB003 |
|
|
|
| abandoned above target |
Kas5 | KSB003b | 37.00 | 61.00 | 24.00 | 34971 | KSB003b: 24 m @ 3.50% Cu from 37 m |
Kas5 | KSB003b | 64.00 | 69.00 | 5.00 | 31110 | KSB003b: 5 m @ 3.11% Cu from 64 m |
Kas7 | KSB004 |
|
|
|
| assay below cutoff |
Kas7 | KSB005 |
|
|
|
| assay below cutoff |
Kas7 | KSB006 |
|
|
|
| assay below cutoff |
Kas7 | KSB007 |
|
|
|
| assay below cutoff |
Table 3; Kasombo Project – Cobalt - Summary of assay for entire drilling
Prospect | Hole_Id | From | To | Length [m] | Grade [ppm] | Description |
Kas5 | KSB001 | 16.00 | 19.00 | 3.00 | 2140 | KSB001: 3 m @ 0.21% Co from 16 m |
Kas5 | KSB001 | 34.00 | 40.00 | 6.00 | 2348 | KSB001: 6 m @ 0.23% Co from 34 m |
Kas5 | KSB001 | 52.00 | 56.00 | 4.00 | 2044 | KSB001: 4 m @ 0.20% Co from 52 m |
Kas5 | KSB002 | 17.00 | 32.00 | 15.00 | 1670 | KSB002: 15 m @ 0.17% Co from 17 m; ABD |
Kas5 | KSB003 | 11.00 | 21.00 | 10.00 | 2223 | KSB003: 10 m @ 0.22% Co from 11 m; ABD |
Kas5 | KSB003b | 36.00 | 48.00 | 12.00 | 1911 | KSB003b: 12 m @ 0.19% Co from 36 m |
Kas5 | KSB003b | 55.00 | 57.00 | 2.00 | 2270 | KSB003b: 2 m @ 0.23% Co from 55 m |
Kas7 | KSB004 | 8.00 | 19.00 | 11.00 | 1038 | KSB004: 11 m @ 0.10% Co from 8 m |
Kas7 | KSB005 |
|
|
|
| assay below cutoff |
Kas7 | KSB006 | 10.00 | 13.00 | 3.00 | 1311 | KSB006: 3 m @ 0.13% Co from 10 m |
Kas7 | KSB007 |
|
|
|
| assay below cutoff |
KEY:
Kas5 is Kasombo 5 prospect
Kas7 is Kasombo 7 prospect
ABD: abandoned above target
An assay of 10,000 ppm is equivalent to 1%; to convert units of concentration, divide ppm by 10000 to obtain units of %
Criteria used to aggregate copper assay in Table2: cutoff grade: 1%; minimum width: 4 m; maximum internal dilution: 2 m.
Criteria used to aggregate cobalt assay in Table 3: cutoff grade: 0.1% minimum width: 3 m; maximum internal dilution: 2 m.
JORC Code, 2012 Edition – Table 1 Kasombo Mapping and Sampling
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria | JORC Code explanation | Commentary |
Sampling techniques |
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Drilling techniques |
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Drill sample recovery |
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Logging |
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Sub-sampling techniques and sample preparation |
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Quality of assay data and laboratory tests |
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Verification of sampling and assaying |
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Location of data points |
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Data spacing and distribution |
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Orientation of data in relation to geological structure |
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Sample security |
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Audits or reviews |
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Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria | JORC Code explanation | Commentary |
Mineral tenement and land tenure status |
|
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Exploration done by other parties |
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Geology |
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Drill hole Information |
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Data aggregation methods |
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Relationship between mineralisation widths and intercept lengths |
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Diagrams |
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Balanced reporting |
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Other substantive exploration data |
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Further work |
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