Cyprus, Caledonia hit copper grades in Zambia

Drilling by its joint-venture partner has intercepted promising copper intersections at Caledonia Mining’s (CAL-T) Kadola property in Zambia.

Cyprus Amax Minerals (CYM-N) has drilled 19 shallow holes on a structure known as Jack’s Syncline, with encouraging results.

Significant intervals include 9 metres grading 0.9% copper from a depth of 67 to 76 metres in hole KJ12.

The hole was collared on the faulted nose of a fold, along with several other holes, including:

* hole KJ13, which encountered 12 metres of 0.76% copper at a shallower depth of 18-30 metres below the surface (farther down, the hole hit another 8 metres grading 0.49% copper);

* hole KJ11, which hit 5 metres grading 0.62% copper from 65 to 70 metres depth; and

* hole KJ14, which hit 14 metres grading 1% copper from a depth of 113-127 metres;

* hole KJ12, which hit narrower widths of mineralization measuring 3 metres and grading 0.39-0.49% copper; and

* hole KJ16, which hit 16 metres grading 0.41% copper from a depth of 11-27 metres.

The holes tested a copper anomaly on Jack’s Syncline, which extends intermittently for 18 km with the Lower Roan formation and remains open-ended to the northwest and southwest.

Cyprus will begin its second round of exploration on Kadola in April, including soil sampling, with more drilling expected to follow.

The major can earn a 75% interest in Kadola, though Caledonia retains a back-in right for an additional 10% by funding 10% of all subsequent expenditures.

Kadola is between Caledonia’s Kadola West and Eureka properties at the southern extension of the Zambian copper belt.