Five of seven holes drilled at the Tenke Fungurume copper-Cobalt project in the Democratic Republic of Congo confirm the property’s potential for additional copper-Cobalt mineralization, Tenke Mining (TNK-T) reports.
Complete assay results are in for only two of the holes:
Hole 3 intersected oxide mineralization, returning 17.02 metres (true width) averaging 5% copper and 0.35% cobalt, whereas hole 1 hit sulphide material, returning 6 metres (true width) grading 2.45% copper and 0.07% cobalt.
The property comprises 1,437 sq. km in the country’s southeastern highlands, and contain some of the world’s richest copper-Cobalt deposits.
Resources stand at 222 million tonnes grading 4.42% copper and 0.33% cobalt, including proven minable reserves of 92.6 million tonnes grading 4.59% copper and 0.36% cobalt.
Vancouver-based Tenke owns 55% of the concessions, with the government of the Democratic Republic of the Congo (formerly Zaire) controlling the remainder.
New President Laurent Kabila, who recently took power after a 7-Month civil war, has promised to respect the terms of the company’s joint venture.
The company plans to drill about 40,000 metres in the current program.
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