Etoile Extension

The Etoile Extension project (licence 1538), is the most advanced in the exploration portfolio. The Etoile Extension is located adjacent to the Company's Etoile Mine (license 577) and it will provide additional plant feed to the existing processing facilities.

Etoile Extension

The Etoile Extension deposit is situated on the eastern flank of Lufilian Arc along regional anticlinal structure that trends NW-SE. Flanks of this antiform comprises Kundelungu sediments, while older Roan group sediments occupy the core.

Soil geochemical sampling was conducted in 2006 to define drill targets on the licence area. In 2007 an extensive drill programme was initiated. Phase I regional exploration involved drilling 3600m in 38 drill holes in one kilometre of strike length. This defined a resource base of 3.1Mt at 0.3%Cu and 0.61%Co, up to a depth of 140m. Cobalt and copper mineralization is hosted in R2 subgroup of Mine series litho units, occurring as a mega fragment within the thick pile of sediments of RAT (R1) and RGS (R3). The low grade primary mineralized zone is associated with the lower ore body (RSF+D Strat) within the mine series rocks.

The length of the ore body at Etoile Extension is just over 300m and the width near surface is approximately 100 to 150m wide. While the deposit has relatively low grade copper mineralization, the cobalt mineralisation is estimated to be consistent with the Etoile and Ruashi mines. The deposit will extend the life of mine at Etoile by providing additional feed for the HMS plant. The Company is currently working to convert the data to compile a JORC compliant resource and reserve statement.

The deposit is well located, proximal to existing mine infrastructure at the Etoile mine and is also suitable for open pit mining, making it an attractive target for exploitation.