Central Copper expands DRC copper portfolio
UK-headquartered Central Copper Resources (CCR) has acquired 100% ownership of Titan Mining & Exploration, which holds 78% of the Kayeye project, in the Democratic Republic of Congo (DRC).
The project entails a licence area of 231 km2, adjacent to TSX-listed Ivanhoe Mines’ Kamoa-Kakula project.
CCR says the acquisition adds to the company’s exploration potential for new copper discoveries, since it also has a 65% interest in Comilu, in the DRC, which owns the prefeasibility-level Mbamba Kilenda project and 12 additional licences covering 80 km of prospective strike.
The company also owns 100% of the Lunga copper project, in Zambia.
CCR plans to advance all of its projects through respective short-term work programmes, including resource expansion at Mbamba, geochemical sampling and geophysics over areas adjacent to Mbamba, and geophysical work to support drill targeting at Kayeye and Lunga.
The company also intends to advance a definitive feasibility study of Mbamba’s Phase 1 development.
CCR is finalising a short-term funding package to advance the projects, prior to an intended Aim listing later this year.
Newly appointed CEO Luke Knight says consistent feedback during recent marketing has highlighted that CCR and its portfolio of projects are more suited to alternative exchanges that put a higher value on the exploration potential of its assets, and CCR’s ability to significantly add to the mineral inventory of those assets in the near term.
“The wealth of exploration and technical expertise within the company will ensure CCR returns to market at an appropriate time with both best-in-class exploration targets and the potential for near-term production over its flagship Mbamba project.”
