Resource Mining Corporation is accelerating activities at its Tanzanian copper-gold projects on the back of recent positive results.
The company is now planning its next steps at the Mpanda project after completing a laboratory analysis workstream for soil and auger samples it had collected from the Stalike and Kabungu prospects.
Resource Mining will then use the data generated to identify drilling targets at Stalike and Kabungu as part of its future exploration activities at Mpanda.
Artisanal mine workings
Resource Mining has investigated the location of artisanal mine workings in and near the Mpanda project and collected rock samples with the aim of establishing a mineralisation trend for the project.
The company will use mine workings mapping from outside the licence area to understand the general mineralisation trend and geological controls in the region.
It collected a total of 16 rock samples from the artisanal mine workings, with excellent analytical results indicating the presence of gold and copper mineralisation in the project areas.
Recent update
“Renewed investor interest in Resource Mining in the past week has been very encouraging following our recent update of ongoing exploration activities,” executive chair Asimwe Kabunga said.
“These works are ongoing and will help form the basis for a more structured and targeted low-cost drill program that we can execute in the near term once we complete the current sampling program.”
The company is also considering opportunities for early mineral production based on the existing processing capacity in close proximity to the Mpanda project, in particular at the Stalike and Kabungu prospects.
“Given the extensive small-scale workings located across our Stalike and Kabungu projects where local miners have exploited the near-surface material, Resource Mining is uniquely positioned to accelerate development of its own mineral production operations without extensive capex,” Mr Kabunga added.
