An Australian-based resources company called Blackthorn Resources caught investors’ attention in Australia when it announced that it had doscovered high grade copper from its Mumba project exploration. The Company reported that it had intersected the best copper intersections recorded to date at the Company’s 100% held Mumbwa Project.

Included in this intersection were the high grade lengths of; 17 metres at 14.88% copper from 211 metres; 10 metres at 10.06% copper from 265 metres; and 10 metres at 9.11% copper from 283 metres.

Blackthorn is exploring the area for Iron Oxide Copper-Gold style of mineralisation.

Drilling is ongoing at the project, with the phase five program to include 19 holes for around 9700 metres, and will wrap up in about a months’ time – with assays to follow thereafter.

By the close, Blackthorn’s shares had added $0.315 or 44% on the day to $1.025, with more than five million shares changing hands.

[Proactive Investors news]

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15 COMMENTS

  1. Good for Blackhorn and it’s owners. As locals, we can only hope for jobs since we don’t have capital to undertake such projects.

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  2. Always mistakes in you writings what is the purpose of your editors Mumbwa and not Mumba discovered and not doscovered poor you close your paper

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  3. Let the owners rejoice, and some politicians because it will be more money in their pockets. As for the poor laborers I only hope they build you a good hospital for your area and a good school, tar your roads and bring electricity. I also hope they build you good houses like copperbelt and kabwe. just build a whole new city while you make billions in mumbwa.

    just wishing.:)>-

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  4. 100 % ownership of project. I hope that is only logistics because land is on lease. Zambia should introduce the Israeli jubeliee system of Land Leasing.

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  5. ” By the close, Blackthorn’s shares had added $0.315 or 44% on the day to $1.025, with more than five million shares changing hands. ”

    Clearly, the markets believe that this windfall will go to the shareholders, not the Zambian people.

    I say nationalize them all if they won’t pay taxes. It is the only way to benefit from our national resources.

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  6. Ya finish tommorow you will hear that in line with the realignment policy that the president has embarked on Mumbwa has been transferred to Lusaka province with immediate effect…

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  7. 2,3,4 MKM, haha  YOU HAVE made my day! do not be so quickie to critic .  next time gather you thoughts, think about what you want to say then type it out, read it over twice, then ask someone else to read through it, then post! lol!

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  8. I do accept as true with all of the ideas you’ve presented for your post. They’re really convincing and will certainly work. Nonetheless, the posts are very quick for novices. Could you please prolong them a bit from subsequent time? Thanks for the post.

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