Cape Lambert Resources Limited : Market Update – Kipushi Tailings Projects

(firmenpresse) - Market Update - Kipushi Tailings Projects

Highlights
- Assays from Tailings drilling imminent;
- Discussions with Financiers and Offtakers continuing; and
- Funded EPCM contract in discussion.

Australian resources and investment company, Cape Lambert Resources Limited (ASX: CFE) (Cape Lambert or the Company) is pleased to provide an update on the progress of the Kipushi Cobalt-Copper Tailings Project (Kipushi Project) in the Democratic Republic of Congo (DRC).

The Kipushi Project, located near the town of Kipushi approximately 25km from Lubumbashi, refer Figure 1, involves the reprocessing of cobalt-copper tailings contained in the Kipushi Tailings Storage Facility (Kipushi TSF) and is operated by Soludo Lambert Mining SAS (Soludo Lambert), under a 50/50 joint venture arrangement between local entity Paragon Mining SARL (Paragon) and Cape Lambert. Paragon has a 70% interest in the Kipushi Project via a contract with La Patience SPRL that gives it the right to exploit and process the tailings from the Kipushi TSF and sell the product.

Early October 2018 drilling contractor, Solutions for Africa, completed 47 holes for a total of 432m. Samples were dispatched to the laboratory of ALS in Lubumbashi for assay with the results expected in the coming week. Once received, work will commence on preparing the Mineral Resource estimation for the tailings dam.

Preliminary work has been completed to create a three dimensional volume model of the tailings using surveyed topography and depths to base of tailings obtained from recent drilling. In the area drilled, this work has indicated a potential volume in the order of 2.8 million cubic metres of tailings contained. The area drilled only represents a subset of the total tailed area and has already indicated a volume greater than what was expected in overall. In-situ dry density test work is still to be completed which will allow a total tonnage calculation however an initial estimation of tonnage can be determined using a conservative density range of 1.5 t/m3 - 2.0 t/m3 (expected dry SG for copper cobalt quartz sand is >2.0 t/m3) resulting in a potential tonnage of tailings in the range of 4.2 Mt - 5.6 Mt. This potential volume is conceptual in nature and there has been insufficient exploration to determine accurate tonnage or data received to enable estimation of a mineral resource. It is uncertain if further exploration will result in the estimation of a mineral resource.

Discussions with several potential project financiers have progressed as well as discussions with a major party for an offtake agreement for the cobalt hydroxide product (produced through a leach process).

The Company has also been approached by an Engineering, Procurement and Construction Management (EPCM) contractor that has offered to fund and build the Project, with the cost being repaid from production revenue. Discussions with this company are progressing with a firm costed proposal awaited.

Commenting on the progress so far, Chairman Tony Sage said I am confident that financing and offtake agreements can be finalised in the very near future. I am also encouraged by the offer received for an EPCM contractor to fund the building of the leaching plant, which presents an alternative option to getting into production, so I look forward to receiving their proposal.

Yours faithfully
Cape Lambert Resources Limited
Tony Sage

Executive Chairman

Cape Lambert Resources Limited (ASX: CFE) is a mineral exploration and development company with a diverse portfolio and exposure to cobalt, copper, iron ore, lithium, gold, uranium and lead-silver-zinc assets in Australia, Europe, Africa and South America.

Australian Securities Exchange
Code: CFE

Ordinary shares
1,011,734,914

Unlisted Options
15,336,363 ($0.07 exp 12 Mar 2020)
7,667,727 ($0.07 exp 19 Mar 2020)
5,250,000 ($0.04 exp 31 Mar 2020)

Board of Directors
Tony Sage-
Executive Chairman

Tim Turner-
Non-executive Director

Stefan Müller
Non-executive Director

Melissa Chapman
Company Secretary

Cape Lambert Contact
Investor Relations
Phone: -+61 8 9380 9555
Email:-info(at)capelam.com.au
www.capelam.com.au

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Olaf Frederickson. Mr Frederickson is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr Frederickson is a consultant to Cape Lambert Resources. Mr Frederickson consents to the inclusion in the report of the Exploration Results in the form and context in which they appear.

https://www.irw-press.at/prcom/images/messages/2018/45350/181130 Market Update Kipushi_Final_PRCOM.001.jpeg

Figure 1: Kipushi location map

https://www.irw-press.at/prcom/images/messages/2018/45350/181130 Market Update Kipushi_Final_PRCOM.002.jpeg

Figure 2: Drill Hole Locations overlain with volume model in blue.

https://www.irw-press.at/prcom/images/messages/2018/45350/181130 Market Update Kipushi_Final_PRCOM.003.png

Figure 3: 3D image of volume model.

JORC Code, 2012 Edition - Table 1 Kipushi Tailings
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling · Nature and quality of sampling (eg cut · Auger drilling used to take vertical
techniqu channels, random chips, or specific samples.
es specialised industry standard
measurement tools appropriate to the · Samples of varying length taken downhol
minerals under investigation, such as e
down dependent on auger penetration.
· Samples were collected in plastics and
hole gamma sondes, or handheld XRF placed into calico
instruments, bags.

etc). These examples should not be taken · Samples have been dried and sent to
as limiting the broad meaning of ALS for sample
sampling.
prep and analysis.
· Include reference to measures taken to
ensure sample

representivity and the appropriate
calibration of any measurement tools or
systems
used.

· Aspects of the determination of
mineralisation that are Material to the
Public
Report.

· In cases where industry standard
work has been done this would be
relatively simple
(
eg reverse circulation drilling was
used to obtain 1 m samples from which 3
kg was pulverised to produce a 30 g
charge for fire assay). In other cases
more explanation may be required, such
as where there is coarse gold that has
inherent sampling problems. Unusual
commodities or mineralisation types
(
eg submarine nodules) may warrant
disclosure of detailed
information.

Drilling · Drill type (eg core, reverse · Drilling conducted by auger with a
techniqu circulation, open-hole hammer, rotary shaft length of 1.4m and diameter of
es air blast, auger, Bangka, sonic, approximately 20
cm.
etc) and details (eg core diameter,
triple or standard tube, depth of · Dead stick technique employed.
diamond tails, face-sampling bit or
other type, whether core is oriented
and if so, by what method,

etc).
Drill · Method of recording and assessing core · Sand sample removed manually from the
sample and chip sample recoveries and results auger flights and collected as a single
recovery assessed. sample for each length of auger
penetration.
· Measures taken to maximise sample
recovery and ensure representative
nature of the
samples.

· Whether a relationship exists between
sample recovery and grade and whether
sample bias may have occurred due to
preferential loss/gain of fine/coarse
material.

Logging · Whether core and chip samples have · Samples were logged for colour, grain
been geologically and size, moisture, clay
content.
geotechnically logged to a level of
detail to support appropriate Mineral · Logging was qualitative.
Resource estimation, mining studies and
metallurgical
studies.

· Whether logging is qualitative or
quantitative in nature. Core (or
costean, channel,

etc) photography.
· The total length and percentage of the
relevant intersections
logged.

Sub-sampl· If core, whether cut or sawn and · All samples were partially wet but
ing whether quarter, half or all core were competent to the touch. The
techniqu taken. material was in the form of
es and
sample · If non-core, whether riffled, tube stratigraphically layered non saturated
preparat sampled, rotary split, tailings of fairly uniform
ion consistency.
etc and whether sampled wet or dry.
· For all sample types, the nature,
quality and appropriateness of the
sample preparation
technique.

· Quality control procedures adopted for
all sub-sampling stages to maximise

representivity of samples.
· Measures taken to ensure that the
sampling is representative of the in
situ material collected, including for
instance results for field
duplicate/second-half
sampling.

· Whether sample sizes are appropriate
to the grain size of the material being
sampled.

Quality · The nature, quality and · Samples sent to ALS lab.
of appropriateness of the assaying and · Results pending.
assay laboratory procedures used and whether
data the technique is considered partial or
and total.
laborato
ry · For geophysical tools, spectrometers,
tests handheld XRF instruments,

etc, the parameters used in determining
the analysis including instrument make
and model, reading times, calibrations
factors applied and their derivation,
etc.

· Nature of quality control procedures
adopted
(
eg standards, blanks, duplicates,
external laboratory checks) and whether
acceptable levels of accuracy
(
ie lack of bias) and precision have been
established.

Verificat· The verification of significant · No verification work has been
ion intersections by either conducted.

of independent or alternative company · Test pits alongside some drilled holes
sampling personnel. have been used in place of twinned
and holes.
assaying· The use of twinned holes.
· Documentation of primary data, data
entry procedures, data verification, · Results pending.
data storage (physical and electronic)
protocols.

· Discuss any adjustment to assay data.
Location · Accuracy and quality of surveys used · Drill holes were located with handheld
of data to locate drill holes (collar and GPS.
points down-hole surveys), trenches, mine
workings and other locations used in
Mineral Resource
estimation.

· Specification of the grid system used.
· Quality and adequacy of topographic
control.

Data · Data spacing for reporting of · Samples were taken according to auger
spacing Exploration penetration.
and Results.
distribu · Drill holes were planned on a nominal
tion · Whether the data spacing and 75m x 75m diamond
distribution is sufficient to establish grid.
the degree of geological and grade
continuity appropriate for the Mineral · Some holes were in accessible due to
Resource and Ore Reserve estimation ground
procedure(s) and classifications conditions
applied.
· Samples were not composited.
· Whether sample compositing has been
applied.

Orientati· Whether the orientation of sampling · No particular geological structure is
on of achieves unbiased sampling of possible evident in the
data in structures and the extent to which this tailings
relation is known, considering the deposit
to type.
geologic
al · If the relationship between the
structur drilling orientation and the
e orientation of key mineralised
structures is considered to have
introduced a sampling bias, this should
be assessed and reported if
material.

Sample · The measures taken to ensure sample · Sample chain of custody was maintained
security security. by the geologist throughout delivery to
their place of
storage.

Audits · The results of any audits or reviews · No audits or reviews have been done.
or of sampling techniques and
reviews data.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral · Type, reference name/number, location · Work was conducted on PER 12347 in the
tenement and ownership including agreements or Kipushi
and material issues with third parties such Tailings area of southern DRC.
land as joint ventures, partnerships, · The licence is reportedly held by
tenure overriding royalties, native title state owned company
status interests, historical sites, wilderness
or national park and environmental Gecamines and is the subject of a rights
settings. agreement between

· The security of the tenure held at the Gecamines and Paragon SARL and a
time of reporting along with any known proposed joint venture agreement
impediments to obtaining a licence to between Paragon SARL and Cape Lambert
operate in the Resources.
area.
· Details of tenure are to be confirmed
as part of the due
diligence.

Explorati· Acknowledgment and appraisal of · No known exploration has been
on done exploration by other conducted on the
by parties. tailings.
other
parties · Historical plant records have been
requested.

Geology · Deposit type, geological setting and · Post processing tailings.
style of
mineralisation.

Drill · A summary of all information material · Pending receipt of assay results.
hole to the understanding of the exploration
Informat results including a tabulation of the
ion following information for all Material
drill
holes:

o easting and northing of the drill hole
collar

o elevation or RL (Reduced Level -
elevation above sea level in metres) of
the drill hole
collar

o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
· If the exclusion of this information
is justified on the basis that the
information is not Material and this
exclusion does not detract from the
understanding of the report, the
Competent Person should clearly explain
why this is the

case.
Data · In reporting Exploration Results, · Results pending.
aggregat weighting averaging techniques, maximum
ion and/or minimum grade truncations
methods (
eg cutting of high grades) and cut-off
grades are usually Material and should
be
stated.

· Where aggregate intercepts incorporate
short lengths of high grade results and
longer lengths of low grade results,
the procedure used for such aggregation
should be stated and some typical
examples of such aggregations should be
shown in
detail.

· The assumptions used for any reporting
of metal equivalent values should be
clearly
stated.

Relations· These relationships are particularly · Samples were taken vertically.
hip important in the reporting of · The base of the tailings was
between Exploration intersected in all but 1
Results.
mineralis holes.
ation · If the geometry of the mineralisation
widths with respect to the drill
and
intercephole angle is known, its nature should
t be
lengths reported.

· If it is not known and only the down
hole lengths are reported, there should
be a clear statement to this effect
(
eg down hole length, true width not
known).

Diagrams · Appropriate maps and sections (with · See attached location plan.
scales) and tabulations of intercepts
should be included for any significant
discovery being reported These should
include, but not be limited to a plan
view of drill hole collar locations and
appropriate sectional
views.

Balanced · Where comprehensive reporting of all · All results have been reported
reportin Exploration Results is not practicable,
g representative reporting of both low
and high grades and/or widths should be
practiced to avoid misleading reporting
of Exploration
Results.

Other · Other exploration data, if meaningful · N/A
substant and material, should be reported
ive including (but not limited to):
geological
explorati
on observations; geophysical survey
data results; geochemical survey results;
bulk samples - size and method of
treatment; metallurgical test results;
bulk density, groundwater, geotechnical
and rock characteristics; potential
deleterious or contaminating
substances.

Further · The nature and scale of planned · Additional drilling will be completed
work further work as
( required.
eg tests for lateral extensions or depth
extensions or large-scale step-out · Further work to determine in-situ SG
drilling). to be conducted
shortly.
· Diagrams clearly highlighting the
areas of possible extensions, including
the main geological interpretations and
future drilling areas, provided this
information is not commercially
sensitive.

Unternehmensinformation / Kurzprofil:
Leseranfragen:
Bereitgestellt von Benutzer: irw
Datum: 30.11.2018 - 15:03 Uhr
Sprache: Deutsch
News-ID 584825
Anzahl Zeichen: 24128

contact information:
Town:

Wien

Kategorie:

Business News

Diese Pressemitteilung wurde bisher 485 mal aufgerufen.


Die Pressemitteilung mit dem Titel:
"Cape Lambert Resources Limited : Market Update – Kipushi Tailings Projects
"
steht unter der journalistisch-redaktionellen Verantwortung von

Cape Lambert Resources Limited (Nachricht senden)

Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).

Alle Meldungen von Cape Lambert Resources Limited