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IvanPlats - "Africa's largest undeveloped copper discovery"

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IvanPlats - "Africa's largest undeveloped high-grade copper discovery"

 

Friedland does it again with huge DRC copper project

http://www.mineweb.c...73570&sn=Detail

 

Very interesting !

It is one to watch

 

 

Canadian mining entrepreneur extraordinaire, Robert Friedland, appears to have done it again. Not merely content with his companies finding the Voisey’s Bay nickel mega-deposit in Canada and the giant Oyu Tolgoi copper/gold project in Mongolia, his recently floated Ivanplats company has unearthed what it claims is Africa's and the world's largest undeveloped high-grade copper discovery. The deposit is at Kamoa in the Democratic Republic of Congo (DRC), the location for most of Africa’s major high grade copper deposits.

According to the latest release from Ivanplats, Kamoa's Indicated Mineral Resource has expanded to 739 million tonnes grading 2.67% copper, an increase of 115% since the company’s IPO in October last year. The new resource estimate has stemmed from a new, independent review of drilling results by AMEC E&C Services of Reno, Nevada.

The release goes on to note that the new estimate increases Kamoa's Indicated Mineral Resources to a total of 739 million tonnes of material grading 2.67% copper, containing 43.5 billion pounds (19.7 million tonnes) of copper – more than doubling the previous September 2011 estimate of 348 million tonnes, containing 20.2 billion pounds of copper. Both estimates used a 1% copper cut-off grade and a minimum vertical mining thickness of three metres.

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