Zambian Joint Venture for Copper and Cobalt Exploration

Discover how Cooperlemon Consultancy Limited and Xtract Resources Plc are advancing copper and cobalt exploration in Zambia through strategic joint ventures, targeting high-grade Kamoa-style and Kolwezi-style mineralisation in the Northwest Zambia’s Western Foreland geological district.

New Large Scale Exploration Licences in Northwest Zambia

On May 29, 2024, Cooperlemon Consultancy Limited is excited to announce an extension of its joint venture with Xtract Resources Plc, focusing on copper and cobalt exploration in Zambia. This partnership now includes three additional large-scale exploration licences in Northwest Zambia.

Strategic Joint Venture Agreement

The joint venture agreement originally included licences 29123-HQ_LEL and 30459-HQ-LEL. With the addition of licences 30458-HQ-LEL, 21851-HQ-LEL, and 21850-HQ-LEL, the combined exploration area now spans 173,586 hectares. These licences are strategically located within the Western Foreland geological district and the Central Fold and Thrust Belt, known for hosting the renowned Kamoa-Kakula deposit.

High-Grade Mineralisation Potential

The geological setting of these licences suggests the potential for high-grade Kamoa-style mineralisation at depth, as well as Kolwezi-style near-surface copper and cobalt deposits. Limited previous exploration on these additional licences offers a fresh opportunity for discovering significant mineral resources.

Exploration Plan and Investment

Fieldwork on the new licences is set to begin in the second half of 2024, aiming to identify potential drill targets. Xtract Resources will invest $500,000 per licence over two years to earn a 65% interest, totaling a $3.5 million commitment when combined with existing agreements. Positive exploration results could lead to forming a joint venture company to further develop these promising sites.

Geology and Location

The additional licences are positioned near the DRC border, within a geological framework similar to the high-grade Kamoa-Kakula deposit. The presence of the Western Foreland succession and the Lufilian Fold Thrust Belt enhances the area’s prospectivity. Notably, adjacent licences have shown promising signs of Kamoa-Kakula type mineralisation, reinforcing the potential of this joint venture.

About Cooperlemon Consultancy Limited

Cooperlemon is a Zambian-based mining consultancy firm, 50% owned by Oval Mining Limited. The firm specializes in mining-related community empowerment, social development, mine rehabilitation, and engineering design. The executive team, led by Tolayi Sikumba and Lukonde Makungu, brings extensive expertise and local insight to the partnership.

Economic Impact and Future Outlook

This joint venture not only aims to uncover valuable mineral resources but also contributes to Zambia’s economic recovery in mining. By leveraging local expertise and advanced exploration techniques, Cooperlemon and Xtract Resources are well-positioned to make significant contributions to the Zambian mining sector.

For more details on this joint venture and other projects, visit Cooperlemon Consultancy Limited and Xtract Resources Plc.

Get Started Today:

Ready to elevate your mining operations in Zambia with CooperLemon’s expert Mining Contractors? Contact us today to discuss your project requirements, and let’s embark on a journey of success together. With CooperLemon as your trusted partner, the future of mining in Zambia is bright and promising.

Contact Us:

Don’t let limitations hold back your mining ventures. Contact Cooperlemon Consultancy Limited today to learn more about how we can help you access everything you need to succeed.

📞 Phone: (+260) 972548430
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Let’s equip your ventures for success! #MiningEquipment #Zambia #CooperlemonConsultancy
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