Mining group African Copper has revealed the initial inferred resource estimate for the Mowana North Area in Botswana as 56.8m tonnes grading 0.45 per cent copper.
Drilling has been conducted over an area covering 2km by 300 metres with samples taken across the mineralised orebody for testing. The results were categorised as inferred because it was not possible to identify a continuity of high grade intersections between boreholes. The estimate may be recategorised once additonal, more closely spaced infill drilling between current section lines occurs.
Jordan Soko, Acting Chief Executive of African Copper, said: "Our exploration drilling programme at Mowana continues to demonstrate extensions to the main orebody - southwards, as announced last year, and now northwards. The exploration campaign will focus on infill drilling to prove up the inferred resources announced today."
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The estimate extends the known copper mineralisation an additional 2km northwards, it added.
The news failed to impress investors however, and the share price fell 11.76% to 1.88p by late afternoon.
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