Copper 360 announces that it has started a drilling campaign to confirm the historical drill database from Newmont and Gold Fields on the Rietberg Copper Mine in the Northern Cape Province of South Africa.
The company had used the previous extensive geological database to model large bodies of copper mineralization which will be targeted for mining. Due to the core from the drillholes not being available, the company as the final step before mining commences, has started a drilling campaign to test the validity of the historic geological database.
The company is pleased to announce that the results from the first 2 boreholes has confirmed the validity of the historical database in every aspect from geological rock type, type and quantity of mineralization and intersection widths and depths.
The first 2 holes have made copper intersections of over 45m each just 30m below surface. Initial XRF analysis yielded copper values of between 5 and 7% Copper.
Jan Nelson, CEO of Copper 360 commented; “Having copper ore bodies of over 40m wide with continuous mineralization running over 3 to 5% Copper over the entire hole just 30m below surface is spectacular and have exceeded all our expectations. What is more, we have development less than 50m away from the mineralization with all underground infrastructure in terms of ore-passes etc. already in place. We are currently busy with plant construction and will provide the market with further project updates in the coming months. We continue our drilling program and will present these results on the day of listing aimed for the end of February”.
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About Copper 360:
Copper 360 is an emerging giant in the South African copper mining industry. With operations based in the Northern Cape, the company is focused on developing one of the largest and most promising copper districts in the world.
The company was formed in November 2022 following a reverse takeover of copper producer Big Tree Copper and copper miner SHiP Copper. It will list on the JSE in February 2023.
Copper 360 is currently producing 1200 tons of A-grade copper cathode per annum and is aiming to ramp production up to 7,700 tons of copper production within 24 months. The company is currently building 3 new copper floatation plants at a capital cost of ZAR280 million. Copper 360 will be one of the lowest all-in sustaining cost producers in the world as a result of the surface and shallow nature of the copper deposits. The company will also maintain a profit margin in excess of 60% as a result of the high copper grades of the deposits targeted.
Copper 360 is committed to responsible and sustainable mining practices. The company’s focus on environmental responsibility and social responsibility has allowed it to establish a strong reputation as a leader in the industry.
At Copper 360, the company values diversity, equality, and inclusion in all aspects of its operations. The company’s workforce is made up of individuals from a wide range of backgrounds, and the company is committed to creating an inclusive workplace where all employees can thrive.
As the mining and resources industry continues to evolve and change, Copper 360 is set to become one of the key players in the development of the South African and African copper market.
