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BLACKTHORN RESOURCES LTD

ASX: BTR

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Description

Delisted as of 11/12/2014 following a merger with Intrepid Mines Ltd (ASX: IAU)

Blackthorn Resources Limited (ASX: BTR) is an Australian-based resources company with a diverse portfolio of African assets including Zinc, Gold and Copper. Blackthorn Resources endeavour to create long-term wealth for its shareholders and stakeholders through the successful development of its three key assets which include:

the Perkoa Zinc Project joint venture with Glencore in Burkina Faso,
Burkina Faso Gold exploration project, and
the Mumbwa Joint Venture Project with BHP Billiton in Zambia.

Perkoa Zinc mine is being developed by a joint venture between Blackthorn Resources (39.9%) and Glencore International AG (50.1%). Glencore is managing and operating the mine which is currently under construction and targeting full production in H2 2012. Cold commissioning of the operation is expected throughout late 2011. Development onsite is well advanced having completed the mine accommodation camp, box cut and underground access portal. Construction of the processing plant is underway and is approximately 50% complete to date. The Perkoa project continues towards becoming the first zinc mine in West Africa. Zinc mineralisation is hosted by a Volcanic Massive Sulphide ore body situated within the Boromo Greenstone Belt. The Perkoa ore body contains a probable ore reserve of 6.3Mt at 13.9% zinc as reported using the guidelines of the 2004 JORC Code.

Burkina Faso Gold (100%) exploration activities are conducted over 7 exploration permits covering 1,134 sq km which are prospective for gold and base metals (zinc, copper and lead). The permit areas are situated within the Boromo Greenstone Belt which trends from Mali in the north, through Burkina Faso and into Ghana in the south. The Boromo Greenstone Belt is host to a number of gold projects including the Perkoa Zinc project. Maiden inferred mineral resource was completed for the GUIDO Prospect which estimates 4.1Mt at 1.06 g/t Au for 139,000 ounces of gold. Further exploration in 2011 is aiming to upgrade the category and volume of the mineral resource.

In Zambia, Blackthorn Resources has a 60% joint venture interest in the Mumbwa iron oxide copper-gold (IOCG) project with BHP Billiton (40%). The Company’s exploration strategy is modelled on the IOCG style of mineralisation similar to Olympic Dam and Prominent Hill in South Australia, and Ernest Henry in Queensland. Blackthorn Resources intersected copper mineralisation at Kitumba in 2007 under the Phase 2 exploration program. Subsequent work has delineated an Inferred Mineral Resource for the Kitumba deposit estimated at 87Mt at 0.94% copper (using 0.5% cu cut-off). BHP Billiton is currently managing and funding the Phase 4 exploration program.

Mine For

zinc, gold, iron ore, copper, gold

Location of operation(s)

Burkina Faso, Zambia

Address

Se 201, Level 2, 80 William St
SYDNEY, NSW, Australia

Phone

(61 2) 9357 9000

Email

Website


Last Updated

18/5/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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