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VUP Copper/Cobalt JV

  • RRR: 50.1% Interest - Control of Joint Venture
  • 3 Copper/Cobalt Licenses in the hear of the Katanga Segment - Central African Copperbelt
  • Significant Activity by Majors in the Region
  • Sizeable Estimated In-Situ Values
  • Mining/Production licenses - Fast Track to Production Available

Red Rock Controls Three Licenses in Katanga Segment of the Central African Copperbelt Prospective for Copper and Cobalt

Democratic Republic of Congo

With an estimated USD 24 trillion in untapped deposits of cobalt, copper, diamonds, gold and other minerals, the DRC is a key mining destination with a large number of mining companies actively operating across the country.

A considerable proportion of the worlds supply of cobalt is mined every year in the country, and companies around the world are seeking to secure cobalt supplies, in particular those with sustainability procedures in place to ensure that artisanal child labour has not been utilized in their production.  

Musonoi

The Musonoi Licence PE4962 is located 3km west of the town Kolwezi in a world class cobalt/copper postcode.  The Licence lies within the Kolwezi Klippe, possibly the most prolific copper-cobalt district within Katanga that despite >80 years of mining, still holds vast delineated resources. A considerable proportion of the world supply of cobalt is produced in this region yearly.  The area is serviced by modern infrastructure in an established mining area.

Surrounded By Majors - 7 major cobalt/copper deposits within 5km

Red Rock's consultant geologists have conducted desktop studies of historical data in the license area and have identified deposit potential of up to 400,000 tons of contained copper and 25,000+ of cobalt, based primarily on analysis of historical reports covering 83 drill holes, assays, and over 750 pages of reports.  The license forms part of the historic "Musonoi Super Deposit", with the Company's license covering part of the Western Pit.  Typical grades in the area range from 3-5% Copper and 0.5%-1% Cobalt.

The most recent tonnage estimate for the historic Musonoi super pit is 26,500,000 tonnes at 4.27% Cu and 0.57% Co, yielding 1,131,550 tonnes Cu metal and 151,050 tonnes Cobalt.  The in-situ value of the Company's resource in the ground is USD 125Bn.  Musonoi has been historically mined to a depth of 105m, and similar mines in the region including Glencore's Katanga project, have mined high grade Copper and Cobalt to depths of several times that level.

Kamukongo

Covering an area of approximately 5km2 the Kamukongo licence PE663 lies at the western end of the regional Kansuki and Kamikongwa structural trend that hosts some of the most productive high-grade cobalt-copper deposits in the Katanga Copperbelt. This corridor encloses the Kisanfu, Mutanda, Deziwa and Tilwezembe deposits that contain resources or have produced large volumes of ore exceeding 1% Co.

Evidence of artisanal mining has been confirmed by field geologists.

The copper-cobalt-bearing mineralization of Kolwezi Klippe is generally located in the middle Roan formations called the Mining Subgroup (R2). The state mining company Gecamines has confirmed the existence of 3 R2 fragments within the footprint of the Kamukongo licence. Red Rock are engaging with their partners to obtain further historical data.

To the east of Kamukongo, the Managem Cu/Co 2016 discovery is due to commence production in 2019 at 20kt Cu per annum initially. Resources at Pumpi and Kamassani are 20.8mt @ 1.31% Cu & 0.48% Co.

Although Kamukongo does not have the A list neighbours of Musonoi, it still boasts some majors in close proximity. Due west is CHEMAF (Shalina Resources – Indian) who have over 72 licences in the Congo. Due south east is Wanbao a Chinese company exploring for Copper/Cobalt and west and adjoining is SA Mining DRC.

Kasombo South

Covering an area of approximately 2km2 the Kasombo South licence PE2360 is approximatley 5km west of Lubumbushi.

The Kasombo South licence lies at the mid-eastern part of the Kasonta anticline which hosts some well-known high-grade copper-cobalt deposits that constitute the Kasombo project. These mines have produced considerable volumes of both copper and cobalt in the past.

Notable neighbours to the west are Fe Limited an ASX listed explorer. Fe Limited licence PE4886 hosts the Kasombo 5,6 & 7 mineralized deposits with intersections of 25m @ 3.5% Cu. XRF values indicate numerous high grade areas of mineralisation at Kasombo 7, with grades of up to 38.26% Co.

Kasombo South has not been subject to significant exploration activities the past and no artisanal activities have been reported in the licence. Red Rock intends to undertake a detailed geochemical sampling and geological mapping programme to delineate any highly prospective targets.

 

 

Highlights

  • RRR DRC - VUP JV Interests
    • 3 x Copper/Cobalt Licenses
  • Musonoi License - PE4962
    • 1.7km2 - 3km West of Kolweizi
    • World Class Copper/Cobalt Postcode
    • 80 Years of Mining History in the Area
    • Modern Infrastructure
    • Covers Part of the Musonoi Super Deposit
    • Historic Grades of 3-5% Copper and 0.5-1% Cobalt
    • Estimated 400,000 tons of Copper + 25,000 tons of Cobalt in License Area
  • Kamukongo License - PE663
    • 5km2 - Lies at Western End of Kansuki/Kamikongwa Structural Trend
    • Significant Evidence of Artisanal Activity
    • Regional Grades Reported of 1.31% Copper and .48% Cobalt
    • Majors Active in Close Proximity
  • Kasombo South License - PE2360
    • 2km2 - 5km West of Lubumbushi
    • Lies at Mid-Eastern Part of Kasonta Anticline - Hosting Well Known Deposits
    • Neighboring Companies Report Intersections - 25@3.5% Copper