Project Summary
Advanced copper exploration project on a large Copper-Gold-Silver-Molybdenum resource.
History
Extensive exploration conducted by Anglo American.
Location
[map]
Ownership
51 %
Resource
Drill-indicated resource of over 10 million tons copper with associated silver, gold and molybdenum.
It is considered that it is part of a much larger porphyry system with a potential to host in excess of 50 million tons.
Exploration
- 1997 - 2000: 25 drillholes, trenching, metallurgical work and mineralogical evaluation by Anglo American
- 2021: Remote sensing, geological litho-stuctural mapping, soil and rock sampling to provide a target resource statement by Kweneg Group.
Opencast mining planned Optimal production rate to be determined as part of feasibility study.
Processing
Metallurgical testwork confirmed ore can be beneficiated by flotation techniques. Targeting production of copper concentrate in Phase 1.
Market:
Planned sale of copper concentrate and copper cathode to international commodity traders and copper end users.
Logistics
The Project is located 45km North of Harare and can be accessed via the main Harare-Bindura Road.
Development stage:
- Exploration in progress
- Prefeasibility study to commence 2022
Implementation
- Exploration: Q4 2021 - Q3 2022
- Pre - Feasibility study: Q4 2022
- Mining Licence: Q4 2022
- Financial closure: Q3 2023
- Construction: Q4 2023
- Operations: 2024
African Strategic Metals PLC intents to develop the Lucky Leap Year Project from the stages of exploration, feasibility, and development to production in a structured, proven manner along the mineral asset value curve to produce a significant copper project for the green economy.
The Project is at an exploration stage and can capitalize on the past exploration activities for fast-tracked development.