Canada’s Bankers Cobalt identifies new targets at projects in DRC

13 April 2018 (Last Updated April 13th, 2018 11:38)

Canadian exploration firm Bankers Cobalt has identified new cobalt and copper targets within the Comipad-Comima and Kankutu projects in the Democratic Republic of Congo (DRC) following a recent trenching programme.

Canadian exploration firm Bankers Cobalt has identified new cobalt and copper targets within the Comipad-Comima and Kankutu projects in the Democratic Republic of Congo (DRC) following a recent trenching programme.

The company has reported the discovery of a 3km strike of mine formation (Roan 1-2) series rocks at the Kankutu project, which are host to the nearby Kimpe mine located approximately 3.5km from Kankutu.

In addition, Bankers Cobalt outlined a potential extension onto the concession of the structure that controls the Kimpe mine based on a ground magnetics interpretation of Kankutu.

“Our team has found highly encouraging cobalt and copper in soil samples or trenches on both the Comipad-Comima and Kankutu concessions.”

The development follows the company’s previous discovery of elevated cobalt and copper in soil sampling at the Kabolela South project in the DRC.

Bankers Cobalt president and CEO Stephen Barley said: “Our team has found highly encouraging cobalt and copper in soil samples or trenches on both the Comipad-Comima and Kankutu concessions.”

Kankutu spans an area of 14km² and comprises four contiguous concessions on the border of the Kimpe mine.

Bankers Cobalt DRC exploration manager Adam Anderson said: “At Comipad-Comima, the team has set up a camp, created a 17km vehicular access and completed soil sampling and infill soil sampling to define a 400m-long plus 200 parts per million (ppm) copper in soil anomaly and an adjacent 150m by 50m-long plus 200ppm copper in soil anomaly.

“The copper in soil anomalies are interesting as they have coincident associated multi-element anomalies.

“Both are associated with an EW trending tectonic breccia which appears to be hydrothermally altered.”

The company plans to complete a trenching and geochemical drilling programme at Kankutu before conducting an analysis of the results.

The planned work at the project also includes RC drilling on various identified targets.