DRC high grade copper and silver resource estimate lifted

An increase in known high-grade copper deposits has been unveiled in the Democratic Republic of Congo’s Katanga Province where an updated Mineral Reources Estimate has revealed a 31 percent increase in mineralisation.

TSX and AVM-quoted Anvil Mining Limited, headquartered in Australia, said Wednesday that its latest resource update is based on a revised geological interpretation and assay results from a deep diamond drilling programme, which targeted the Dikulushi copper-silver mine’s ore body between 300 and 400 metres below the surface that was completed earlier this year.

A substantial increase was reported in all resource categories with a 31 percent increase in contained copper metal for the Measured and Indicated resource categories, and a 114 percent increase for the Inferred resource category, compared to the 2005 year end estimate, the mining company said. Measured reserves at Dikulushi are now put at 410,000 tonnes at a grade of 9.1% copper and 288 grams per tonne silver, while the sum of measured and Indicated reserves has risen to 1.06 million tonnes grading 8.3% copper and 224 grammes per tonne silver for an overall metals content of 88,400 tonnes of copper and 7.64 million ounces of silver. There is an additional inferred resource of 1.38 million tonnes grading 5.8% copper and 141 grams per tonne silver.

“The deep drilling program has demonstrated that the Dikulushi deposit extends to at least 400 metres below surface, and there is evidence to indicate that further potential exists in eastward plunging high-grade shoots. This potential will be tested with a new drilling program that has just commenced, as will a number of geochemical targets that occur within 5 kilometres of the mine,” Nick Franey, Anvil’s vice-President: Exploration. ”In addition, a 30,000 line kilometre regional magnetic and radiometric survey is to be flown by the end of 2006, to assist in the definition of new exploration targets.”

Anvil says the aim of the drilling programmes was to extend the resource base from 300 metres to 400 metres below the surface. It says this was successfully achieved, with the deepest significant intercept being at approximately 380 metres below the surface.

11 diamond holes were completed during the programme for a total of 4,410 metres. At the end of the programmes, the geology of the Dikulushi deposit was reviewed and a revised interpretation was completed prior to completing a new Mineral Resource Estimate.

”This review has demonstrated that several of the earlier deep drill holes were stopped prematurely, before intersecting the main Footwall Zone orebody, and a follow-up drill programme to deepen the relevant holes is currently underway,” Anvil said in a statement.
Anvil currently operates a small open pit mining operation at Dikulushi and is expanding underground. Anvil’s estimated output for the current year is 36,500 tonnes of copper and 1.8 million ounces silver and for 2007 estimated output is 50,000 tonnes of copper and 1.8 million ounces silver with the onset of underground mining at Dikulushi. An update may be given with the company’s third quarter results due out tomorrow.