Oct 17 2014
Handa Copper Corporation is pleased to provide this update on its exploration activities in the Republic of Congo (ROC). Often referred to as "Congo Brazzaville", the ROC is a former French colony that became independent in 1960 and first elected a democratic government in 1992. It shares a border with the Democratic Republic of the Congo to the east.
Valuable Database Discovered in Archival Review
An archival review undertaken by Handa Copper at the Bureau de Recherches Géologiques et Minières (BRGM) in Paris has not only validated Handa Copper's geological model for its licenses in the ROC but has provided the impetus for a rapid and cost effective identification of high priority drill targets.
The archival review revealed the existence of almost 10,000 stream sediment and soil samples taken previously on the Banda Kayes license which would have been extremely expensive to duplicate today. Incredibly, none of these results appear to have been followed up after the BRGM closed its offices in the ROC. In line with Handa Copper's own geological model for its licenses, the BRGM work specifically targeted Copperbelt-style copper-lead mineralization masked by weathering and vegetation cover.
Exploration Program
Exploration work is presently being conducted on two targets in the Maboudou license area where malachite - most likely from pre-colonial smelting activities - has been identified in soils. According to Handa Copper's President, Jon Stacey, "Handa is now extending its investigations to the east as the most likely proximal source for ore that fed these pre-colonial smelters."
In addition, BRGM has identified 17 stream-geochemical targets within the Company's Banda Kayes license area where preliminary sampling by Handa so far has confirmed highly anomalous results over seven BRGM targets for follow-up work.
Geological Setting Reminiscent of Major Copper Belts
Handa Copper's licenses in the ROC contain multiple showings and many old indigenous smelting operations. The geological setting in which these copper showings occur is reminiscent of major copper belts throughout the African Continent that host large, high grade copper deposits. In fact, each of the 30 highest grade deposits in the Central African Copperbelt (historical included) aggregated close to three million tonnes of contained copper metal at a weighted average grade of 3% Cu.
Regional Infrastructure
Infrastructure - including road, rail, air access, port facilities, communications systems and hydro-electric power are concentrated in the southern ROC, generally in close proximity to the company's exploration licenses. In terms of industry-supportive infrastructure, this region of the ROC ranks among the best on the African continent.
Investment Climate in ROC
Until recently, most foreign investment in the ROC has been directed towards the nation's offshore oil potential which has made the country the fifth largest oil-producer in sub-Saharan Africa. In recent years the government of the ROC has sought to diversify its economy by encouraging investment in other resource sectors including mining.
A recent study by the International Monetary Fund (IMF) on the ROC states: "The economy is projected to expand by about 6 percent per annum between 2014 and 2019, as new oil fields come on stream and an ambitious public investment program is implemented to diversify the economy and make growth more inclusive."
Source: http://www.handacopper.com/