A mineral exploration company based in Canada, Telferscot Resources has completed the acquisition process of 1830953 Ontario and has gained the right to its exploration projects located in Democratic Republic of Congo’s Kolwezi district.
Telferscot will begin expanding its exploration activities to the projects in the Democratic Republic of Congo (DRC). The Kolwezi region is located in the Katanga province, which is located in the Central African Copper Belt. The belt is the largest concentration of cobalt and copper in the world.
The first project lies east of the Kolwezi city and covers around 80 km2. It is roughly 25 km east of the recently discovered Kamoa deposit.
The Chief Executive Officer of Telferscot Resources, James Garcelon stated that the company’s decision to invest in the region lies with the possibility of discovering several million tonnes of cobalt-copper deposit in the Telferscot Kolwezi region. Garcelon added that the company will actively pursue the opportunities available to them in order to amass such lucrative exploration portfolios.
The initial exploration work in the region is being combined with airborne radiometric and magnetic survey with samples of termite mound and soil collected in the region where both the historical and geophysical data point towards features of interest at a shallow depth. Initial drilling will begin during the third quarter of 2011.
Source: Telferscot Resources