REG - African Pioneer PLC - Central Africa Copperbelt – Exploration Update

African PioneerAnnouncement

24/10/2022 15:30

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RNS Number : 9184D  African Pioneer PLC  24 October 2022

24 October 2022

African Pioneer Plc

("African Pioneer" or "the Company")

Central Africa Copperbelt - Exploration Update

Drilling confirms Copper mineralisation on three new targets

 

African Pioneer plc ("APP" or the "Company") is pleased to report that copper
mineralisation has been encountered on three targets in shallow drilling being
undertaken by First Quantum Minerals Limited ("First Quantum Minerals") on
several licences operated under an Option Agreement with APP's 80% owned
subsidiary African Pioneer Zambia Ltd ("African Pioneer Zambia").

 

Highlights

 

·    The latest quarterly report from joint venture partner First Quantum
Minerals demonstrates very positive results including confirmation of copper
mineralisation in drill testing of three new targets.

 

·    Soil geochemical surveys have been carried out over seven targets.

 

·    Air-core drilling over 3 targets defined by soil geochemistry has
discovered copper in veins and disseminations at all the prospects tested to
date, with visual estimations ranging from trace up to 2% copper
mineralisation over some 75m in hole TUAC012.

 

·    Completion of an audio-magnetotelluric ("AMT") geophysical survey
totalling 54.9-line km has detected architectural patterns typically
associated with Congolese-type copper mineralisation presenting an exciting
new exploration concept in parallel with the existing targets.

 

·    A deep drillhole has commenced to examine the prognosis that the
geologic setting may be analogous to the 'Western Foreland' in the nearby DRC,
host to  Ivanhoe Mines Limited's recently commissioned Kamoa mine, reported
to become one of the largest copper mines in the World.

 

 

Colin Bird, Executive Chairman, commented: "We are hugely encouraged by the
content of the latest  joint venture quarterly report from First Quantum
Minerals that records the presence of a number of zones of copper
mineralisation at surface, apparently showing good continuity and supported by
shallow drilling, all of which takes the Project closer to a large copper
discovery. We are particularly encouraged by the geologic setting comparison
showing analogies to the Kamoa deposit, and we look forward to the results of
the current drill programme. As always, we derive a great deal of confidence
from the technical progress being made by First Quantum Minerals reflecting
the intellectual thought and direction being applied by its' exploration team
which is not unusual but always well-received".

 

 

Work Completed

 

Soil Sampling

Infill soil sampling was undertaken at seven targets across large-scale
exploration licences 27770- and 27771-HQ-LEL. Analysis was carried out
in-house by pXRF. The best results received were from the Eagle and Turaco
targets in 27770-HQ-LEL (Kasongo licence) and Kanyika and Chipopa in
27771-HQ-LEL (Luamata South licence). Geological mapping and rock sampling was
also carried out at all seven targets across both licences.

 

Receipt of XRF analyses for the bulk of the soil samples collected and
subsequent interpretation has generated several coherent zones of copper
anomalism over significant areas, up to 1,406ppm Cu.

 

At Turaco, significant Cu soil anomalism was encountered (> 250ppm Cu over
2.3 x 2.2km area, up to 1,406ppm Cu) adjacent to a major structure and
overlying an interpreted salt diapir in AMT.

 

At Eagle, significant soil Cu anomalism occurs (5 x 2km, up to 795ppm Cu)
adjacent to a major structure and overlying an interpreted salt diapir in AMT.

At Kanyika, a string of high tenor soil Cu anomalies was delineated (up to
983ppm Cu) associated with a major NE-trending structure.

At Chipopa, a strong soil Cu anomaly occurs straddling a major lithotectonic
boundary (>150ppm Cu over 2.3 x 1.3km, up to 639ppm Cu).

Air-Core Drilling

Air-core drilling of the Turaco, Eagle and Kanyika targets totalled 66 holes
for 4,028m. Such drilling is designed to provide first-pass information on the
shallow geology and mineralisation beneath sand and laterite cover rather than
a definitive target test.

 

At Turaco, copper mineralisation encountered included drillhole TUAC012 which
intersected carbonaceous shale from surface with 1% malachite, which
transitioned to a lighter grey talc-altered shale with dolomite-chalcopyrite
veins (up to 3% volume) after 29m depth. Dolomite-chalcopyrite veins continued
to end-of-hole (75m) and after 70m there is very fine-grained disseminated
chalcopyrite (up to 2%, 0.8% Cu on pXRF) within strongly silicified shale.

 

At Eagle, the most frequently encountered units were strongly altered shales,
breccias and mafic intrusives. Several drillholes intersected a vuggy
ferruginous silicified rock with Mn-oxide coating fractures which yielded
anomalous Cu and Ni on pXRF (>1,200ppm Cu). This strongly silicified rock
was not possible to drill through with air-core and was typically found
adjacent to altered breccias. Best visible mineralisation was from the West of
the target area in hole EAAC014, which intercepted a zone from 99-103m of
brecciated carbonaceous shale with dolomitic infill with up to 2% disseminated
chalcopyrite.

 

At Kanyika, in the NW of the area drilled, there is a doleritic sill overlain
by a micaceous sandstone and quartzite (possibly contact metamorphosed). The
dolerite often has patches of strong alteration and intense calcite-hematite
veining, sometimes associated with minor disseminated chalcopyrite and/or
pyrite (up to 0.5%).

 

Audio Magneto-Tellurics (AMT) Geophysical Survey

This survey was completed the across the 27770-HQ-LEL (Kasongo) and
27767-HQ-LEL (Ikatu) licences in June 2022. In total, 54.9 line km was
surveyed in 2022. Such deep penetrating surveys can provide important
information on the structural and stratigraphic framework of the region to
assist with target selection and evaluation.

AMT results from Kasongo suggest soil anomalies could be related to salt
diapirism adjacent to major structures (e.g. classic Congolese-style). AMT
lines within the Ikatu licence suggest that the Western Foreland domain
boundary passes through the licence. This domain in Zambia could offer
prospective stratigraphy like at the world-class Kamoa-Kakula deposit complex
in the DRC.

A 'framework' diamond drillhole was planned to test stratigraphy within the
Western Foreland domain at Ikatu to see if a conductive unit within the
sedimentary package here overlies basement at depth. Drilling commenced in
late September and planned depth is 700-1,000m.

 

Planned Work

Further planned work includes:

 

-      Completion of diamond drillhole on the Ikatu licence

-      Sampling of remaining soils on 27771-HQ-LEL

-      Mapping and soil sampling on Ikatu licence and 27768-HQ-LEL

-      Integration and interpretation of 2022 results

-      AC drilling of additional targets on the Kasongo and Luamata
licences post-rainy season

-      Follow up diamond drilling at Turaco and Eagle targets, also
post-rainy season

 

Background Information

First Quantum Minerals is one of the world's top 10 copper producers operating
in several countries including Zambia where it owns the Sentinel and Kansanshi
copper mines in Northwest Zambia and is known for its specialist technical
engineering construction and operational skills which have allowed it to
develop and successfully run complex mines and processing plants. Colin Bird,
the chairman of African Pioneer, was a founder of and floated Kiwara Plc in
around 2008 which discovered copper in northwest Zambia and was sold to First
Quantum Minerals in 2009 for U$260 million. First Quantum Minerals  then
developed the Kiwara Plc projects into the Sentinel mine which is the world's
14th largest copper mine.

 

The APP licence package covers part of the north-western extension of the
Zambian Copperbelt. The properties are located within 80-100km of First
Quantum Minerals Sentinel copper mine, one of the largest copper mines in
Africa, with current Measured and Indicated Resources 867.1Mt @ 0.44% Cu. It
also lies close to the Enterprise nickel deposit (37.7Mt @ 1.03% Ni), also
owned by First Quantum Minerals, which is under development.

 

The projects lie on the Lufilian Fold Belt in the Domes region of the Central
African Copperbelt, straddling the western boundary of the Kabompo Dome,
underlain principally by rocks of the Lower and Upper Roan, as well as the
stratigraphically higher Kundelungu and Nguba Groups. This geological package
is similar in age and rock type to that hosting the major copper deposits of
the Copperbelt, including Sentinel. Therefore, the licence areas are
considered to be strongly prospective for Copperbelt-type copper/cobalt and/or
nickel deposits. They are historically underexplored, representing the
westerly extension of the Copperbelt which has not been investigated in
detail, as previous work focussed primarily on the central part of the zone.

 

On the Luamata South licence (27771-HQ-LEL), African Pioneer acquired a
valuable exploration package arising from recent work by MMG Zambia Ltd
('MMG') which highlighted strong soil/airborne magnetic targets that were not
drill tested, as MMG pulled out of Zambia. The Kasongo licence (27770-HQ-LEL)
was recently held by Anglo American which also carried out airborne magnetic
surveying and reconnaissance soil sampling before exiting the Copperbelt. The
soil data highlighted several copper anomalies of considerable interest.

 

 

 African Pioneer Plc

+44 (0)20 7581 4477
 Colin Bird

 Executive Chairman
 Beaumont Cornish (Financial Adviser)    +44 (0) 020 7628 3396

Roland Cornish
 Novum Securities Limited (Broker)

 Jon Belliss                             +44 (0) 20 7399 9400

+44 (0)20 7581 4477

 

Beaumont Cornish (Financial Adviser)

Roland Cornish

+44 (0) 020 7628 3396

Novum Securities Limited (Broker)

Jon Belliss

 

 

+44 (0) 20 7399 9400

 

 

or visit  https://africanpioneerplc.com/ (https://africanpioneerplc.com/)

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR").

 

Qualified Person:

Technical information in this announcement has been reviewed by Edward (Ed)
Slowey, BSc, P.Geo, a technical adviser to African Pioneer Plc. Mr Slowey is a
graduate geologist with more than 40 years' relevant experience in mineral
exploration and mining, a founder member of the Institute of Geologists of
Ireland and is a Qualified Person under the AIM rules. Mr Slowey has reviewed
and approved this announcement.

 

Glossary

 "Air-core drilling"             A rotary drilling technique employing an annular drag bit in which cuttings
                                 and small core samples are recovered through the drill rods by compressed air

 "audio-magneto telluric (AMT)"  A geophysical technique that measures variations in the Earth's natural
                                 electromagnetic fields to detect electrical resistivity variations in the
                                 subsurface

 "breccia"                       Rock fragmented into angular components

 "calcite"                       Calcium carbonate, CaCO3

 "carbonaceous"                  Said of a sedimentary rock containing organic material

 "chalcopyrite"                  A copper-iron sulphide mineral, CuFeS(2), often found in copper ores

 "diapir"                        The movement of salt from deeper strata up through the overlying strata under
                                 lithostatic pressure

 "dolerite"                      A dark coloured fine- to medium-grained mafic intrusive rock composed of
                                 plagioclase feldspar and pyroxene

 "dolomite"                      Calcium-magnesium carbonate mineral, (CaMg)CO3, or a rock composed largely of
                                 the mineral dolomite

 "ferruginous"                   Containing the element iron

 "hematite"                      A mineral composed of ferric iron oxide

 "Indicated Mineral Resource"    That part of a Mineral Resource for which quantity, grade (or quality),
                                 densities, shape and physical characteristics are estimated with sufficient
                                 confidence to allow the application of Modifying Factors in sufficient detail
                                 to support mine planning and evaluation of the economic viability of the
                                 deposit. Geological evidence is derived from adequately detailed and reliable
                                 exploration, sampling and testing gathered through appropriate techniques from
                                 locations such as outcrops, trenches, pits, workings and drill holes, and is
                                 sufficient to assume geological and grade (or quality) continuity between
                                 points of observation where data and samples are gathered. (JORC 2012)

 "intrusive"                     A body of igneous rock that invades older rocks

 "laterite"                      A strongly leached iron and aluminium rich rock, formed at the surface by
                                 weathering in tropical conditions

 "lithotectonic"                 Relating to structurally controlled features within rock packages

 "mafic"                         Containing or relating to a group of dark-coloured minerals, composed chiefly
                                 of magnesium and iron, that occur in igneous rocks

 "malachite"                     A green copper carbonate mineral (Cu(2)(OH)(2)CO(3)) which forms by alteration
                                 of copper sulphide minerals

 "Measured Mineral Resource"     That part of a Mineral Resource for which quantity, grade (or quality),
                                 densities, shape, and physical characteristics are estimated with confidence
                                 sufficient to allow the application of Modifying Factors to support detailed
                                 mine planning and final evaluation of the economic viability of the deposit.
                                 Geological evidence is derived from detailed and reliable exploration,
                                 sampling and testing gathered through appropriate techniques from locations
                                 such as outcrops, trenches, pits, workings and drill holes, and is sufficient
                                 to confirm geological and grade (or quality) continuity between points of
                                 observation where data and samples are gathered (JORC 2012)

 "metamorphosed"                 A rock that has been altered by physical and chemical process involving heat,
                                 pressure and derived fluids

 "micaceous"                     Consisting of, containing or pertaining to the platy mineral mica

 "mineralisation"                The concentration of metals and their chemical compounds within a body of rock

 "ppm"                           Parts per million

 "pXRF"                          Hand-held instrument to determine the chemistry of a sample by measuring the
                                 fluorescent (or secondary) X-ray emitted from a sample when it is excited by a
                                 primary X-ray source

 "quartzite"                     A silica rich metamorphic rock formed from sandstone

 "salt diapir"                   The movement of salt from deeper strata up through the overlying strata under
                                 lithostatic pressure

 "sandstone"                     A sedimentary rock usually composed essentially of sand-sized quartz grains

 "shale"                         A fine-grained laminated sediment

 "silicified"                    An altered rock whereby original rock minerals are chemically replaced by
                                 various forms of silica which generally harden the rock

 "sill"                          A tabular sheet of intrusive rock which is parallel to the planar structure in
                                 the surrounding rock

 "stratigraphic"                 Pertaining to the inter-relationship of rocks in a geometric, spatial or time
                                 sense

 "talc"                          A soft platy mineral with the general formula Mg(6)Si(8)O(20)(OH)(4)

 

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