SAR makes move on copper-cobalt prospect in Zaire

Junior South Atlantic Resources (SCQ-V) has received approval from the Zairean government to proceed with its attempt to bid on the Ruashi-Etoile copper-cobalt project.

The company will submit its final bid to the government through the state-owned mining company Gecamines.

The property lies in the Central African Copperbelt, which straddles the border between Zaire and Zambia.

South Atlantic estimates the property has potential for hosting 62.5 million tonnes grading 3.45% copper and 0.46% cobalt, and that it is amenable to open-pit mining and solvent extraction-electrowinning.

Copper-cobalt mineralization in the Copperbelt is hosted in upper Precambrian sedimentary shales, siltstones and quartzites consisting of disseminated chalcocite, chalcopyrite, bornite, malachite and carrolite (cobalt) in beds ranging from a few metres to tens of metres in thickness.

Meanwhile, in Sweden, South Atlantic has begun the second phase of due diligence to evaluate the acquisition of up to 15 gold, silver and zinc prospects, plus at least one diamond prospect.

And in Brazil, two clear octahedral microdiamonds were found in a 1.2-ton bulk sample of the Serrinha 1 kimberlite pipe from the Coromandel project area. South Atlantic has also stepped up exploration at the Sapucai gold project, 300 km northwest of Rio de Janeiro.