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September 30, 2007
High-purity blister copper as well as cobalt matte was produced. Progress at the copper smelting operation has been hampered by the reduced availability of copper oxide feed of a quality suitable for the electric-arc furnaces. Steps are being taken to significantly reduce the dependence on oxide ores and allow the processing of both sulphide and oxide ores.
October 16, 2006
ACA Howe Limited (consulting geologists) were engaged to independently evaluate the geological potential of these leases. The results were very encouraging. In addition, SGS Lakefield assayed two representative 20kg high grade and low grade samples which returned average grades of 7.52g/t Au, 15.88g/t Ag and 43.58% Cu, and 0.4g/t Au, 6.27g/t Ag and 10.96% Cu, respectively. The projects lend themselves to low cost concentration methodologies and will provide feedstock for initial smelting operation using proven electric arc furnace technology intended to be constructed at Ndola, Zambia with a Zambian partner holding 10% of the operation.
September 30, 2006
The project to develop an initial 1 MVA capacity electric arc furnace operation was on track and on budget and the Company anticipates its first copper pour in February 2007.