Mukuba Resources Limited

Mukuba Resources Limited

June 16, 2009 10:40 ET

Mukuba Commences 2009 Exploration Program

TORONTO, ONTARIO--(Marketwire - June 16, 2009) - Mukuba Resources Limited ("Mukuba") is pleased to announce that its 2009 exploration program in Zambia is now under way. The exploration will include RC drilling to test numerous VTEM/Soil anomalies that were delineated from the 2008 exploration program in addition to further geological mapping and soil sampling programs.

Trevor Richardson, President and Chief Executive Officer of Mukuba stated, "We are enthusiastic to start testing the numerous targets defined during the 2008 exploration program. With an excellent technical team and extensive experience in copper belt exploration in Zambia and throughout Africa, we are well positioned to execute a thorough 2009 exploration program. We look forward to providing updates as exploration progresses on this exciting program."

About the Company

The business of Mukuba consists of the exploration and development of two early-stage exploration projects (the Northcore Project and the Lunga Project) in the highly prospective Central African Copperbelt region of Central Zambia:

- The Northcore Project area encompasses approximately 4,562 km2 of geologically prospective ground in the Domes Region of the eastern limb of the Zambian Copperbelt. The Northcore Project is licensed for copper and cobalt. Geological mapping, soil sampling and investigation of the historical showings as well as ground-truthing of the geophysical survey results have confirmed the historical geological anomalies, and identified new anomalies. The 2009 exploration program includes drilling several of these anomalies.

- The Lunga Project area adjoins the south-west margin of the Northcore Project area, and is licensed for copper, cobalt, and other base metals. The property encompasses 480 km2 and contains numerous geochemically delineated copper and zinc anomalies along 10 kilometres of strike that also extends into the Northcore Project area. The Company can earn an 80% interest in the Lunga Project area through a farm-in agreement by completing a preliminary feasibility study.

The Central African Copperbelt is the world's largest and highest-grade sediment hosted stratiform copper province and includes both the Zambian Copperbelt and the Congolese Copperbelt which is located immediately to the north in the Democratic Republic of Congo. Over 95% of the known Zambian copper reserves occur in rocks of the Lower Roan Group, or in the adjacent basement complex. The Northcore Project area contains roughly 1,300 km2 of the Lower Roan Group.

Forward-looking Information

Securities regulators encourage companies to disclose forward-looking information to help investors understand a company's future prospects. This press release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.

Contact Information

  • Mukuba Resources Limited
    Trevor Richardson
    President and Chief Executive Officer
    (416) 918-2242