Mintek recently completed a preliminary metallurgical testwork campaign on drill core from the Big Zinc Zone. Comminution testwork indicated that the material is soft and therefore easy to crush and mill; flotation testwork indicated that the material was easily upgradable to a saleable concentrate composition at high zinc recoveries.
Democratic Republic of Congo
During Q2 2013, Ivanplats' Regional Exploration Group commenced field geology and drilling operations for the 2013 season. More than 15 prospects are at drill stage and will be prioritized for drilling this year. Highlights include: (i) Nzilo, which hosts broad zones of Kamoa-style copper mineralization and remains untested along strike; (ii) Kengere, which has not been evaluated since 2006 when several holes intersected high-grade Kipushi-style zinc mineralization; and (iii) Mulomba East, where 2012 drilling intersected multiple zones of copper mineralization associated with carbonate veins and albite alteration, with strong analogies to the Kansanshi Mine in northern Zambia.
Ivanplats holds two exploration permits within relatively unexplored greenstone belts in Gabon. These permits cover untested gold-in-soil anomalies adjacent to extensive placer gold workings. During Q2 2013, Ivanplats made logistical preparations for a 2,000-metre drilling program focused on the Ndangui prospect. A drilling and logistics camp was established and stocked with the necessary fuel, drilling equipment and supplies in anticipation of the drilling that began recently. The initial target area is focused on a zone of co-incidental gold-in-soil anomalism, peak gold auger drilling results and encouraging assay results from nearby trenches.
Ivanplats conducting strategic process for early lock-up release transaction
Ivanplats has obtained regulatory approval for a novel transaction structure that the company contemplates would simultaneously provide locked up shareholders with a right to release and sale of locked up shares to a designated purchaser; would provide additional funding for the ongoing project development of the company and would secure a strategic investor who would help to advance the overall development of the company's key projects. The company is in the process of discussion and negotiation with potential third party participants in the transaction, with any such transaction subject to finalization of definitive commercial terms with one or more of those third parties.
Management and Board changes
Ivanplats added to its mine-building team with the hiring of Brock Gill as Managing Director of the Kamoa Project and Vice President of DRC Operations, effective June 1, 2013. Mr. Gill formerly was Deputy Director of Mongolia-based Oyu Tolgoi LLC; he worked closely with Steve Garcia, who now is Ivanplats' Chief Development Officer, for seven years overseeing construction of the Oyu Tolgoi copper-gold-silver mine. As Managing Director, Mr. Gill will oversee all aspects of the Kamoa Project and prepare for a sustainable operation beyond development. As Vice President of DRC Operations, he will coordinate Ivanplats' activities in the DRC, including a shared-services company and the Kamoa and Kipushi Projects, as well as regional exploration.
South African business leader Cyril Ramaphosa resigned from Ivanplats' Board of Directors in May after more than a decade of service. This is in line with his decision to review his business interests following his election as Deputy President of South Africa's ruling party, the African National Congress, in December 2012.
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