TORONTO--(BUSINESS WIRE)--Kinti Mining Limited, trading symbols KMLD.PK and A11.FRA, is pleased to report that it has prepared a drilling program for its Fimpimpa West tenement which is located 16 kilometers west of Chililabombwe and borders the eastern boundary of Konkola Copper Mine's (KCM) Fitwaola open pit in Zambia.
The results from a previous drill program were very encouraging, with high grade copper mineralization being intersected in two diamond drill holes. Hole FW1 intersected copper at 61 and 122 meters. The two veins have a total width of 21 metres which included 4 metres of copper grading 1.67% and 6 metres of copper grading 1.30%. Hole FW2 intersected copper at 43, 80 and 95 meters. The three veins have a total width of 13 metres which included 5 metres of copper grading 1.42%.
An independent mineral resource estimate for Fimpimpa West was completed by Mr. Stanley Chasauka and Mr. George Chilufya, geological consultants with extensive experience in Zambia. Assuming the continuity of the ore body, further drilling could confirm over 20 million metric tonnes of copper ore grading at 1%. At current commodity prices the value of the contained copper is approximately $900,000,000USD.
The three phase drill program will consist of 25 diamond drill holes, covering a depth of approximately 5,530 meters. The program will cost approximately $1,000,000USD. Kinti is currently focused on securing a strategic partner to assist in the development of this project.
Kinti is also pleased to announce it is in the process of filing a Form 211 to initiate quotations in the NQB "Pink Sheets®". By completing this form, Kinti is representing that it will satisfy all applicable requirements of Securities and Exchange Commission Rule 15c2-11.
About Kinti Mining Limited
Kinti Mining Limited, trading symbol (KMLD), (18.1 Million Shares Outstanding), is a mineral exploration company with an overriding focus on uncovering and assembling undervalued resource properties or companies. With such inventories it expects to build stakeholder wealth through the public markets, along with being able to offer, other public companies, properties on a wholesale basis in exchange for a combination of company stock and/or cash.
Some of the information included in this press release and other documents by Kinti Mining Limited (“KINTI”) may contain forward looking statements. The Company disclaims any obligation to update any forward-looking statement made herein.