zamibian copper next to btr, page-10

Interesting read, they're really working the BTR angle

Be watching to see where it goes tomorrow as this will dictate next week


http://www.proactiveinvestors.com.au/companies/news/26464/chrysalis-resources-shares-soar-58-on-green-light-for-zambian-copper-acreage-acquisition-26464.html

Chrysalis Resources shares soar 58% on green light for Zambian copper acreage acquisition
Thursday, March 15, 2012 by Bevis Yeo
Chrysalis Resources (ASX: CYS) were cheered on by investors after announcing that it was moving ahead with the acquisition of copper exploration acreage in Zambia.

This comes after the company reached an out of court settlement with the Zambian Government.

The acquisition of 100% in Zambian Copper and 99.9% of Sedgwick Resources will hand Chrysalis the Central Zambian Mwongo and Bulala Hills projects that are within 15 kilometres and 50 kilometres respectively of Blackthorn Resources (ASX: BTR) Mumbawa project.

It also covers the Northern Projects of Shikila and Kabwima North and South that are located close to the Lumwana, Kansanshi and Chingola projects.

The company said it had being encouraged by the Blackthorn’s recent drilling results near the central tenements.

Blackthorn had last month made a stunning intersection of 231 metres at 4.5% copper from 201 metres at Mumbwa, its best intersection to date at the project.

Included in this intersection were the high grade lengths of; 17 metres at 14.88% copper from 211 metres; 10 metres at 10.06% copper from 265 metres; and 10 metres at 9.11% copper from 283 metres.

Chrysalis’ planned exploration activity in the central Zambian tenements along with the better understood northern Lufilian Arc will begin as soon as possible to maximise the dry season.

This includes airborne and ground geophysics, reverse circulation drilling and targeted diamond drilling and satellite image analysis.

As part of the settlement with the Zambian government, Chrysalis is required to spend A$7 million on exploration expenditure on its licence over the next 2 years.

Shares in Chrysalis closed at A$0.19 today, up 58.33%, with more than 800,000 shares changing hands.