BTR has Joint Venture with BHP on iron ore/coppet/gold deposits...

BTR has Joint Venture with BHP on iron ore/coppet/gold deposits in Mumbwa-Zambia, with possibility of takeover by BHP

Blackthorn Resources

Blackthorn Resources Limited [formerly AIM Resources Limited] (ASX: BTR) is an Australian-based resources company with a diverse portfolio of African assets including zinc, gold, copper, Nickel and Platinum Group Metals. Blackthorn Resources endeavor to create long-term wealth for its shareholders and stakeholders through the successful development of its four key assets which include:

the Perkoa Zinc project in Burkina Faso,
Burkina Faso Gold exploration project,
the Mumbwa iron oxide copper-gold Joint Venture with BHP Billiton, and
the Mokopane nickel/platinum Project.


In Burkina Faso, the Perkoa Zinc mine developnment was suspended in mid-2008 and the Project placed under Care and Maintenance due to falling global economic conditions and the rapid decline in spot zinc price. Upon the recommencement of construction is the project will continue to progress towards becoming the first emerging zinc mine in West Africa. Zinc mineralisation is hosted by a Volcanic Massive Sulphide orebody situated within the Boromo Greenstone Belt. The Perkoa orebody contains a proved and probable reserves of 6.3Mt at 14.5% zinc as reported using the guidelines of the JORC code 2004

Burkina Faso Gold exploration activities are conducted over 7 exploration permits covering 1,134 sq km which are prospective for gold and base metals (zinc, copper and lead). The permit areas are situated within the Boromo Greenstone Belt which trends from Mali in the north, through Burkina Faso and into Ghana in the south. The Boromo Greenstone Belt is host to a number of gold projects and also the Perkoa Zinc project.

In Zambia, Blackthorn Resources is earning an interest in the Mumbwa iron oxide copper-gold project from BHP Billiton. The Company’s exploration strategy is modeled on an iron oxide copper-gold (IOCG) style of mineralisation similar to Olympic Dam in South Australia and Ernest Henry in Queensland. Blackthorn Resources currently has a 60% vested interrest in the Project, following the sucessful completion of agreed joint venture milestones, which were achieved through a phased exploration drilling campaign.

In the Republic of South Africa, Blackthorn Resources holds new order prospecting rights over the Mokopane nickel-platinum project situated on the northern limb of the Bushveld Complex. Mokopane has an inferred resource estimated to be 39.7 million tonnes at 0.146% nickel, 0.085% copper, 0.22 g/t platinum and 0.33g/t palladium as reported using the guidelines of the JORC code 2004.