Anvil Mining Ltd. is releasing a company update prior to the release of its March, 2006, quarterly financial report, which is expected to be issued in Stockwatch on May 11, 2006.
Kinsevere project (70 per cent)
Anvil is pleased to announce that a recently completed scoping study on the Kinsevere project in the Democratic Republic of Congo (DRC) concluded that the project is robust based on the resources reported in the National Instrument 43-101 technical report completed in December, 2005. The study indicates that the preferred development option for Kinsevere is an open-pit mining operation, combined with a heavy media separation (HMS) plant, producing an oxide-copper concentrate that would be processed through an on-site custom-built electric arc furnace using power from the local hydroelectric grid. This processing route would produce "black copper" ingots assaying between 85 per cent to 95 per cent copper. The HMS plant would subsequently be upgraded to a solvent extraction and electrowinning (SX-EW) plant. A feasibility study on the SX-EW upgrade will be completed during the second quarter of 2006, with a commitment to proceed with the SX-EW development expected to be made in the third quarter of 2006.
Kapulo joint venture
Anvil has entered into an agreement with Mawson West Ltd. (Mawson West), listed on the Australian Stock Exchange, for Mawson West to begin earning into Anvil's Kapulo project tenements, which are located 130 kilometres northeast of the company's Dikulushi mine.
The agreement with Mawson West will enable an exploration program to be carried out much sooner than was contemplated by Anvil given its considerable evaluation and development commitments on the Kinsevere and Mutoshi projects in the main part of the DRC copperbelt.
Mawson West can earn up to a 65-per-cent interest following the expenditure of $4-million (U.S.) over four years.
Agreement signed with Pact Inc.
Anvil has signed an agreement with Pact, a Washington-based non-government organization, for the design and implementation of the company's social and community development programs in the vicinity of the company's Dikulushi mine. Pact is well established in the Katanga province of the DRC, and will add considerable professional capability to the company's efforts to create meaningful and sustainable benefits for the local communities in the region of the company's operations.
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