licences, page-23

this was all announced back in June 2011

Blackthorn Resources extends exploration footprint near Mumbwa IOCG Project in Zambia
Wednesday, June 22, 2011
Blackthorn Resources extends exploration footprint near Mumbwa IOCG Project in Zambia

Blackthorn Resources (ASX: BTR) has been granted a 100% holding of a strategically important large-scale prospecting licence covering 200 square kilometres in the Mumbwa District, Central Province in Zambia.

This tenement grant will allow the company to grow its exploration activities in Zambia and provides further opportunity for unearthing value in this highly prospective area.

The license was granted to subsidiary Blackthorn Resources (Zambia) Ltd over the “Masafwa” prospecting area which is situated adjacent to the Mumbwa Iron Oxide Copper Gold (IOCG) Project area.

The ground was previously held by BHP Billiton (ASX: BHP) on behalf the Mumbwa JV, prior to being relinquished as part of the licence renewal process in 2009.

Blackthorn is currently designing a detailed work program to continue exploration at Mumbwa and recently recruited the experienced Tom Whiting, the former head of exploration for BHP, to assist with Phase 5 at the project.

Scott Lowe, managing director, said "we are making very good progress with the design of an exploration program at Mumbwa during this transition period as we manage the hand over from BHP Billiton to Blackthorn Resources.

"Once the details of the exploration program are finalised, we will advise the market and set to work fast tracking operations on the ground.”

Blackthorn Resources (Zambia) Ltd previously applied to the Ministry of Mines and Minerals Development for vacant ground following relinquishment by JV partner BHP.

BHP recently advised of its intention to withdraw from the Mumbwa JV. Upon its withdrawal, BHP Billiton will be entitled to a 2% production royalty from any future mining at Mumbwa. The Mumbwa large-scale prospecting licence is currently held by BHP on behalf of the Mumbwa JV.

The companies are working together to renew the Mumbwa prospecting licence for its third exploration term, prior to transferring 100% ownership of the licence to Blackthorn Resources (Zambia) Ltd.