Blackthorn Resources Limited (ASX:BTR) is set to re-mobilise drill rigs and conduct further resource definition at its Kitumba deposit area in Zambia.
Drilling will be focused on increasing geological confidence and converting previously indicated resource to the measured category, with a targeted depth of 5,000 metres.
Blackthorn has made provision for drilling totaling $4.25 million for the remainder of the current calendar year.
A previously announced pre feasibility stufy for the Kitumba mineral resource is progressing well according to Blackthorn and is scheduled for completion by the end of July.
A more advanced definitive study will commence later this year and into 2014, pending the outcomes of the current PFS.
Blackthorn Resources reported a net loss of $2.3 million in the first half of fiscal 2013.
BTR Price at posting:
61.0¢ Sentiment: None Disclosure: Held
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