Redcliffe Resources expands footprint in Tanzania, up to 14%...

Redcliffe Resources expands footprint in Tanzania, up to 14% copper.

Analysis of rock chip sampling by Redcliffe from within the general area of the mines returned grades of up to 14% copper.

Importantly, the new interests include areas within or adjacent to current mining activity, previously secured by Tanzanian nationals.

Redcliffe is progressively securing option agreements to undertake exploration on those areas for a small annual fee, whilst providing for future acquisition of at its election.

Owners of the existing mines have advised Redcliffe that 622 tonnes of ore at 22% copper was produced over the preceding 12 month period, with higher grade zones said to have graded up to 45% copper.

The company is continuing to sign up current license holders within an region of interest, while completing planning for
initial work programs.

Discussions for funding arrangements to support expanded exploration over the areas are also at an advanced stage.

Redcliffe, with its joint venture partner, previously secured 247 square kilometres of prospective ground, and has now lodged an application over an additional 107 square kilometres immediately north of its current Mesba copper project.

As part of ongoing project evaluation, Redcliffe intends to acquire a parcel of ore from the Mbesa mine for metallurgical test works at a much earlier stage than would normally be possible at such a project.

Redcliffe also controls the Redcliffe Gold Project in Western Australia, where peak assays of 15.74g/t gold were returned last year.

The company is capitalised at under $2 million, and its growing copper operations in Tanzania offer exciting potential upside.

http://www.proactiveinvestors.com.au/companies/news/53190/redcliffe-resources-expands-footprint-in-tanzania-up-to-14-copper-53190.html