Power Metal Resources, the company involved in the exploration and development of copper announced that its exploration license for Kisinka copper-cobalt project has been extended to 25 years. Power Metal owns a 70pc stake in Kisinka copper-cobalt projected in the Democratic Republic of Congo and initially had an exploration license for 7 years.
This project is approximately 30km east of the regional capital of Lubumbashi in the southern part of the Katangan area known as the copper belt of Congo. In 2020, the company announced the presence of high copper and cobalt reserves after completing the pitting and mapping exploration program.
The geological model of this reserve has similarities to the Congolese Copperbelt. The survey pointed out two more northwest magnetic high features in the southern part of the surveyed area.
The company added that due to the size of the mineralized area in Kisinka, it becomes an important copper-cobalt project.
Power Metal is headquartered in London and involved in base metal exploration and development.