Freeport Indonesia to process 400,000t of copper concentrate at new smelter
Earlier this month, Freeport obtained an export permit for the rest of the year from the government.
Transition Metals (TSXV: XTM) reported encouraging levels of copper mineralization from a sampling program of historical showings at its Wollaston copper project in Saskatchewan, Canada.
In a press release, the company said that sampling of several historic bedrock copper and zinc occurrences on the property resulted in peak Cu and Zn values of 0.47% at the Fannon Lake showing and 0.43% Cu at the Flag Lake showing 1.5 kilometres north of Fannon; 0.44% Cu at the Tosi showing located 25 kilometres southwest of Fannon Lake; and 0.93% Zn from the Fable Lake showing located 5 kilometres southwest of Tosi.
Wollaston is located 60 kilometres southwest of Rio Tinto Exploration Canada and Forum Energy Metal’s Janice Lake project
“This completed programme successfully located and sampled the first four of nine known historical occurrences returning Cu values comparable to those being reported by Forum Energy Metals and Rio Tinto 60 kilometres to the northeast at Janice Lake,” Transition’s CEO and president, Scott McLean, said in the media brief.
“The presence of copper mineralization, in this underexplored part of what we consider to be an emerging sedimentary-hosted copper district, is very encouraging.”
The 150-square-kilometre Wollaston project is located approximately 60 kilometres southwest of Rio Tinto Exploration Canada and Forum Energy Metal’s Janice Lake project in north-central Saskatchewan. The property covers >50-kilometre strike of favourable geology starting 40 kilometres southwest along trend from Janice Lake.
