VDM Group Limited (ASX: VMG) has taken a further step towards its objective of developing a portfolio of high-quality mineral assets with the announcement of a maiden Mineral Resource Estimate (MRE) for the 55.25% owned Cachoeiras do Binga (CdB) Copper Project in Angola.
The MRE was undertaken by SRK Consulting China Ltd following a 5,691m drilling campaign during 2019 that complemented the 3,903m of previous drilling completed by the company in 2018.
The Maiden Mineral Resource Estimate (MRE) id 18.4 Mt @ 1.0% Cu for 183,845t of copper completed for VDM’s 55.25% owned CdB Project in Angola, comprising:
The CdB Project is located east of the regional capital and coastal city of Sumbe (airport and port) and approximately 385 km south of the Angolan capital city of Luanda.
It covers 3,854. Sq. km and is approximately 32km from East to West and 129km from North to South.
The exploration database used for the resource estimation consists of 134 diamond coreholes and seven trenches. A total of 1,658 intervals were sampled at the deposit. All the available data was input into a Geovia Surpac database for the estimation procedure.
Nine mineralised bodies have been delineated in the CdB deposit by trenching and drilling exploration. The mineralised bodies are hosted in the sandstone and siltstone strata of Early Cretaceous Cuvo Formation’s upper section and are characterised by gently dipping stratiform and/or tabular shapes.
The mineral resource, which remains open, is contained within less than one per cent of the project area and less than 5% of the project area has been actively explored to date.