Next Investors logo grey

IRG receives environmental approval for copper exploration at Kalengwa

Published 26-SEP-2014 06:34 A.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Integrated Resources Group (ASX: IRG) has secured necessary environmental and exploration approvals for exploration on its Kalengwa copper projects in Zambia.

IRG has approval for exploration on three of the Kalengwa permits, including the flagship Kalengwa South permit, along with two of the three permits of the Kalengwa East project.

Due to time constraints, the Zambian Environment Management Agency (ZEMA) was not able to consider one of the Kalengwa East permits. Environmental approval for this permit is expected to be received following the next meeting of the ZEMA board at the end of September.

This delay will not impact on IRG’s planned exploration program at Kalengwa East.

IRG’s CEO Mike Edwards commented:

“This is a critical milestone in IRG’s plans to become a major copper focused explorer in Zambia. The granting of the EPB’s allows IRG unrestricted exploration rights for the life of the permits”.

Exploration Program at Kalengwa South

Re-logging of historical drill cores and a desktop study of all historical exploration work at Kalengwa South has identified four areas which will be the focus of IRG’s exploration efforts.

Exploration will focus on refining drill targets and will comprise a geophysical survey, soil sampling and mapping over key areas.

Desk top studies and analysis of historical results over the past three months has dramatically increased IRG’s understanding of the Kalengwa South project and the significance and context of these historical results.

It is clear that the initial exploration focus needs to be on locating the source of the historical soil and shallow drilling anomalies in order to firm up drill targets.

Notably, it has become clear that the anomalies tested by previous drilling were derived from transported soils which may be some lateral distance from the source structures.

While results were strong, with a best intercept of 3.2m at 7.3% copper and 6 g/t gold, it appears that the primary targets have not yet been tested.

Soil sampling will be carried out at 1,000m by 500m line spacing and will target all four prospect areas at Kalengwa South.

In conjunction with the soils program and concurrent geological mapping, the company plans to contract airborne magnetics and radiometrics over the entire Kalengwa South permit area. These programs are planned to commence in October and to be completed before the end of November.

Exploration work will then focus on defining targets for drilling following the end of the wet season early in the New Year.

IRG plan to provide regular updates to the market as this maiden exploration program at Kalengwa progresses.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.