Resource Mining (ASX:RMI) rockets on Tanzanian copper-gold reveal

Resource Mining (ASX:RMI) rockets on Tanzanian copper-gold reveal

March 12, 2024 Off By Jack Baker

Resource Mining Corporation shares more than doubled in price this morning after the company discovered nine distinct copper-in-soil anomalies with up to 13.58 per cent copper at its Tanzanian Mpanda project.

The explorer’s pXRF soil sampling campaign at Mpanda Copper-Gold Project came home with the vividly coloured rock collection from anomalies that all hold a strike length of more than two kilometres.

Assays further confirmed two anomalous copper-gold targets at Stalike and Mpanda Ndogo, with both following a northwest-southeast strike and east-west enrichment zones.

Rock samples from Stalike returned samples as strong as 13.58% Cu with 3.24g/t Au, 10.78% Cu with 1.41g/t Au, and 4.12% Cu with 0.02g/t Au.

Mpanda Ndogo’s prospectivity was likewise confirmed with significant coincidental anomalies across a 5km strike length.

Results are pending for the other seven assays, but RMC expects them to follow suit and validate the anomalies while providing more details on coincidental gold mineralisation.

Resource Mining Executive Chairman Asimwe Kabunga said the initial results were exciting and open up a valuable new opportunity within the company’s Tanzanian portfolio.

“Significantly these results not only provide confidence in the Cu soil and auger anomalies defined throughout all of the projects, but they also provide confirmation of Au mineralisation coincidental with the Cu anomalies, signalling a significant base and precious metals opportunity to create value for shareholders,” Kabunga said.

The Perth-based explorer acquired two large copper-gold exploration assets within a Tanzanian Ubendian Orogenic Belt well established for copper, gold, and nickel resources – territory an independent review has since confirmed as highly prospective.

Tanzania has long held a globally significant gold industry, and its mining sector is now in a heavy growth phase for critical commodities, with several government initiatives directed at improving the investment space for foreign and domestic entities.

And there are few foreign companies with stronger ties to The Serengeti, chaired by locally born Asimwe Kabunga who has established a large regional portfolio at the Resource Mining helm.

The company is confident it holds the potential to make “elephant” discoveries within its borders, and early results have little to dissuade.

Elephant deposits are rare super-large deposits found scattered across the world.

Resource Mining Corporation shares were up 2.1 cents or 131% to a 3.7-cent 3.5-month ceiling by lunchtime.

RMI Stalike Samples

RMC shares samples collected from its Stalike prospect at the Mpanda Copper-Gold Project in Tanzania

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