SMM7, March 6 -: Power Metal Resources said on Friday that after exploration, it had been confirmed that the Kisinka copper and cobalt project in the Democratic Republic of the Congo had higher-than-expected reserves, but the Xinguan epidemic slowed the construction of the project.
Power Metal Resources owns a 70 per cent stake in the project. The company said it confirmed that copper reserves exceeded expectations after pitting and mapping rock units and starting sample testing between February and the end of May.
The company said the blockade restrictions imposed to curb the spread of the new crown virus have slowed the progress of the project and may continue to slow down later. After receiving the test results from the mass spectrometry laboratory, we will start to work on the next step.
Paul Johnson, the company's chief executive, said: "the identification of copper anomalies in previous exploration has enabled us to move forward with confidence."
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