Resource Minerals International (ASX:RMI) is ramping up exploration at the Mpanda project in Tanzania after receiving positive results from a high-resolution magnetic survey. The survey over the Kabungu, Ibindi and Kabatini prospects confirmed a number of previously delineated anomalies at the project.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Preliminary interpretation indicates a geological terrain of multiple lithologies and abundant structural elements. Some of the new targets validate historical interpretations, reinforcing the accuracy of previous geological models while providing fresh insights into regional structural controls.
Others are based on newly developed concepts and represent potential opportunities for the Company to expand its exploration footprint.
Recent rock chip sampling of artisanal workings and a program of RC drilling at Mpanda also identified a mineralising system that has the potential to host significant concentrations of precious and critical metals.
RMI previously delineated numerous significant soil geochemical anomalies of around 50 parts per million (ppm) copper across the project area.
A fast-tracked field program will now aim to verify defined targets and plan a second phase drill program, with commencement of drilling anticipated in Q3, 2026.
Executive chairman, Asimwe Kabunga, said the company is seeking to expand on existing discoveries, whilst investigating shear-and intrusive-related copper and gold mineralisation across its large tenement portfolio.
He also today said the results of the high-resolution magnetic survey have supported the company’s regional exploration program at Mpanda.
“The property already hosts multiple high-grade copper and gold targets, which demonstrate a widespread mineralising system substantially under-explored,” he explained.
“This high-resolution magnetic survey data highlights potential controls and hosts for new discoveries in an almost completely unexplored north-easterly corridor. We intend to vector off the known discoveries to make new discoveries and build on the already significant exploration pipeline at Mpanda.
RMI is down -3.23% to 2.1cps this afternoon.
Join the discussion: See what HotCopper users are saying about Resource Minerals International Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.