Mulofwe U3O8 (ZRL) - Zambian Copperbelt (sitios de interés)
Descripción del sitio
March 12, 2009
Rio Tinto Exploration pulls out of Mulofwe Uranium JV
July 14, 2008
The joint venture recently completed a major VTEM survey at Mulofwe (Fig 3), and identified several electromagnetic conductors within a regional shear zone interpreted to form part of the continent-scale Mwembeshi Shear system. The shear zone is evident in electromagnetic and radiometric data over a strike length in excess of 30km, and continues beyond the survey boundary to the east and west
Mulofwe Uranium Mineral Rights JV
Zambezi Resources (ASX:ZRL)
Rio Tinto Exploration, subsidiary of
Rio Tinto Plc (LSE:RIO, ASX:RIO)
Under terms agreed in the Letter of Intent with Rio Tinto, Rio have committed to spend US$1 million minimum to assess the potential for uranium mineralisation over approximately 1,250 km2 of the Mulofwe prospect. Rio Tinto may elect to spend an additional US$5 million to earn 51% of the Uranium Minerals rights, in which case the parties have agreed to form an Incorporated Joint Venture. Once Rio Tinto has earned a 51% interest in the project, Zambezi may elect to retain their 49% interest by meeting their share of expenditure or elect to dilute to 20% in which case Rio Tinto may earn an addition 29% for a total of 80% by completing a Bank Feasibility Study. Zambezi may elect to convert their interest to a 2.5% Net Smelter Royalty at any time after Rio Tinto has earned its 51% share of the project. Rio Tinto will be the manager of the exploration program and any Joint Venture entered into
Position calculated from
UTM Zone 35S (WGS84)
698666mE, 8319700mN
-15° 11' 27.86", +28° 50' 57.48"