Drilling at Zambia’s Kangaluwi copper project has yielded encouraging results for Western Australia-based Zambezi Resources.

The AIM-quoted company says Kangaluwi’s Chisawa prospect has returned ‘substantial mineralised widths and grades’, including 14 metres at 1.52 per cent copper, 12 metres at 1.36 per cent copper and 10 metres at 1.23 per cent copper.

Zambezi, which owns100 per cent of the project, says mineralisation remains open along strike and at depth, with three quarters of the remaining prospective strike length yet to be drill tested.

Managing director Julian Ford argues the Chisawa results ‘confirm our opinion that Kingaluwi has the potential to develop into a world-class copper asset and a company-making project’. That should provide some consolation for investors, who have seen AIM-quoted Zambezi’s price fall from 28.75p last year to 5.38p today, valuing the company at only £10 million.

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Zambezi Resources	AIM	£2.47m	1.25p	0.00p
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