Zambia-focused Kiwara claims ‘excellent’ drilling results at its Kalumbila copper and cobalt project in the north west of the country.

Chaired by Jubilee Platinum boss Colin Bird, AIM-quoted Kiwara says drilling at Kalumbila’s borehole L33 has intersected copper over a width of 46.3 metres at a respectable grade of 1.39 per cent and cobalt over 16.5 metres at an average grade of 0.15 per cent. The London-based company says the project’s mineralised strike potential is increasing as additional soil sample results are received.

Bird, who took control of bombed-out mobile phone dealer Wadharma last year with a £2 million financing and renamed it Kiwara, proclaims ‘the results from this borehole are excellent. They support the board’s assertion that Kalumbila is potentially a very significant bulk mining target’.

He says the company will continue to drill the prospect ‘aggressively’ to develop an inferred mineral resource and proceed to a bankable feasibility study (which will presumably need funding). At 17p, many times their Wadharma nadir but half last October’s peak, Kiwara shares have speculative appeal.
 
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Kiwara	AIM	£24m	14.50p	0.00p
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