The Company's principal activity is mineral exploration and resource development. Our focus is exploring its existing tenements and interests in the Democratic Republic of Congo (DRC) and the investigation of mineral resource projects for future acquisition.On 6 November 2017, the Company completed the acquisition of the Kasombo Copper-Cobalt Project (Kasombo Project) from Cape Lambert Resources Limited (Cape Lambert) and were assigned 100% of Cape Lambert’s rights and obligations to the Kasombo Project, located 25km from the DRC's second largest city, Lubumbashi, in the Katanga Copper Belt of the DRC.The Company also has interests in several highly prospective projects in the Bryah Basin region of Western Australia with various joint venture partners, which are free-carried with no contributing responsibilities, until Decision to Mine. Fe Limited do not manage or undertake any activities with regards to these interests.
For further information and announcements regarding the free-carried interests, see the schedule of tenements below and visit the following companies websites:
Sandfire Resources Limited (ASX: SFR) www.sandfire.com.au
Auris Minerals Limited (ASX: AUR) www.aurisminerals.com.au
Kasombo Copper-Cobalt Project
The Kasombo Project is held by Soludo Lambert Mining SAS (Soludo Lambert) and is located 25km from the DRC’s second largest city, Lubumbashi, in the Katanga Copper Belt of the DRC. Soludo Lambert is a 50/50 joint venture company between Congolese entity Paragon Mining SARL and Cape Lambert. The Company acquired Cape Lambert’s interests in the Kasombo Project, where-in Cape Lambert assigned all its rights and obligations in the Kasombo Project to the Company (full details of the assignment are described in the Notice of Annual General Meeting, refer ASX announcement dated 14 October 2017). The Kasombo Project comprises three mineralized areas located within an approximately 600-hectare area, Kasombo 5, 6 and 7, located within two granted mining licenses PE 481 and PE 4886 (Licences), refer Figure 1. The Licences are held by La Generale Des Carrieres Et Des Mines S.A. (Gecamines).
The Kasombo area has within it 2 historical open pits that were mined in the 1990’s.
The Company may have an opportunity to expand their available area to other known mineralised areas within the greater Kasombo area.