Caledonia is an African focused mining company with an exciting cobalt development project in Zambia -
Nama Cobalt Project Nama Group of Licences – Zambia This group of five contiguous licences covers an area of 1,150 square kilometres on the northern extension of the Zambian Copperbelt and hosts open–pittable near–surface low grade cobalt /copper mineralization.
Property: Caledonia Nama Limited, a wholly owned subsidiary of Caledonia, holds five contiguous exploration licences in northern Zambia which host near–surface cobalt/copper mineralization.
This area lies immediately north west of the operating Konkola Copper mine and adjoins the extensive holdings of Teal Mining and Exploration Limited.
In November 2006 the Zambian authorities agreed to grant a Retention Licence to Caledonia Nama Limited in order to enable the Company to conclude the detailed evaluation of mineral resources outlined by earlier work.
This Retention Licence covers an area of 80,625 hectares and is valid for two years.
Caledonia's cobalt property is called the Nama Cobalt Project.
Also in 2006/2007 a # 1 Technical Report, compliant with NI 43–101 - was prepared for Anomaly A at Nama - by Mr. David Grant, C.Geol., FGS, Pr.Sci.Nat., an independent consultant who is the "Independent Qualified Person" for Nama’s resources as required by National Instrument 43–101 of the Canadian Securities Administrators.
The NI-43-101 technical report concluded that the combined Indicated Resource for Anomalies A and C at Nama is estimated as 121,874,000 tonnes with a weighted average grade of 0.047% Co and 0.043% Cu. The Nickle portion is approximately 0.015%.
This is only one of Caledonia's many properties.
This property alone has an
estimated resource of
114,561,560 lbs of cobalt -
104,811,640 lbs of copper -
and 36,562,200 lbs of nickel -
At today's prices of $46.25/lb for cobalt -
$3.27/lb for copper -
and $13.26/lb for nickel -
this is a total value of $6,126,020,985 U.S. dollars -
(only a small area had the shallow exploration work done of this large property of the Zambian rich Copperbelt - much more explorations will continue and many more Anomaly outlined - to be explored)
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