History and Opportunity
Cradle Arc is the owner (100%) of mining licence 8074-HQ-LML in central Zambia. The mining licence contains two historic gold mines, Matala and Dunrobin, and a number of advanced exploration targets, including Chosa and Shadreck, all within a single 32km2 large scale 25 year renewable permit.
The Project has excellent potential to be developed to production in the near to mid term considering the presence of the mining licence, its associated environmental permit, and an advanced JORC Code compliant resource estimate in the Measured, Indicated and Inferred categories of, in aggregate, 760,000 oz Au at an average grade of 2.3g/t Au.
US$20 million has been invested in drilling and test work to date, and a feasibility studies have now been completed for both the Matala and the Dunrobin deposits.