Patriot Lithium strengthens copper focus with new Zambian option
Australian-listed Patriot Lithium is deepening its focus on Zambia's copper-rich resources with a binding option agreement to acquire a 90% interest in the Kitumba exploration licences, located north-west of Mumbwa.
The licences, covering an area of 255 km2, surround the significant Kitumba copper deposit, which is owned by Sinomine Kitumba Minerals.
The Kitumba deposit has garnered attention recently, with Sinomine announcing in August a $600-million investment to bring the deposit into production, aiming for an output of 50 000 t/y of copper.
In a statement, Patriot Lithium noted that its directors were well-acquainted with Sinomine and indicated its intent to cooperate with the project.
The latest copper option follows an earlier agreement with Zambian company Array Metals and Natural Resources in October. Through this agreement, Patriot secured an 80% interest in the Katwaro project, which spans 400 ha and includes a historical openpit mine rich in copper-bearing metasediments.
The expansion into Zambia – and copper – comes amid challenges at its Gorman lithium project in Canada.
Patriot has encountered setbacks there, with the Sandy Lake First Nation Band denying the company access to land for exploration. The Band has also indicated that it does not intend to engage in discussions before the end of the year regarding a potential path forward for the project.
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