Introduction

Moxico Resources PLC is an unlisted junior British exploration and mining company focused on copper in Zambia. Moxico intends to list its shares on a recognised stock market in the first half of 2019. ZincOx holds a 5.16% interest (12,500,000 shares) in Moxico which it acquired in 2017 at a price per share of 6p.  Moxico has recently raised approximately £8.5 million at a price per share of 12p.

Moxico is building a portfolio of copper assets in Zambia. It has two principal projects, Mimbula and Kalengwa.

Further details of Moxico can be obtain on its website, www.moxicoresources.com

Kalengwa

Moxico holds a 60% interest in the Kalengwa project.

Historical copper production of 140,000t of copper from an open pit with a grade of 2.5% to 3.5% copper. In addition there is stockpiled ore and tailings amounting to 2.65 million tonnes at a grade of 1.085% copper. Moxico is investigating the possibility of starting rapidly a small operation on the tailings and stockpile while exploration for a more substantial in-situ resource progresses.

The ore body remains open along strike and at depth and Moxico believes there is potential for a a 20m wide orebody with a grade of over 3% copper.

Mimbula

Moxico hold an 85% interest in the Mimbula mining licence which lies in the heart of the Zambian Copperbelt, one of the most productive copper mining areas in the world.

Mimbula, regional geological setting

There has been extensive exploration on the Mibula mining licence, including over 60,000 m of drilling. This has led to the definition of a resource of 61.5 million tonnes at 1.18% copper. A preliminary open pit design indicates that this could be extracted with a strip ratio of less than 2:1.

Mimbula, old trial mining pit

Recent drilling has yielded representative samples and metallurgical testwork was commenced in August 2018 with a view to completion a Pre-Feasibility Study before the end of 2018, that can form the basis of a listing for its shares.