Nyimba Project

Mukuba Resources entered into an option agreement, whereby it obtained the exclusive option to acquire an 85% interest in the exploration license rights to a property the "Nyimba Project". The project is located near the town of Nyimba, about 300 km east of Lusaka, in Zambia. The Nyimba Project is well advanced and substantial exploration work has been completed to date. The polymetallic deposits at Nyimba host zinc, with copper, lead, molybdebum, silver and gold and were systematically explored and partially drilled by a Zambian government department Minex (Mindeco), in the late 1970s and early 1980s. The Nyimba Project rights were acquired by diversified miner Rio Tinto-Zinc Corporation now Rio Tinto in 1994, which carried out electromagnetic, magnetic and radiometric surveys, as well as initial reverse circulation drilling. Exploration work on the property ceased in 1997 when Rio Tinto, together with other mining companies, withdrew from Zambia.

In January 2007, a privately owned Zambian company Lukusashi Mining Limited, was granted the large scale prospecting license for the Nyimba Project area, which has now been updated to comply with the new Zambian Mines and Minerals Development Act, 2008. Mukuba Resources continues to assess historic exploration records, which indicate there are five defined areas of mineralization within the 500 square kilometre license area. The most prospective area appears to be Chipirinyuma, where soil sampling by Minex and Rio Tinto defined a surface anomaly measuring 3,5 km by 1,2 km.Lukusashi completed two diamond drill holes, spaced 50 m apart, on the Chipirinyuma deposit in March 2009. Mukuba independently sampled and assayed the core from each of these holes. The initial drilling program on the Chipirinyuma Target confirmed base metal mineralization and Mukuba's focus in 2011 on Nyimba will be to test the extent of this mineralization. To date, no work has been done to test the lateral or vertical extent of the deposit. Within the Nyimba Project area there are four other distinct areas of mineralization; Lutala Hills, Umba River, Ndake, and Ngambwa and these will also be tested in 2011.
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Please see press release titled "Mukuba Acquires Option on Massive Sulphide and Precious Metal Property in Zambia" dated September 16, 2010 and our latest Corporate Presentation located on the home page for detailed information regarding the Nyimba Project.