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Quarterly Reports
Stay updated on Patcho’s ongoing activities and progress across our licensed exploration sites. Below are the latest summaries and detailed insights into our operations
Patcho Continental Resources Limited has been actively managing large-scale mining exploration under license 35859-HQ-LEL in the Solwezi District, North-Western Province. The license, spanning 15,000 hectares, permits exploration and development of Copper, Cobalt, Uranium, Gold, and Nickel. Here are the key highlights from Q4 2024:
- Regulatory Progress:
- Secured consent from the Mukumbi Royal Establishment, submitted for statutory Environmental Project Brief (EPB) processing with relevant authorities.
- Acquired an additional license (38394-HQ-SEL), with completed pegging activities and quarterly reporting submitted as per regulations.
- Exploration and Development Activities
- While field exploration remains on hold pending EPB approvals and surface rights consent, groundwork included reconnaissance and environmental assessments to prepare for upcoming exploration activities.
- Community and Environmental Efforts
- Preliminary assessments were conducted to evaluate the physical and ecological features of the licensed area, ensuring future exploration aligns with sustainable practices.
- Expenditure Overview
- Total quarterly spending amounted to USD 118,076.97, allocated primarily toward consultancy, administrative costs, and logistics.
- Future Plans
- Continued efforts to secure the chiefdom’s consent and finalize EPB approvals to commence full-scale exploration activities in 2025.
Patcho Continental Resources remains committed to sustainable development and community engagement as it progresses exploration activities to unlock the mineral wealth of the Solwezi District.
- Operational Progress
- Preparation Activities: Initial steps, including desktop studies and remote sensing, were conducted to better understand the area’s geology and prepare for field exploration in 2025..
- Community Engagement: Preliminary discussions were held with local leadership to build relationships and ensure smooth operations for upcoming fieldwork.
- Geological Overview
- The license area lies within a geologically significant region with rocks from the Mine Series, including arenites, shales, and carbonate rocks known for mineralization potential..
- Expenditure Overview
- Total quarterly costs amounted to USD 88,000, primarily spent on consultancy, consumables, and preparation for field activities.
- Future Plans
- Securing environmental permits for exploration activities.
- Continuing community engagements with local leadership and stakeholders.
- Geological and geochemical mapping to identify mineralization targets.