Midnight Sun Mining Corp (TSX-V:MMA, OTCQB:MDNGF) announced the termination of its earn-in agreement with KoBold Metals Company for the Dumbwa Target in Zambia, retaining full ownership of the asset.
The company now plans to launch a 2025 exploration program at Dumbwa, a key target on its Solwezi Project.
Midnight Sun CEO Al Fabbro emphasized the company’s long-standing presence in Zambia, describing Dumbwa as a high-grade exploration target with a 20-kilometer-long copper-in-soil anomaly.
“The Domes Region of Zambia is undeniably special, as evidenced by the world-class mining companies and the mines they operate surrounding us,” Fabbro said in a statement.
"Dumbwa is a huge, high-grade exploration target, featuring a 20 kilometre long copper-in-soil anomaly that represents an incredible opportunity for Midnight Sun to make a transformative copper discovery.”
New COO sees potential
Midnight Sun’s exploration efforts will be led by chief operating officer Dr Kevin Bonel, who has prior experience in Zambia’s Domes Region, including his role in developing Barrick Gold’s Lumwana Mine.
Fabbro drew comparisons between Dumbwa and Lumwana, which recently announced a feasibility study for a super-pit expansion to double its copper production.
Bonel also noted the geological similarities between Dumbwa and Lumwana, highlighting Dumbwa’s strong soil anomaly and extensive mineralized horizons.
“This is as good as a target gets in the Zambian Copper Belt,” Bonel told investors.
"What initially struck me about the Dumbwa Target was the remarkable similarity to Lumwana. They are both north-south trending, 15 degrees east-dipping schist-hosted mineralized zones and both have multiple, stacked, mineralized horizons.”
The 2025 Dumbwa exploration program will begin with an induced polarization (IP) survey to map the subsurface extent of mineralized units, followed by targeted drilling to assess the copper system’s full lateral extent. The company expects ground mapping and the IP survey to start in the second quarter of 2025, with drilling to follow.