Cape Lambert Resources Limited (ASX:CFE) remains leveraged to the preliminary drill program set to begin at the Kasombo Copper-Cobalt Project in the Democratic Republic of Congo (DRC).
Although Cape Lambert has agreed to sell its project rights to Fe Limited (ASX:FEL), it holds a 44.66% major shareholding in Fe Limited so will remain largely exposed to the project.
READ: Fe Limited to commence copper cobalt drilling this week
Fe Limited will commence a preliminary drill program on 13 December 2017 (tomorrow).
A small reverse circulation drill program has been designed after the completion of recent mapping and sampling at the project.
READ: Cape Lambert Resources' European expansion assisted by board appointment
Cape Lambert recently appointed Stefan Müller as a non-executive director to its board.
The company also recently raised $1 million from a placement which will be applied to the company's DRC and Zambian cobalt and copper projects.
These projects are the Kipushi Cobalt Copper Tailings Project in the DRC and the Kitwe Tailings Project in Zambia.