Patriot Acquires High-Grade Sugarloaf Copper Deposit in Zambia’s Mumbwa District

Patriot Resources

Project positioned for synergy with Sinomine's Kitumba smelter, targeting near-term output from openpit resource

ASX-listed Patriot Resources has secured the high-grade Sugarloaf copper deposit in Zambia’s Mumbwa copper district, marking a strategic move to expand its footprint in one of Africa’s emerging copper hubs. The acquisition gives Patriot an asset with an exploration target of 1.6 to 2.5 million tonnes grading 2.0% to 2.5% total copper, or 32,000 to 62,500 tonnes of contained copper, based on historical drilling.

Located just 4.4 km southeast of Sinomine’s Kitumba copper deposit and under-construction smelter, the Sugarloaf site presents a rare opportunity to synchronize development timelines and leverage regional infrastructure.

Near-Term Synergies and Regional Copper Strategy

“Upon the completion of this acquisition, we will have a portfolio of copper projects ranging from near-term, high-grade production to large-scale blue sky exploration,” said Patriot chairperson Hugh Warner. He emphasized Patriot’s goal to align Sugarloaf’s development with Sinomine’s Kitumba smelter, expected online in late 2026.

“Sugarloaf is no longer stranded. With Kitumba’s smelter coming online, it becomes a viable, value-generating project,” Warner added.

Sinomine chairperson Pingwei Wang also endorsed the synergy: “We look forward to processing Sugarloaf ore at our state-of-the-art Kitumba smelter.”

Project Highlights and Acquisition Terms

• Geology & Infrastructure: Similar setting to Kitumba; near-surface mineralization ideal for openpit mining
• Historical work: 35 drill holes totaling 11,904 m of diamond core
• Grid access: Less than 500 meters from Zambia’s power grid
• Mining licence: Valid through 2033

Acquisition terms include a $10,000 deposit, a $1 million payment within 90 days, and a deferred payment of $500,000 by end-2025 or $1 million from future cash flows.

Patriot believes the broader licence area holds further copper occurrences that could enhance project value through future exploration.