How Blaze Minerals’ Congo Acquisition Could Unlock a Base Metals Bonanza

Strategic Acquisition in the Congo

Blaze Minerals Limited has taken a significant step forward by acquiring an 80% interest in the Loulombo Project, located within the geologically rich Congo Craton. This acquisition places Blaze at the forefront of a potentially world-class base metals opportunity, with the project area covering 195 square kilometres across two granted exploration licenses. The region’s complex geology, dominated by Archean granitoids and Neoproterozoic sedimentary sequences, provides a promising foundation for mineralisation.

The focal point of this acquisition is the Mimpala Target, a site that has already attracted artisanal miners since its discovery in 2022. Preliminary sampling has revealed exceptional grades of lead, vanadium, copper, and zinc, with rock-chip samples showing lead concentrations as high as 60.5%. These results underscore the potential scale and quality of the deposit.

Advancing Towards Drilling

Blaze is advancing regulatory approvals and community engagement in preparation for a maiden drilling campaign scheduled to commence in August 2025, subject to final permits. The company has identified a preferred drilling contractor and is finalising contracts, signalling a transition from exploration to resource definition. This drilling campaign will be critical in delineating the extent and grade of the mineralisation at Mimpala and surrounding targets.

Critical Minerals Discovery in Uganda

In parallel, Blaze’s exploration efforts in Uganda continue to bear fruit. Assay results from three diamond drill holes at the Ntungamo Project have confirmed a new critical mineral discovery, identifying significant concentrations of gallium and rubidium. These elements are increasingly important in high-tech and clean energy applications, positioning Blaze to tap into emerging market demands. Drilling results from two additional holes are awaited, which could further enhance the project’s profile.

Meanwhile, the Mityana Project, also in Uganda, remains under evaluation. Although recent drilling did not return significant results, the presence of lithium-bearing minerals in historical mining waste highlights the potential for future exploration.

Capital Raising to Fuel Growth

To support these ambitious exploration programs and the Loulombo acquisition, Blaze secured firm commitments for a capital raising of approximately $2.42 million, with additional director participation of $100,000 pending shareholder approval. The funds will be allocated primarily to acquisition payments, drilling, assays, and further exploration activities across the Congo and Uganda projects. This financial backing provides Blaze with the runway to advance its projects while managing operational costs.

Notably, the company has surrendered its two exploration licenses in Western Australia’s Kirkalocka area, reflecting a strategic focus on its African assets.

Outlook and Market Positioning

Blaze Minerals is positioning itself as a key player in base metals and critical minerals exploration within highly prospective African terrains. The combination of high-grade base metals at Loulombo and critical mineral discoveries in Uganda aligns well with global trends emphasizing supply chain diversification and the growing demand for technology metals. The upcoming drilling campaign and pending assay results will be pivotal in validating the company’s resource potential and shaping its next phase of development.