Africa-focused minerals explorer Blackthorn Resources Ltd. (BTR.AU) said Tuesday it is uncertain whether BHP Billiton Ltd. (BHP) will continue as a venture partner in the Mumbwa copper-gold project in Zambia.

BHP has said it doesn't intend to conduct further drilling between now and June 30, Blackthorn said in a statement, adding it hasn't been advised of BHP's intentions regarding future participation in the project.

Assay results from five remaining drill holes are pending, the Sydney-based company said.

"We remain enthusiastic about the Mumbwa Project and the potential to enhance value, whether or not BHP Billiton elects to continue direct participation," Managing Director Scott Lowe said.

Blackthorn signed a joint venture agreement with BHP in 2004 to earn a 70% interest in the Mumbwa project by funding three phases of exploration over four years, which it fulfilled in 2008. BHP had the option to claw back an up to 80% stake in the project by funding the next stages of exploration and feasibility studies, and has so far regained a 10% interest to give it a 40% share in Mumbwa. Under the terms of the pact, BHP can either progress the project to a feasibility study or opt out entirely and retain a 2% production royalty from any future mining.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com
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