All right, we're all good here for the final run. We've got a fascinating morning ahead of us, actually, a real mixture of commodities, some very, very interesting ones, ones that are very much related to the energy transition. We're going to be going quite widely around the globe, a little bit of an Africa focus as well. To get us started, we have Adrian O'Brien from Midnight Sun Mining Corp, they're in Zambia. Adrian is the V P of Business Development. Interestingly, before he was in mining, he used to make guitars. I believe that Slash and Neil Young use your guitars. I can't do a better introduction than that. Over to you, Adrian.
Always appreciate a little bit of a rock and roll beginning to the presentation. It is true, there are guitars in my past. First of all, I want to thank everybody. Super early morning. Good to start things off. Final day at Beaver Creek , and what an incredible conference this has been. Can't even explain to anybody that's not here, I know this is online as well, people are live and watching this presentation. What a buzz in this conference these past few days, it's been absolutely incredible. Just so nice to see such a positive, excited outlook from everybody we talked to throughout all the meetings we did. Just incredible. We're going to dive in. We are, of course, working in Zambia. This is a really special jurisdiction.
What you're going to see in just a moment here is arguably one of the absolute top spots on the planet for copper exploration today. Why is Zambia so great? I'll give you a couple of quick, quick facts. 75% of their export earnings are copper. This is an area with 100 years of history as a top mining jurisdiction. Every major company in the world is here. When you look at this region here, really quickly, Zambia, Congo Copperbelt, on the right-hand side of the graphic, the west side here, you see the domes region. This is the area that has emerged as really the top spot today. Every major player is there. Surrounded in green, that's Midnight Sun 's property. We have 506 sq km right in the heart of the belt. We're moving this project forward quickly.
A lot of key developments have taken place in the last little while, most notably Lumwana has come out in the last year as the biggest deposit in Zambia. We now have a new ton adjustment for Lumwana of 1.62 billion tons. That was driven by a fellow named Kevin Bonel. Kevin Bonel is our Chief Operating Officer, a big part of our story. He was brought in by Lumwana or by Barrick to transform Lumwana into a Tier 1 asset. Kevin did that in 24 months. If I did this presentation for you a year ago, Lumwana was 900 million tons. That's a jump, almost doubling in size. They're now launching, or in part, underway on a $2 billion expansion into a super pit that's going to double their output. This is part of the thesis for Zambia.
Zambia's President, President Hichilema, has come out and said, we're going to take Zambia, we're number six or seven in the world today, and we're going to make it number two. How are they going to do that? They're going to bolster production by bringing in new companies. Ivanhoe just came in for 8,000 sq km of land. It's hard to put your head around that. Think about how large a land package 8,000 sq km is. That's why Zambia is a hotbed. These are the biggest deposits in any jurisdiction. These are the biggest deposits on average, billion-ton average size, less than 150-meter depth. These are high-grade, they're shallow, and the largest in the world. This is why Zambia is a hotbed. Everybody's there, everybody wants to be there. This is probably the only district that can actually have a global impact.
When you see somebody like Barrick coming in, taking an aggressive approach, like a $2 billion expansion, boosting their output, and a president of a country that you're working in, bolstering everybody that's there, bringing in new companies, that's how you create an exciting new jurisdiction that can actually have a major impact on the global copper market. Kevin, of course, after finishing with Lumwana, Kevin joined us because he believes that our flagship target, which is what I'm really going to spend the most time on today, we are, as most people here probably know, or if you follow our story, we are in the middle of the very first systematic drill-out of our flagship target. It's super exciting. We've put together a model, we've got this thing figured out. I'm going to show you how.
Rather than beleaguering the story too much today, we only get 10 minutes to get through this, I want to show you what we're doing. After Kevin did that work at Lumwana with his team, he joined Midnight Sun . He really believes that our flagship has the chance to be bigger and higher grade than Lumwana. I'm going to show you why he thinks that. Keep these themes in mind, okay? Billion-ton deposits, shallow, less than 150 meters, relatively high grade, 0.56% average across the camp. This is a jurisdiction, but if you can find it, you can build it. There's Kevin, just so we can put a face to the name real quick before we go through this. This is the methodology, okay? I want everybody to really take this one in. When you're attacking these big systems, I mean, these are very, very large systems.
When you're attacking them, if you look at the historical exploration of the camp, you can see where people may have gone wrong. You end up typically starting out with a geochem anomaly, so a big surface anomaly. There is an easy inclination to look at something when you have a very high-grade copper anomaly at surface, just to go in and start drilling, start punching holes. How can you miss if you have a 20-kilometer anomaly that's 0.73% copper? These systems are not quite that easy. They're complicated. You might have a lot of copper at surface, but you need to approach it the right way. Most importantly, you don't want to waste time, and you don't want to waste any money. This is the methodology that Kevin used at Lumwana. It's exactly the same approach. It's actually pretty simplistic.
If you know you have a big geochem anomaly, do the work to figure out what you have, what the system looks like, and how to attack it, build out a roadmap. We use something called dipole-dipole IP surveys, which is not anything new. This is something that's a tool that's been around in the war chest for quite a long time, but it works beautifully. What it gives you is it gives you a real view to what the system looks like at depth. It tells you the dip direction. For anybody that's not maybe geologically inclined, dip direction is going to be the tilt of that mineralization in the ground, east to west. How does it sit? That's extremely important when it comes to drilling a 10-meter or 20-meter thick system. It gives you the dip direction. It gives you the depth.
It lets you know what you're working on so that you can build a really succinct model and have a really good pathway to drilling off. Once you know that, once you know what you're sitting on, then you can start putting drill holes in, but not before. We've done that work. We've gone out. We've done every bit of work we possibly can at Dumbwa to get ready. This is our flagship target. What you're looking at is a 20-kilometer long soil anomaly that peaks at 0.73% copper at surface. A couple of slides ago, I mentioned the average gradient here is 0.56%. Essentially, that's an ore-grade copper in soil at surface. The drill intercepts you see on the left-hand side were drilled predominantly by First Quantum . Those are what you're looking for. I'm going to draw your attention to one quick thing.
There's a hole down there at the bottom, SDD03B, 11 meters at 0.5 and 33 meters at 0.44% copper. That's two very distinct layers at Dumbwa. Dumbwa is not one single flat-lying layer. We've now done enough work that we can say we're convinced that Dumbwa is more than one layer. It's a stacked horizon, but we have two very distinct layers. That affects how we attack this from a drilling standpoint. This is a really quick thing I want to show you before we dive right into the drill plan and what we're doing. This is what Dumbwa looks like. We've talked about this a lot in the past. When you're driving around Dumbwa, you know, this area of the world is pretty dense with vegetation, a lot of trees, a lot of grass.
It's kind of, I wouldn't call it jungle-like, but I took this picture about 10 days ago when I was there. I really wanted to be able to share this with you because I think it speaks in a really strong way towards what we're doing. When you reach the copper anomaly, it looks like this. That's called soil toxicity. I always refer to this in my presentations as a vegetation kill zone. It's essentially exactly what it is. It's more like a vegetation can't grow zone. Nothing can grow here. That little bit of green you see is one of two plants that has specially adapted to growing in these high copper environments. There's a big system feeding this. Because of that, nothing can grow. You can see it continuing in the valley across the way. This is a big outcrop we have that runs 3% copper at surface.
Enough of that. Let's get into the drilling. This is the anomaly at Dumbwa. What you can see in the southern aspect of this, this is our dipole-dipole IP survey. This is Kevin's magic bullet, okay? This is what gives us that crystal clear view to the mineralization and how we can correlate what we're doing here. You'll notice the yellow circle around the 11.5 km southern section. That's where we carried out dipole-dipole IP so far. We have another 8 km- 9 km to the north we are also going to carry out, but we haven't done it yet. This is the result of the dipole-dipole IP. On the left, you're seeing chargeability. On the right, you're seeing resistivity. I'm going to break it down for you really simply. What you're looking at is something that shows us we have 11.5 km of continuous resistivity and chargeability.
That's mineralization. Now we need to go and drill this. We need to drill it, going back a few slides, systematically. How do we build a defensible model? Here's what we're doing. You'll notice that each of these lines has a name beside it. We're starting at the south with line one, moving all the way to line 24 in the north. That's 11.5 km. I've had the question probably 50 x in my presentations over the course of this conference. Why are you guys starting at line one? It's really simple. We had to pick a spot. That's it. Line one is the place. We're starting in the south. It makes it easy. Let's work our way north. We could jump around, but let's be systematic. We picked the best spot. Some of the best historic holes are there. That's our starting point.
What we're doing is starting at line one, systematically working our way across each line. Our team, headed up by Kevin, has built a model for every single line. Those lines are 500-meter spacing. They perfectly model them out, mapping geochem, resistivity, chargeability, historic drill results, and of course, that giant geochem anomaly at surface. We're drilling our way across, line by line, building ourselves a defensible, bulletproof model. What we're doing is aiming to get to line six. On there, it shows us L600. We're going to get to line six by Christmas. That's 6,500 m of drilling, 25 holes. What's that going to give us? That's going to give us a nice block model that we can show you as investors as to what that first three kilometers looks like.
If you look at something like this, where you have a beautiful geochem anomaly, you have a beautiful IP response, and you've drilled it, and you can show that that mineralization is real and has the grade we're looking for over three kilometers, you can extrapolate that over the entire 11.5 km. We can give you a really good idea of how big this actually is. I'm going to give you a contextual comparison, okay? Lumwana is a four-kilometer footprint. This is 20. Lumwana is about 500 m wide. This is a kilometer wide. Lumwana is about 150 m deep. This is 300 m deep. If you start extrapolating that geometry alone, you can start to get an idea of how big this system looks. If I were to sit here and tell you we were excited, that is probably the biggest understatement I could possibly lay out there.
Our team is absolutely over the moon about this. This is everything we had hoped. Now we get to go and prove that it's real. We've attacked it. That's Kevin Bonel on the right-hand side, Adrian Karolko on the left. They're busy in the field. We're hammering this thing. I want to take a picture of that one, so grab it. Kevin and Adrian are going for it. We've got two drill rigs running right now. We've just engaged drillers for two more. We're going to put four rigs on the ground. The thesis is really simple. Let's get to the finish line as quick as humanly possible. We have the capital to do it. We have the timing to do it. There's no reason to drag. Let's do it. We've been waiting 10 years to drill this thing. Systematic drill-out, starting in the south. It's underway.
We finished three holes so far. Those are in for assay. Hole four and five are underway right now. Two more rigs are coming in, so we get to attack it and get going. I see I've got two and a half minutes left. I'm going to dedicate that to our oxide copper plan, which is a little bit different, but super exciting. We're going full tilt on this one as well. What you're looking at there is our RC drill program at Kazhiba. Kazhiba is a little bit different, easier topography, very flat. It's farmland. The team is going very, very quickly on this program, actually. For anybody that doesn't know the story, I'm going to recap this in about 30 seconds. First Quantum 's Kansanshi mine is next door to us. They have an SX-EW oxide circuit.
They also have a smelter on site that produces about 1.5 million tons of sulfuric acid a year, which in Zambia, you can't truck or ship. They use oxide copper to neutralize their acid, full of malachite. They heap leach the oxides, that neutralizes the acid and gets rid of it. Simultaneously, it unlocks cathode copper that they sell and make $450 million a year. It's an incredible, beautiful way of getting rid of that acid and making a heck of a lot of money. That's really the economic engine of Kansanshi. Kansanshi is getting low on feed. They're getting low on oxide. We have a lot of it. We're working under a technical alliance with First Quantum to drill off something that we have at Kazhiba, which is very, very high grade.
What you're looking at now are the first drill results we announced in February last year: 21 m at 10.6%, 26 m at 5.6%, 15 m at 3%. I could go on, but you can read them. Those are high grade. This is a spectacular little deposit that we've put together here. Basically, what you're looking at is that little pink blob at the top. That's what we call Kazhiba- Main. This is the area we've been working. Initially, we set up a 160-hole program for the entirety of Kazhiba this year. That included the brand new targets you can see to the southeast. We decided to change our plan because this looked too good to pass up. We put all 160 holes at Kazhiba- Main. We're on hole 145 today. We're almost done. We'll be done in about 10 days.
What we're going to do is finish the drill off at Kazhiba- Main and deliver a resource to the market, our very first NI 43-101 maiden resource. We're going to show everybody how big this is so that we can start moving it forward, look to get that material going to Kansanshi, and backstop our entire valuation with real near-term production and cash flow. We don't know what the tonnage is going to be here yet. This is an expansion drill program. What we do know is this is going to be extraordinarily high grade. What we're looking at is probably something in the 2%- 3% average grade range. We'll see when it comes together, but this is very high grade. That's at surface with zero strip. This is material that can be picked up with an excavator and moved over to Kansanshi.
With this underway, all of these things are going to be coming out very, very quickly. You're going to see basically catalyst after catalyst. We've got drill results coming from Dumbwa, drill results from Kazhiba, our first maiden resource end of October, early November, and moving these things forward into the market, showing the world how big Dumbwa is, the most exciting time in the history of Midnight Sun . Just a really, really quick thing. My time is up, so I'm going to jump off the stage. We've reached a new high every day of Beaver Creek. It's been absolutely incredible watching the audience respond to what we're saying. Yesterday, we hit a market cap of $210 million, almost $210 million, $208 million yesterday, and a new high of $0.19. We opened this morning at our $1.19 story. We opened this morning at $1.19 as well.
We're really well on our way. That valuation is really just a reasonable baseline for the assets we're developing. Now we're on our way. I'll be here for any questions. Thank you so much for getting up early and being here. Enjoy the rest of the conference.
Adrian, thank you.