Quarterly Activities Report
During the quarter, the Company's focus continued to be concentrated on the Perrinvale Volcanic-Hosted Massive Sulphide (VHMS) Project (Perrinvale or Project) located in Western Australia with Cobre continuing its exploration program and moving to 100% ownership of the Project.
- Drilling continued at Perrinvale with Significant High-Grade Copper Gold Results.
- Schwabe Prospect - drilling and assay results confirm the presence of a high-grade Volcanic-Hosted Massive Sulphide (VHMS) system containing primary copper, zinc, gold and silver at shallow depth including:
o DD Hole 20PVDD003 - 6 m @ 8.39% Cu, 3.52% Zn, 30 g/t Ag, 0.14% Co, 3.1 g/t Au from 49m; and
o DD Hole 20PVDD004 - 6 m @ 5.63% Cu, 3.89% Zn, 22 g/t Ag, 0.1% Co, 1.4 g/t Au from 28 m (located 30 m SE of 20PVDD003).
- Cobre moved to 100% Ownership of the High-Grade VHMS Perrinvale Project.
- Third Drilling Program commenced at Perrinvale.
- Subsequent to Quarter's End, further diamond core drilling at the Schwabe Prospect has identified additional VHMS mineralisation adjacent to previous drill results, with two massive sulphide zones intercepted at shallow depth including:
o 3.5 m @ 3.4% Cu, 0.8% Zn, 0.10% Co, 368 ppm Pb, 1.1 g/t Au, 16.5 g/t Ag from 48.0 m; and
o 3.5 m @ 2.0% Cu, 1.4% Zn, 0.07% Co, 344 ppm Pb, 0.3 g/t Au, 7.4 g/t Ag from 54.5 m.
- Follow-up RC drilling at Schwabe indicates the VHMS mineralisation horizon extends both north and south of the main prospect area.
- Majority of assays pending, with results expected to be released in the coming weeks.
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About Cobre Limited
Cobre Limited (ASX:CBE) is a Sydney based company focused on mineral exploration in Western Australia. The company recently discovered a new high grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia from its maiden drill program in June 2019.