Significant New Copper Intersection at Ngami Copper Project
Sydney, Aug 1, 2022 AEST (ABN Newswire) - Cobre Limited (ASX:CBE) is pleased to announce the second intersection of significant copper mineralisation from its ongoing drill programme on KML's NCP licenses.
- Abundant chalcocite mineralisation intersected in the second diamond drill hole, NCP08, at the Ngami Copper Project (NCP) in the Kalahari Copper Belt (KCB), Botswana.
- Copper mineralisation occurs over a 25m interval downhole with a significant increase in chalcocite mineralisation over a 12m interval.
- NCP08 was drilled 1km southwest of NCP07 which was drilled 1km southwest and also along strike of mineralisation intersected in 14 -16a.
- These intersections now demonstrate that mineralisation occurs from approximately 55m depth below surface, over a strike length of greater than 2 km.
- The width and concentration of sulphide mineralisation intersected is comparable to discovery holes elsewhere in the KCB.
- Promising drill results highlight the district scale opportunity which includes 57 priority targets across Kalahari Metals Limited's (KML) extensive license holding on the northern margin of the KCB.
- A third diamond hole is currently in progress and is positioned a further 1km along strike to the southwest.
Commenting on initial drilling results, Cobre Executive Chairman and Managing Director, Martin Holland, said:
"The Ngami Copper Project in Botswana is demonstrating exceptional promise with this outstanding copper intersection which confirms that we are potentially sitting on a new copper discovery within the Kalahari Copper Belt. This new intersection is 1km away from our initial diamond hole that also intersected significant copper mineralisation. We have a broad zone of mineralisation covering a strike length of over 2km so far, indicative of a potential new sediment-hosted copper discovery and further validating the potential district-scale opportunity of our Botswana assets.
This has been a phenomenal start to our drilling program, which includes a total of 57 high-priority targets, and is only just the beginning. Moving forward, our focus remains on drilling out this exciting target whilst defining high-grade zones of copper and base metals mineralisation over our extensive landholding. We look forward to updating shareholders on further exploration success as we seek to unlock one of Africa's emerging copper districts."
Further comments from Kalahari Metals, CEO, Adam Wooldridge, said:
"We are delighted with the results from the second diamond hole, which has so far intersected many of the hallmarks of a new discovery in the KCB. This is a truly amazing start to the new drill programme, which is a testament to the strength of our technical and operational teams on the ground. The possible strike length of mineralisation intersected so far, coupled with the abundance of chalcocite in particular, is extremely encouraging. The team is looking forward to moving into an infill drilling phase as we continue to progress this target along with our other high-priority targets in the area."
Based on visual estimates, confirmed with pXRF readings, drill hole NCP08 has intersected a 25m zone of copper mineralisation starting from 120m downhole, with a marked increase in mineralisation from 135m to 146m. Mineralisation is dominated by chalcocite including vein, fracture fill and fine-grained mineralisation along bedding planes. The mineralised zone is steeply dipping and expected to subcrop under 55m of cover.
Drill hole NCP08 targets the southwestern extension of anomalous mineralisation intersected in NCP07 and historical drill hole TRDH14-16a (2m @ 1.8% Cu and 8 g/t Ag), located 1 and 2 km along strike respectively, demonstrating the significant strike length. The next hole in the programme will step out a further 1km, towards the southwest, to test for further strike continuity of mineralisation before infill drilling is commenced.
This initial drill programme was designed to test the first of 57 ranked targets across KML's extensive license holding on the relatively unexplored northern margin of the KCB. Proving the occurrence of a significant strike length of copper mineralisation highlights the potential of this district to deliver significant new discoveries.
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About Cobre Limited
Cobre Limited (ASX:CBE) is a copper and base-metals explorer with projects in Western Australia and Botswana. The Company recently discovered a new high-grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia, and is currently exploring approximately 8,100 km2 of tenements within the Kalahari Copper Belt (KCB) in Botswana.