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- Drilling underway at highly prospective Donkey Hill prospect
- Second active drilling front established at Chalkos project in Namibia
- Donkey Hill hosts approximately 800m of total mapped strike
- Drilling at Donkey Hill will run concurrently with ongoing exploration drilling at Otniel prospect
Kaoko Metals (ASX: KAO) is ramping up drilling activity at the Chalkos copper-silver project in Namibia with a second rig mobilised and diamond drilling underway at the Donkey Hill prospect.
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“Commencing drilling at Donkey Hill is another exciting milestone for Kaoko and delivers on our commitment to accelerate exploration following the recent capital raising,” MD Gerard O’Donovan, said.”
“With encouraging early results returned from Otniel, we can now advance two priority targets simultaneously. Donkey Hill has a substantial footprint of outcropping copper mineralisation, and we are looking forward to testing how this mineralisation develops at depth.
“Having two active drilling fronts is particularly exciting as we begin to systematically test the potential of the largely under-explored, but geologically fertile Chalkos project.”
With impressive cash reserves of over $23 million following completion of the recent share placement, Kaoko has accelerated the mobilisation of the second diamond drill rig to Chalkos through its in-country drilling partner, Optimine Exploration.
Mr O’Donovan told shareholders the additional rig enables drilling to progress concurrently at Donkey Hill and the nearby Otniel prospect, establishing two active work fronts as the company advances its maiden exploration campaign across the highly prospective and largely under-explored Chalkos project.
He said the Donkey Hill prospect represents a priority exploration target within the Chalkos project, with extensive copper mineralisation identified at surface and historical grab samples returning grades of up to 69.6% copper.
Recent fieldwork by Kaoko has extended the mapped mineralised footprint in outcrop at Donkey Hill to approximately 800m in total across three trends, including an approximate 60m extension at Donkey Hill East.
Donkey Hill is located 2.2km from Otniel and the maiden drilling program is designed to test the depth extent and continuity of the outcropping copper mineralisation.
Kaoko Metals stands at the forefront of opportunity in the highly prospective Kaoko Belt of north-western Namibia, an emerging copper province that is drawing increasing interest from the global metal mining community due to its rich geological potential and under-explored nature.
KAO was steady at $2.51 with a Mkt cap of $150.9M prior to markets opening.
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