- Cobre (CBE) confirms “significant” copper mineralisation at the Ngami copper project (NCP) in the Kalahari copper belt, Botswana
- The company has received results from the first three drill holes of its ongoing program across Kalahari Metals’ NCP licenses, returning hits such as 4.4 metres at two per cent copper and 25 g/t silver
- Cobre says the assays verify its visual estimates of anomalous copper mineralisation, with one hole proving the potential for economic concentrations of mineralisation
- The company says it will now focus on completing its 500-metre lateral drill spacing program along the target, which continues to return “encouraging” results
- Cobre last traded at 30.5 cents on September 20
Cobre (CBE) has confirmed “significant” copper mineralisation at the Ngami copper project (NCP) in the Kalahari copper belt, Botswana.
The company has received results from the first three drill holes of its ongoing program across Kalahari Metals’ NCP licenses. Cobre owns 75.5 per cent of Kalahari Metals and has a call option to acquire the remaining 24.5 per cent of the company.
The recent drilling work returned results including 10.7 metres at 1.3 per cent copper and 18 grams per tonne (g/t) silver from 136.2 metres, including 4.4 metres at two per cent copper and 25 g/t silver.
Cobre said the assay results verified its visual estimates of anomalous copper mineralisation in the area, with one hole proving the potential for economic concentrations of mineralisation.
The company also noted that the copper mineralisation consisted primarily of chalcocite, which is considered ideal for beneficiation.
“These results add weight to our conviction that this area is potentially host to one of the next big copper districts and provide further validation for our current exploration methodology,” Cobre Executive Chairman and Managing Director Martin Holland said.
“The program has now been significantly expanded as we start drilling for further high-grade zones within a broad footprint to include new targets in this emerging district.”
The company said it would now turn its focus to completing its 500-metre lateral drill spacing program along the target, which has continued to return “encouraging” results.
Cobre will also take on further drilling to identify possible high-grade zones within the target.
Cobre last traded at 30.5 cents on September 20.