- Cobre (CBE) confirms the vertical continuity of copper mineralisation at its Ngami copper project in Botswana
- It comes as a fifth diamond drill hole intersected copper mineralisation, based off visual estimates and portable X-ray fluorescence (pXRF) readings
- The infill hole was targeting the vertical extension of anomalous mineralisation intersected in a previous hole
- The company has also commenced infill drilling at 500 metre spacing on either side of the hole, with a second drill rig due to arrive in two weeks
- Shares are trading 15.9 per cent higher to 65.5 cents at 10:50 am AEST.
Cobre (CBE) has confirmed the vertical continuity of copper mineralisation at its Ngami copper project in Botswana.
It came as a fifth diamond drill hole intersected copper mineralisation, based off visual estimates and portable X-ray fluorescence (pXRF) readings.
The visible mineralised zone of copper extends over 78 metres downhole, with 16 metres of notable visual chalcocite and bornite mineralisation including seven metres of abundant chalcocite mineralisation confirmed with pXRF.
The infill hole was targeting the vertical extension of anomalous mineralisation intersected in a previous hole.
The company said the latest intersection demonstrates the visible copper mineralisation continues vertically in the previous hole to more than 315 metres in depth.
It has since begun infill drilling at 500 metre spacing on either side of the hole, with a second drill rig due to arrive in two weeks.
Managing Director, Martin Holland said the project has strong exploration potential.
“This important hole confirms that mineralisation continues at depth as well as laterally along more than four kilometres of proven strike,” he said.
Shares jumped 15.9 per cent higher to 65.5 cents at 10:50 am AEST.