- Cobre (CBE) intersects 12 metres of visible anomalous copper mineralisation in the first diamond hole at the Ngami copper project in the Kalahari copper belt, Botswana
- In addition to intersecting the 12-metre copper zone, NCP21 established a new copper target named “Nova” which will be drilled to test the extent of the mineralisation
- Further, roughly 55 per cent of samples sent for partial-digest, low detection assay has been received with the remaining results expected by the end of November
- Cobre is up 10.3 per cent with shares trading at 16 cents at 12:43 pm AEDT
Cobre (CBE) has intersected 12 metres of visible anomalous copper mineralisation at the Ngami copper project in the Kalahari copper belt of Botswana.
The company received results for the first diamond hole which was drilled to test a partial digest soil anomaly close to a large demagnetised zone.
Hole NCP21 is the first of eight diamond holes planned to test a new set of copper in soil targets.
Additionally, this hole established a new copper target named “Nova” which lies 10 kilometres southwest of the Comet target.
Executive Chair and Managing Director Martin Holland said intersection copper mineralisation at a new target so close too current drilling at Comet is a “significant exploration milestone”.
“We are currently undertaking a diamond drilling program to infill higher-grade portions of our Comet target, with a second drill rig secured to test the extent of mineralisation at the newly identified Nova Target before moving onto additional new targets in the vicinity.”
Cobre has planned further drilling to test the extent of the mineralisation at Nova.
Further, roughly 55 per cent of samples sent for partial-digest, low detection assay has been received with the remaining results expected by the end of November.
Once all results have been received, they will be combined with a further 8500 samples from the Kitlanya West project to help prioritise targets for future drilling.
Cobre was up 10.3 per cent on the market with shares trading at 16 cents at 12:43 pm AEDT.