- Cobre (CBE) unearths a high-grade copper zone at the Comet Target within its Ngami copper project in the Kalahari Copper Belt of Botswana
- The company has been undertaking an infill drilling program at the target, focusing on uncovering high-grade mineralisation
- One drill hole intersected a “significant” 45-metre zone of visible copper mineralisation consisting primarily of chalcocite with subordinate chrysocolla from 114 to 159 metres downhole
- The company says the results prove high-grade zones occur within the target, which bears similarities to other known deposits within the Kalahari copper belt
- Cobre shares are up 30 per cent to 19.5 cents at 10:50 am AEDT
Cobre (CBE) has unearthed a high-grade copper zone at the Comet Target within its Ngami copper project in the Kalahari Copper Belt in Botswana.
The company has been undertaking an infill drilling program at the Comet target, targeting high-grade copper mineralisation.
One drill hole intersected a “significant” 45-metre zone of visible copper mineralisation, consisting primarily of chalcocite with subordinate chrysocolla from 114 to 159 metres downhole.
Based on visual estimates, which were later backed up with pXRF measurements, Cobre reported mineralisation was intersected in the lower 30 metres of the zone.
The mineralisation increased from between 0.6 per cent and one per cent chalcocite at the top of the zone to over 10 per cent chalcocite at the base.
The company said the results proved high-grade zones occurred within the target, which bore similarities to other known deposits within the Kalahari copper belt.
Cobre Executive Chairman and Managing Director Martin Holland said since its initial discovery at Ngami, the company had moved rapidly to drill out the potential of this new copper district.
“Cobre is delighted with the latest copper discovery intersection, which has both the thickness and grade to move the economics on the Comet Target,” Mr Holland said.
“Importantly, these results provide further evidence for the team’s current exploration model by demonstrating that high-grade zones of mineralisation occur along this extensive target.”
Cobre shares were up 30 per cent to 19.5 cents at 10:50 am AEDT.