Cobre Ltd (ASX:CBE) has started diamond drilling at its Ngami Copper Project at the same time as its seeking an extension to the mineralisation northeast of the Comet target and an update to the project’s exploration target.
The project – located on the Botswana Kalahari Copperbelt (KCB) – was subject to a successful program of hydrogeological and metallurgical test work last month, with this new diamond drilling program a follow up.
Cobre intends to convert 10 to 20% of this into the indicated and inferred category once a mineral resource estimate (MRE) has been completed.
The drilling focused on mineralisation extension is looking to target several kilometres of prospective untested strike; this will be integrated within the exploration target, which is set at between 103 and 166 million tonnes at 0.38 to 0.46% copper (Cu).
Around 4,800 metres worth of diamond drilling will be included in the program.
Cobre CEO Adam Wooldridge said he was delighted to be drilling again at the project.
“This important programme will provide the resource estimates and further hydrogeological testwork to support our ongoing ISCR development journey,” he said.
“We’re particularly excited to target some of the untested blue-sky along strike from the Comet Target which could further expand on the significant strike length of drill proven mineralisation on this project.”
Cobre shares moved up following the news, and at 12:36 AEDT, they were trading at 5.7 cents – a rise of 1.79% since the market opened.
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