- Golden Deeps (GED) strikes 90 metres of copper and silver in the first diamond drill hole at its Khusib project in Namibia
- The intersection graded 0.8 per cent copper equivalent, including 28 metres at 0.53 per cent copper and 101 grams per tonne (g/t) gold
- A second intersection in a footwall structure in the initial drill hole, returned three metres at 5.8 per cent zinc, 1.8 per cent lead, 11.5 g/t silver and 12.9 g/t antimony
- Given the early results, Golden Deeps CEO Jon Dugdale says there is potential for “major extensions” to the deposit
- GED shares were up 10 per cent trading at 1.1 cents at 12:50 pm AEDT
Golden Deeps (GED) has struck 90 metres of copper and silver in the first diamond drill hole at its Khusib project in Namibia.
The entire intersection graded 0.8 per cent copper equivalent but included 28 metres at 1.5 per cent copper equivalent with 0.53 per cent copper and 101 grams per tonne (g/t) gold.
Additionally, a second intersection, returned from a footwall structure in this initial drill hole, included three metres at 5.8 per cent zinc, 1.8 per cent lead, 11.5 g/t silver and 12.9 g/t antimony from 502 metres downhole.
The 90-metre zone was returned from beneath the Khusib Springs mine which produced 300,000 tonnes at 10 per cent copper and 584 g/t silver before closing in the early 2000s.
Given the early results, Golden Deeps CEO Jon Dugdale said there is potential for “major extensions” to the deposit.
A second deeper drill hole has been completed and intersected a thick zone of sulphide mineralisation, assay results are expected in the new year.
Mr Dugdale said once the results are received, the company will collate the data from the geophysical program before planning targeted follow-up drilling.
GED shares were up 10 per cent trading at 1.1 cents at 12:50 pm AEDT.