- Golden Deeps (GED) intersects a 96-metre zone of copper-sulphide mineralisation through drilling in the Otavi Mountain Land copper district of Namibia
- The zone was intersected in the first hole of the program targeting extensions and repeats to the Khusib Springs deposit
- Portable XRF readings of the hole encountered up to 36 per cent copper, 3.6 per cent zinc and 5936 g/t silver
- Simultaneously, a large moving loop electromagnetic survey was completed near Khusib Springs with a large EM conductor detected and a follow-up hole is in progress
- Golden Deeps is down 29.4 per cent on the market with shares trading at 1.2 cents at 12:43 pm AEDT
Golden Deeps (GED) has intersected a 96-metre zone of copper-sulphide mineralisation in the Otavi Mountain Land copper district of Namibia.
The company has drilled seven of the nine diamond holes planned to target extensions and repeats to its Khusib Springs copper-silver deposit.
The first hole intersected T3 dolomite with fine and blebby copper sulphides as well as pyrite from 385 to 442 metres.
Further, it intersected a zone of massive to semi-massive sulphide stringers and dispersed tennantite from 442 to 481 metres.
Portable XRF readings on this first hole averaged 0.9 per cent copper and 0.2 per cent zinc with peak spot readings of 36 per cent copper, 3.6 per cent zinc and 5936 grams per tonne (g/t) silver..
A second hole, drilled 30 metres southwest of the first hole, intersected intermittent sulphide mineralisation from 374 to 535 metres.
Both of these holes will now be subject to downhole electromagnetics (DHEM) to determine the extent of the in-hole and off-hole conductors.
CEO Jon Dugdale said he was encouraged by the intersection at Khusib Springs and loks forward to DHEM work.
“Discovery of extensions or a repeat of this very high-grade copper-silver deposit would be a game changer for Golden Deeps and would provide a springboard to re-starting development from the existing Khusib Springs decline mine,” Mr Dugdale said.
Simultaneously, a large moving loop electromagnetic (EM) survey was completed to the southwest of Khusib Springs.
The first loop detected a relatively large EM conductor that may represent copper-silver sulphide mineralisation and/or a low-angled fault conductor.
A diamond hole is now in progress to test the conductor and if sulphides are intersected, additional drilling will be carried out.
Mr Dugdale said intersecting sulphides associated with the EM conductors would be a “significant breakthrough”.
Golden Deeps was down 29.4 per cent on the market with shares trading at 1.2 cents at 12:43 pm AEDT.