Kaoko Metals (ASX: KAO) Managing Director Gerard O’Donovan joins The Watchlist to discuss the first assay results from the company’s maiden drilling program at its 400km² Chalkos Copper-Silver Project in Namibia, with broad, shallow mineralisation confirmed at Otniel and drilling underway at the second prospect, Donkey Hill.
For our investors, this is just two holes of a multi-hole program. We’re gonna drill many, many holes moving forward, and now it’s about returning value with that drill bit. Anticipate to see multiple assays as we come.
HIGHLIGHTS
- First two drill holes return broad copper-silver intersections, including 37.1m at 1.23% copper and 15.2g/t silver, and 48m at 1.02% copper and 12.9g/t silver
- Higher-grade intervals include 6.62m at 3.05% copper and 40g/t silver
- Silver is strongly correlated with copper, with a consistent silver-to-copper ratio across both holes
- Two diamond rigs operating across Otniel and Donkey Hill as the company tests the scale and continuity of mineralisation
- $22.5 million in cash to support ongoing exploration, with further assays expected
To get the assays back and to see the correlation between the silver and the copper is also really important. That seems to be consistent throughout. Really high-grade results, good silver numbers, cash in the bank, and continued drilling in a fertile project which has been proven by these results.
Further details from the ASX announcement
The company’s announcement provides further detail on the first two holes at Otniel, including higher-grade intervals within the broader intersections.
- DDOT001: 37.1m at 1.23% copper and 15.2g/t silver from 54m, including 6.62m at 3.05% copper and 40g/t silver. A 1m interval returned 5.12% copper and 86g/t silver.
- DDOT002: 48m at 1.02% copper and 12.9g/t silver from 46m, including 7.15m at 2.76% copper and 34.6g/t silver. A 1.1m interval returned 6.42% copper and 61g/t silver.
- Donkey Hill: Drilling is testing the depth extent and continuity of known surface copper mineralisation, with the mapped footprint recently extended by more than 700m to over 1.5km, according to the announcement.
- Next steps: Further drilling, geological and geophysical work will help define the mineralisation and identify additional exploration targets across Chalkos.
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