New copper intersection raises Cobre’s hopes for Botswana exploration at Ngami

Cobre Ltd (ASX:CBE) has found a 21-metre-thick segment of mineralisation dominated by chalcocite, and prospective for copper after completion of its first exploration hole at the Ngami Copper Project in Botswana, located on the Kalahari Copper Belt (KCB).

The intersection comprised significant disseminated fracture and cleavage hosted chalcocite mineralisation from 152 to 165 metres downhole, which increases from an estimated 0.3% chalcocite to upward of 3% at the contact with the footwall.

It contained quartz-carbonate vein hosted chalcocite mineralisation from 161.65 to 165.33 metres downhole, with this increasing from an estimated 2% chalcocite to approximately 5% at the contact with the footwall.

These values – which reflect visual estimates backed up by pXRF measurements – show the
strike continuity of mineralisation along the contact.

Cobre now intends to use this information to add to the current exploration target of 103-166 million tonnes at 0.38 to 0.46% copper.

The drill hole which picked up this mineralisation is 7.5 kilomertes along strike of the Comet target, and these values show more high-grade mineralisation is present along strike to the northeast of the target in a previously untested area.

Chief executive officer Adam Wooldridge said the indications were strong from this exploration work.

“This is a great start to our recent phase of drilling at NCP, demonstrating the continuity of
mineralisation into a previously untested portion of the contact,” he said.

“Not only does this intersection expand on our significant exploration target but highlights the potential for further high-grade mineralisation at NCP.

“Finally, the spatial correlation with the AGG results provides a useful potential future vector
for target generation. The company now looks forward to the start of infill drilling at the Comet Target designed to bring a portion of the exploration target into category.”

Cobre has been trading at 5.9 cents.

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