Cobre Ltd (ASX:CBE) has discovered high-grade copper mineralisation in drilling the Comet target at Ngami Copper Project in Botswana’s Kalahari Copper Belt (KCB), demonstrating the potential for economical grades of copper in the region.
Assay results confirmed the company’s visual assessment of drill hole NCP20A, delineating a broad 30-metre copper-silver intersection averaging 1.25% copper and 17 g/t silver from 128 metres to 158 metres down hole. Individual results of note from this intersection include:
- 12.2 metres at 2.5% copper and 24 g/t silver (2.68% copper equivalent); and
- 5.1 metres at 5.1% copper and 32 g/t silver (5.21% copper equivalent).
“Potential for economic deposit”
“These results highlight the potential for an economic deposit to be uncovered at Comet and our developing district within the KCB more broadly,” Cobre executive chair and managing director Martin Holland said.
“Importantly, we believe that, based on these latest assay results, there is much more to come.
“In particular, the significance of the NCP20A copper intersection corroborates the company’s previously reported visual estimates.
“This further reaffirms our exploration methodology and the high calibre of our African-based technical team on the ground.
“Our focus continues to be aimed at identifying new targets and proving up the high-grade zones within these.”
The high copper grades described in NCP20A are of particular interest, as they fall into the upper 2% of intersections from known deposits in the KCB and originate in a structurally controlled zone of high-grade mineralisation extending over more than 250 metres in strike length.
This high-grade zone is also surrounded by a lead-halo and several moderate-grade copper-silver intersections – based on these results, Cobre believes there is potential for several similar high-grade zones along the full 4-kilometre length of the Comet target.
Diamond drilling at Ngami is ongoing with a regional exploration drilling update due to be released shortly.