Cobre Ltd (ASX:CBE) is encouraged by preliminary results from a maiden diamond drill hole aimed at a newly identified set of copper exploration targets near the recent Comet target on Kalahari Metals Limited’s Ngami Copper Project (NCP) licences in Botswana.
Anomalous copper
The targets, generated using low detection limit partial leach sampling, yielded 12 metres of anomalous copper mineralisation consisting of fine-grained chalcocite and chrysocolla, occurring from 117 to 129 metres downhole.
This drill hole is the first of eight planned diamond holes designed to test copper in soil targets in the vicinity of ongoing infill drilling at the existing Comet target.
It was designed to test a TerraleachTM partial digest soil anomaly, which occurs in proximity to a compelling structural jog and large demagnetised zone identified in high-resolution magnetic data.
Proximity to Comet
In addition to establishing the newly named Nova copper target, results demonstrate the effectiveness of the exploration methodology in areas with thicker cover and prove Cobre’s fast-track approach for developing new copper targets.
Additionally, Nova is only 10 kilometres along strike from ongoing drilling at Comet, which gives the company confidence in the potential for multiple structurally controlled copper deposits within the NCP project area, which lies within the Kalahari Copper Belt.
The demagnetised zone is potentially indicative of hydrothermal alteration associated with the mineralising event, and this supports the case for a larger-scale target.
Further drilling is planned to test the extent of mineralisation across the new target.
Samples rolling in
To date, results from 55% of around 5,000 samples submitted for partial-digest, low detection limit assays are in, and the remaining results are expected by the end of November.
These results will be combined with some 8,500 samples from the company’s neighbouring Kitlanya West Project, to assist with prioritisation of further targets across this extensive emerging copper district.
To date, 13 diamond holes have been completed at Comet and drilling continues, with visual chalcocite mineralisation evident in several holes.
Assays on all outstanding diamond holes are still pending.
“Intersecting further copper mineralisation at a distinct new target (Nova), 10 kilometres away from current drilling at Comet, is a significant exploration milestone that validates the company’s targeting strategy and methodology,” executive chairman and managing director Martin Holland said.
“In particular, the identification of anomalous copper mineralisation at the Nova target represents an important indicator of the significant scale opportunity unfolding in this exciting new copper district.
“Cobre’s current focus on exploration at NCP is based on the potential we see for the expansion of our footprint in this highly prospective district as we continue to unlock multiple distinct copper targets.
“We are currently undertaking a diamond drilling program to infill higher-grade portions of our Comet target, with a second drill rig secured to test the extent of mineralisation at the newly identified Nova target before moving onto additional new targets in the vicinity.
“In addition to our ongoing drill program at NCP, an extensive soil sampling program on the neighbouring ~2,000-square-kilometre Kitlanya West Project is nearing completion.
“This data will be used to prioritise additional new targets for our 2023 exploration campaign as we endeavour to unlock a potential new copper district in Botswana.”