Cobre Ltd (ASX:CBE) has been selected to participate in the 2024 BHP (ASX:BHP) Xplor cohort, an accelerator program designed to identify new critical mineral deposits by providing BHP’s expertise and funding to mineral explorers, offering an opportunity to develop a long-term partnership with the mining giant.
BHP will furnish Cobre with US$500,000 in non-dilutive funding to accelerate CBE’s exploration plans in the Kalahari Copper Belt of Botswana for the Xplor Program period.
The program offers participants funding, mentorship and coaching, and connection into BHP’s network of suppliers and service providers.
Acknowledgement of technical merit
“The Xplor program provides us with a unique opportunity to partner with BHP experts to further our Kalahari Copper Belt targeting criteria and exploration programs,” Cobre CEO Adam Wooldridge said.
“We’re delighted to have successfully made it through the rigorous selection process, which is a great accolade for the technical merits of our team and exploration projects.
“We’re looking forward to participating in the program and developing priority targets where the Xplor funding will provide further value for our shareholders.”
Cobre will channel the funding toward assessing and processing targets with the potential to host tier-one copper-silver deposits, particularly at newly identified fold hinge-related trap-sites where the company expects higher grades of mineralisation and potential for larger deposit formation.
“I attribute this achievement to the dedication and effort of the CEO and the exploration team and look forward to advancing Cobre’s partnership with BHP, capitalising on their extensive experience and knowledge base in finding world-class deposits,” Cobre executive chair Martin Holland said.
“This gives further validation of Cobre’s vision on the tier-1 potential of the Kalahari Copper Belt.”