Cobre Ltd (ASX:CBE) believes it may have a large-scale copper deposit extending over “tens of kilometres” in Botswana following the completion of a 5,120-metre drill program at the Ngami Copper Project (NCP).
Results from the remaining drill program at the Comet and Asteroid targets show the copper-silver mineralisation extends over extensive strike lengths on both the northern and southern limbs.
Assays from Comet’s drill holes NCP43 through to NCP52 revealed thick copper-silver intersections in the central portion, with highlights including:
- 15.7 metres at 0.5% copper and 15 g/t silver from 188.9 metres downhole at NCP45;
- 14.1 metres at 0.5% copper and 11 g/t silver from 177.9 metres downhole at NCP50; and
- 12.9 metres at 0.5% copper and 13 g/t silver from 177.8 metres downhole at NCP49.
Drill hole NCP51, which hit 17.7 metres at 0.4% copper and 12 g/t silver from 221.2 metres downhole, has extended Comet’s mineralisation a further 500 metres to the southwest where the target remains open.
Drill intersections coloured by downhole copper equivalent on lithological interpretation.
Cobre is conducting metallurgical test work, along with resource modelling to establish the potential inferred and exploration target category grade and tonnage estimates for the larger system.
It expects to complete this in late August.
Assessing options
“Our team has discovered significant lateral continuity to mineralisation intersected at NCP,” Cobre chief executive officer Adam Wooldridge said.
“This provides us with the potential for larger moderate-grade targets that contain structurally controlled high-grade zones.
“We are currently assessing our options for advancing the project and have started acid recovery tests on the unusually dominant fine-grained chalcocite mineralisation which we’re optimistic will open up cost-effective options for beneficiation.
“We are excited to report back to the market once we have completed this important phase of work.”
Other results
At the Andromeda target, drilling of a single stratigraphic hole found elevated copper, which suggests the potential for additional styles of mineralisation at Ngami.
Andromeda shares many structural similarities to Sandfire Resources Ltd’s nearby “dome-related” deposits.
Meanwhile, drilling at the Asteroid Target (NYSE:TGT), along with neighbouring targets Nova and Meta, returned relatively poor intersections suggesting that the copper-silver mineralisation decreases westward.
Cobre’s projects in relation to Sandfire development projects.
Read more on Proactive Investors AU
