05 Dec Cobre demonstrates potential for economic grades at Ngami Project
Emerging resources exploration growth company Cobre (ASX:CBE) reports it has uncovered a ‘significant’ zone of chalcocite mineralisation within a parasitic fold following a drilling campaign at the Comet Target, as part of its Ngami copper project in Botswana.
The results indicate that the ‘high-grade’ zone appears to extend from drillhole NCP08 through to the recently completed NCP25 to NCP20A, covering a distance of more than 250m.
It is also reported that the ‘high-grade’ copper-silver (Cu-Ag) results demonstrate the potential for economic grades in the district and also confirm visual copper mineralisation estimates, with grades averaging 1.25% Cu and 17g/t Ag from 128m to 158m downhole.
Key results include: 5.1m at 5.1% Cu and 32g/t Ag, as well as an ‘exceptional’ interval of 1.7m at 10.9% Cu and 45g/t Ag from 155.3m to 157m downhole.
The grade thickness of the Cu-Ag mineralisation from drillhole NCP20A is reported to fall into the upper 2% of drillhole intersections from other known deposits within the Kalahari Copper Belt (KCB), highlighting the ‘significance’ of the result.
The recent drilling campaign was designed to intersect sedimentary-hosted, structurally controlled, Cu-Ag mineralisation associated with the redox contact between oxidised Ngwako Pan Formation red beds and anticlinal structures.
Addressing the discovery, Cobre Executive Chairman and Managing Director, Martin Holland says: “These results highlight the potential for an economic deposit to be uncovered at Comet and our developing district within the KCB more broadly. Importantly, we believe that, based on these latest assay results, there is much more to come.
“THESE RESULTS HIGHLIGHT THE POTENTIAL FOR AN ECONOMIC DEPOSIT TO BE UNCOVERED AT COMET AND OUR DEVELOPING DISTRICT WITHIN THE KCB MORE BROADLY”
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 company also notes that the ‘high-grade’ zone is confirmed to be bounded laterally by an anomalous lead halo, with similar anomalous lead intersections also noted in drillholes NCP14 and in particular NCP10, which also exhibits parasitic folding.
In addition, it is believed that there is potential for numerous structurally controlled ‘high-grade’ zones to occur within the greater 4km Comet target.
Cobre is an emerging resources exploration growth company that has prospective projects in both Botswana and Western Australia. The company’s Ngami project is located near the northern margin of the KCB and includes a ‘significant’ strike of sub-cropping Ngwako-Pan / D’Kar Formation contact on which the majority of the known deposits in the KCB occur.
The project is situated immediately east of the Kitlanya West licences, which collectively cover a ‘significant’ portion of prospective KCB stratigraphy.
Cobre announces that diamond drilling (DD) operations are still ongoing, with a regional exploration drilling update expected shortly.