29 Nov Cobre flags new Kitlanya targets for drilling
Pure-play copper explorer Cobre (ASX:CBE) is lining up reverse circulation (RC) and diamond drilling to test priority targets at its Kitlanya West Project in Botswana, Africa.
The $14.05 million market capitalisation company says new targets have been outlined through a combined 12,000m of RC and aircore (AC) drilling that returned consistent anomalous bedrock copper at the Tlou fold target.
Cobre reports the results from Tlou increase the target size to 4km by 1.2km within Kitlanya.
The company notes RC traverses have confirmed the presence of anomalous copper associated with hinge zones, key redox contacts, and ‘major’ structures.
The presence of hinge zones opens up the potential for sizeable fold-related trap sites for copper-silver deposits.
Meanwhile, the company confirms a large analogue to the Tlou fold target has been identified in magnetic data that highlights the potential for multiple comparable fold targets in the project area.
Cobre says the targets will be prioritised using recently completed airborne gravity gradient survey data ahead of the planned future drilling work.
The data is expected to provide information on basin architecture, structure, and potential trap-site targets for copper-silver deposits.
Cobre’s latest drilling program comprised 187 AC and RC holes designed to test for anomalous copper at the bedrock contact below cover, as well as determine underlying lithology, stratigraphy, and cover thickness across the ‘extensive’ project area.
Cobre Chief Executive Officer (CEO) Adam Wooldridge says results provide ‘compelling’ additions to the company’s ongoing exploration within the northern Kalahari Copper Belt, which has the potential to produce a new copper district.
Cobre is a resources explorer with a portfolio of prospective projects in both Botswana and Western Australia.
As of 30 September 2023, the company had $3.57 million cash and cash equivalents at hand, according to its latest quarterly report.