Cobre strikes more Kalahari copper

Cobre strikes more Kalahari copper

COBRE has had encouragement drilling copper in Botswana’s Kalahari Desert, with assays including 30m grading 1.25% copper and 17 grams per tonne silver from 128m reported from the Comet target.

Within that interval was 1.7m at 10.9% copper and 45gpt silver.

The true width of the mineralisation is not yet known.

Cobre said the recent drilling targeted a structurally controlled high-grade zone of copper-silver mineralisation within the Comet prospect, which extends over more than 250m from previous drill hole of 10.7m at 1.5% copper equivalent.  

Diamond core drilling is ongoing.

Cobre said it is targeting analogues to the copper deposits in Khoemacau’s Zone 5 development in the north-eastern portion of the Kalahari copper belt that include Zone 5 (92.1 million tonnes at 2.2% copper and 22gpt silver), Zeta NE (29Mt at 2% copper and 40gpt silver), Zone 5N (25.6Mtat 2.2% copper and 38gpt silver) and Mango NE (21.1Mt at 1.8% copper and 21gpt silver).

Cobre had A$6.4 million cash at the end of the September.

Shares in Cobre were up 2.2% to 22.5c in afternoon trade, capitalising the company at $46 million.

The stock spiked to more that 50c a few months back on the promise being shown by Cobre’s exploration.

The company raised $7 million in August when it priced new shares at 15c each.


The Mining News 5.12.2022