Cobre (ASX:CBE) reports it has discovered a new ‘high-grade’ copper (Cu) zone from an ongoing infill drilling program at the Comet target, as part of its Ngami Copper Project in Botswana.
The copper and base metals explorer reports the results, generated by 1 singular drillhole (NCP20A), indicate the presence of ‘significant’ visible copper mineralisation within a 45m zone within a parasitic fold which is reported to have acted as a trap-site, effectively upgrading the grade and thickness of copper mineralisation.
It is also reported that mineralisation increases ‘significantly’ with depth through the intersection, with the lower portion of the drillhole demonstrating estimates of chalcocite in excess of 10%.
The current drilling program commenced with a goal of targeting structurally controlled ‘high-grade’ mineralisation within the Comet target, which is defined by its ‘extensive’ 4km footprint of anomalous chalcocite mineralisation
Commenting on the discovery, Cobre Executive Chairman and Managing Director, Martin Holland said: “Since our initial discovery at the NCP, we have moved rapidly to drill out the potential of this new copper district. Cobre is delighted with the latest copper discovery intersection which has both the thickness and grade to move the economics on the Comet Target. Importantly, these results provide further evidence for the team’s current exploration model by demonstrating that ‘high-grade’ zones of mineralisation occur along this extensive target.
“Cobre is delighted with the latest copper discovery intersection which has both the thickness and grade to move the economics on the Comet Target”
This discovery hole is a ‘significant’ step forward in the company’s journey to unlocking a copper deposit in the KCB, and we look very forward to providing updates on our ongoing drilling program as we advance this exciting new copper district.”
Cobre also notes that the results from NCP20A confirm the efficacy of the current targeting model, as well as provide further evidence that the copper-silver (Cu-Ag) mineralisation in the Comet target comprises ‘high-grade’ structurally controlled components.
The presence of these components delivers a ‘significant’ upgrade in the economic potential of the target.
In addition, the ‘high-grade’ zones that occur within the Comet target are reported to bear similarities to other known deposits in Botswana’s Kalahari Copper Belt (KCB), which are characterised by broad moderate grades and provide a further economic grade-thickness upgrade.
Cobre is a copper exploration growth company focused on the discovery of copper and base metals deposits across its tenements in Botswana and Western Australia. The company’s Ngami project is located near the northern margin of the KCB in Botswana, immediately east of its majority owned Botswana focused exploration company Kalahari Metals’ Kitlanya West licences and covers a ‘significant’ portion of prospective KCB stratigraphy. Work completed on the project to date includes about 2,000m of drilling, regional airborne electromagnetic (AEM) survey and soil sampling.
With current drilling at the project still ongoing, Cobre announces it is also targeting further copper deposits in Botswana based Khoemacau Copper Mining’s Zone 5 development in the north-eastern portion of the KCB.
Images: iStock
