Cobre Limited (ASX:CBE) announces the fourth intersection of copper mineralisation from its ongoing drill program on Kalahari Metals Limited’s (KML) NCP licenses.
Cobre reports that based on visual estimates, confirmed with pXRF readings, drillhole NCP10 has intersected a broad 69m zone of copper mineralisation which includes a 13m zone of abundant chalcocite mineralisation, which is centred at 310m down hole.
Mineralisation consists primarily of chalcocite in veins, fracture-fill and breccias along with secondary chrysocolla.
Mineralisation consists primarily of chalcocite in veins, fracture-fill and breccias along with secondary chrysocolla
The mineralised zone is steeply dipping and expected to sub-crop under about 65m of cover.
Cobre’s share price has surged 36.67% to $0.205 as of 9.30am AWST.
The NCP is located near the northern margin of the Kalahari Copper Belt (KCB) and includes significant strike of sub-cropping Ngwako-Pan / D’Kar Formation contact, on which the majority of the known deposits in the KCB occur.
Drillhole NCP10 targets the north-eastern extension of anomalous mineralisation intersected in drillholes NCP09, NCP08, NCP07 and historical drillhole TRDH14-16a (2m @ 1.8% Cu and 8g/t Ag), located over a strike of 4km.
This initial drill program was designed to test the first of 57 ranked targets across KML’s extensive license holding on the relatively unexplored northern margin of the KCB. Proving the occurrence of a significant strike length of copper mineralisation highlights the potential of this district to deliver new discoveries.
The project is located immediately east of KML’s Kitlanya West licenses collectively covering a significant portion of prospective KCB stratigraphy.
KML is targeting analogues to the copper deposits in Khoemacau’s Zone 5 development in the north-eastern portion of the KCB. These include Zone 5 (92.1Mt @ 2.2% Cu and 22g/t Ag), Zeta NE (29Mt @ 2.0% Cu and 40g/t Ag), Zone 5N (25.6Mt @ 2.2% Cu and 38g/t Ag) and Mango NE (21.1Mt @ 1.8% Cu and 21g/t Ag).
Images: Cobre Limited
