Cobre's copper in Africa

Cobre skyrockets on ‘transformational’ results at Ngami Copper Project, Botswana

Cobre (ASX:CBE) reports  ‘significant’ new copper mineralisation following completion of the first diamond drill (DD) hole at its Ngami Copper Project, within the greater Kalahari Copper Belt (KCB) in Botswana.

The company’s share price skyrocketed by 100% as of 11.30am AWST on the back of the announcement.

The results, generated by DD hole NCP07 and confirmed by pXRF readings, report the presence of a broad zone of copper mineralisation from 214m depth and continues for about 59m downhole to 273m.

NCP07 was designed 1km away along strike to test the extent of anomalous chalcocite mineralisation intersected in historical hole TRDH14-16a (2m @ 1.8% Cu and 8 g/t Ag), proving that mineralisation increases and thickens out significantly along strike

The identified mineralisation is host to veins and fracture fill chrysocolla, as well as fine-grained copper sulphides which demonstrate an increase in volume between 250m and 260m downhole.

Addressing the results, Cobre Executive Chairman and Managing Director Martin Holland said: “This new copper discovery represents a transformational moment for Cobre shareholders.

This new copper discovery represents a transformational moment for Cobre Shareholders”

Cobre has never been in a better position from a project ownership, technical and operation perspective and now we have a promising copper intersection, on one of the most prospective Copper belts in the world.

This result, 1km away from the previous historic hole, shows the current mineralisation thickens over a 1km zone to date. The intersection of significant copper mineralisation in our diamond drilling campaign is testament to the high-calibre technical and operational expertise of our team in Botswana- led by Kalahari Metals Limited newly appointed CEO, Adam Wooldridge.

Our African exploration team has done a fantastic job getting the program underway, delivering positive results which have so far exceeded project expectations. 

We have prioritised this portion of the belt due to its favourable geological setting. These results, which confirm the presence of significant copper mineralisation, validate the district scale opportunity of Cobre’s, soon to be 100%-owned, extensive licence package within the Kalahari Copper Belt.”

The company also notes that drill hole NCP07 has successfully proved that mineralisation increases and thickens out ‘significantly’ along strike and are also considered anomalous for KCB, which is common at intersections on the fringes of copper deposits.

In addition, these promising drill results further highlight the scale opportunity of the drilling area, including 57 priority targets across KML’s licence holding within the northern region of the KCB.

The Ngami Copper Project is located within Botswana’s Kalahari Copper Belt and is prospective for copper mineralisation, with work completed to date including high resolution magnetic geophysics, soil sampling, 2,000m of drilling and a regional airborne electromagnetic survey.

The project area is located immediately east of KML’s Kitlanya West licences that currently boasts 57 ranked targets and well-defined gravity anomalies that are indicative of sub-basin architecture or structural thickening.

With results from the first drill hole returned, Cobre announces that it has moved forward with the second diamond drill-hole and is positioned a further 1km step out along strike.

The Ngami Copper Project is located near the northern margin of the 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.

The project is located immediately east of KML’s Kitlanya West licenses collectively covering a significant portion of prospective KCB stratigraphy.

Images: Cobre Ltd
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.