Golden Deeps (ASX:GED) has updated the resource estimate for the Khusib Springs deposit, reflecting its potential for thick extensions of silver-copper mineralisation to the west and at depth.
The new resource estimate for the deposit, which lies in Namibia, contains 1.9 million ounces of silver equivalent in the indicated and inferred categories.
CEO Jon Dugdale says the increasing silver price triggered a review and new mineral resource modelling and targeting, based on new mineralisation uncovered below the Khusib Springs deposit.
“Examination of the company’s recent drill core indicates that the mineralisation is associated with evenly distributed blebs and clots of the high silver bearing sulphide mineral tennantite, over an approximate true-width thickness of over 90m,” Dugdale says.
“Initial mineral resource modelling has shown potential for this thick zone of silver-copper mineralisation to extend to the west of the company’s previous drilling, where the zone may re-develop into a massive sulphide zone, similar to the deposit previously mined.
“Further drilling will be planned based on this new mineral resource model, offering potential for the discovery of further high-grade silver-copper resources for development at Khusib Springs.”
Previous intersections, incorporated into the new resource model, include 90m @ 83 grams per tonne (g/t) silver equivalent, including 69m @ 100g/t silver equivalent and 28m @ 156g/t silver equivalent.
The company reports that the newly identified silver-copper zone remains open to the west and at depth, where potential exists for further massive sulphide mineralisation. Additional drilling is planned to extend the zone, as well as target repeats of the ‘high-grade’ silver-copper zone mined historically.
Golden Deeps notes that the model also includes tenant ‘high-grade’ material around the previously mined massive sulphide deposit.
The Khusib Springs deposit is analogous to the Tsumeb deposit, which lies 40km to the north-west and produced 27 million tonnes at 4.3% copper, 10% lead, 3.5% zinc, and 95g/t silver.
Golden Deeps is an explorer and developer focused on the terranes of the Lachlan Fold Belt copper-gold province of New South Wales, and the Otavi Mountain Land copper-lead-zinc-silver and vanadium district of Namibia.
Write to Aaliyah Rogan at Mining.com.au
Images: Golden Deeps
