Cobre identifies new copper zone with initial Nova target hole at Ngami Project in Botswana

Cobre (ASX: CBE) is excited to share preliminary results from a maiden diamond drill hole targeting newly identified copper exploration targets near the recent Comet target on Kalahari Metals Limited’s Ngami Copper Project (NCP) licences in Botswana.

Anomalous copper

Generated using low detection limit partial leach sampling, the targets yielded 12 metres of anomalous copper mineralisation consisting of fine-grained chalcocite plus chrysocolla, occurring from 117 to 129 metres downhole.

Drill hole NCP21 is the first of eight planned diamond holes designed to test a new set of copper in soil targets in the vicinity of ongoing infill drilling at the existing Comet target.

The hole was designed to test a Terraleach partial digest soil anomaly which occurs in proximity to a compelling structural jog and large demagnetised zone identified in high-resolution magnetic data.

Closeness to Comet

In addition to establishing an exciting new copper target, results demonstrate the effectiveness of the exploration methodology in areas with thicker cover, providing Cobre with a fast-track approach for developing new copper targets.

Nova lies 10km to the southwest of the recently discovered Comet Target (‘Comet’), which makes management optimistic of greater potential for multiple structurally controlled copper deposits within the NCP project area, which lies within the Kalahari Copper Belt.

The demagnetised zone is potentially indicative of hydrothermal alteration associated with the mineralising event, providing support for a larger scale target.

Further drilling is planned to test the extent of mineralisation across this newly identified Nova Target.

Samples

To date, results from 55% of the 5,000 samples submitted for partial-digest, low detection limit assays have been received with the remaining results expected by the end of November.

These results will be combined with an additional 8,500 samples from the Company’s neighbouring Kitlanya West Project to assist with prioritisation of further targets across this extensive emerging copper district.

So far 13 diamond holes have been completed on the current Comet Target.

Drilling is ongoing with visuals in several holes.

Assays on all outstanding diamond holes are still pending.

A significant exploration milestone

Commenting on the intersection of this new copper zone, managing director, Martin Holland, notes intersecting further copper mineralisation at a distinct new target (Nova), 10 kilometres away from current drilling at Comet, is a significant exploration milestone.

As well as validating the company’s targeting strategy and methodology, Holland believes the identification of anomalous copper mineralisation at the Nova target represents an important indicator of the significant scale opportunity unfolding in this exciting new copper district.

“Cobre’s current focus on exploration at NCP is based on the potential we see for the expansion of our footprint in this highly prospective district as we continue to unlock multiple distinct copper targets,” Holland said.

“We are currently undertaking a diamond drilling program to infill higher-grade portions of our Comet Target, with a second drill rig secured to test the extent of mineralisation at the newly identified Nova Target before moving onto additional new targets in the vicinity.”

New targets for 2023 exploration

In addition to an ongoing drill program at NCP, an extensive soil sampling program on the neighbouring 2,000-square-kilometre Kitlanya West Project is nearing completion.

This data will be used to prioritise additional new targets for the company’s 2023 exploration campaign to potentially unlock a potential new copper district in Botswana.

Cobre Ltd was up 6.90% at noon today.

Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Cobre was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.