Cobre Limited (ASX:CBE) has had a morning full of positive momentum as investors flock to pick up shares at the start of exploration drilling for copper in Botswana.
In the last leg of lunch hour, the company’s share price is up nearly 30%.
Investor interest in copper resources remains strong with prices remaining high and tipped to increase.
Bullish sentiment for materials needed in batteries, and decarbonisation and electrification initiatives all capture copper as a lucky bystander.
In short: none of the above can take off without copper. Copper stocks have come to the fore at the same time lithium has skyrocketed along with other rare earths (and nickel.)
Early stage exploration drilling at Ngami is targeting the northern margin of Botswana’s Kalahari Copper Belt (KCB) geology.
The four hole program will be executed with a diamond drill rig following up on evidence indicating copper mineralisation extends beyond logged dimensions.
Two separate historical drill targets have turned up evidence of copper and silver at the northern end of the KCB.
Cobre notes that portion of the formation remains relatively unexplored.
Company management notes the KCB is a highly sought after bit of acreage, and hopes to see it turn into a new copper district.
“The KCB is one of the most prospective copper belts world-wide,” Executive Chairman Martin Holland said.
“We are thrilled to be recommencing exploration work with our Africa-based technical team and look forward to providing updates.”
Kalahari Metals also holds another licence nearby the northern KCB, called Kitlanya West.
Kitlanya is immediately adjacent the northern KCB at Ngami and boosts Kalahari’s total licence package to an impressive 500km worth of prospective target area.
While mineralisation across the entire area remains to be proven, the one clear thing is that investors are paying close attention.
One month performance for Cobre is up 31.5%; and over the last week, that figure sits at 66.6%.
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