Announcement Date: 2022-10-24
Announcement Type: Exploration Update
Announcement Code: JORC
Company name: Cobre Ltd.
Project name: Ngami
Location: Botswana
Commodities: Copper
Highlight: New copper zone has intersected
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Cobre Limited (ASX: CBE, Cobre or Company) is pleased to announce results from its first diamond drill hole into a new set of exploration targets in the vicinity of the recent Comet Target on Kalahari Metals Limited’s (KML) NCP licenses (Refer Figure 1). Drill hole NCP21 intersected a 12m zone of anomalous copper mineralisation consisting of chrysocolla and fine-grained chalcocite which occurs from 117 – 129m downhole. The hole was designed to test a TerraleachTM partial digest soil1 anomaly which occurs in proximity to a compelling structural jog and large demagnetised zone identified in high-resolution magnetic data (Refer Figure 2). 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. Importantly, Nova is located only 10km along strike from ongoing drilling at Comet demonstrating the potential for multiple,structurally controlled copper deposits within the NCP project area.
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