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This profile is part of a investor education campaign. The profile provides detailed information which was sourced and approved by Deep-South Resources in order to help investors make better investment decisions. The Company’s support of Investing News Network ensures we can continue to bring you unbiased, independent news and information.

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Deep-South Resources – Developing World Class Copper Project in Namibia

Overview

Deep-South Resources (TSXV:DSM) is advancing exploration on the Haib copper-molybdenum project located in the mining-friendly jurisdiction of Namibia. Deep-South recently signed an agreement with Teck Namibia, a subsidiary of Teck Resources Limited, that gives the company full ownership of the Haib project. The deal is representative of Deep South’s growth strategy which is focused on the exploration and development of quality assets, in significant mineralized trends, close to infrastructure and in stable countries.

With a stable democracy and economy, Namibia ranks as the best investment jurisdiction in Africa. Mining accounts for 12 percent of the country’s GDP. Namibia’s well-established mining policies are similar in structure to those of Canada and Australia, attracting several of the world’s major mining players including Rio Tinto, B2 Gold, De Beers, Areva and Exxaro.

The Haib project hosts one of the largest copper porphyry deposit in Africa and recent exploration by former owner Teck Namibia identified new high-grade zones with five highly prospective targets for further exploration. Deep-South is planning a 2017-2018 exploration program to better define those high-grade zones, grow confidence in the economics of the project, and to delineate a NI 43-101 compliant resource estimate.

Deep-South Resources is led by a strong management and exploration team with decades of experience in finance, mining and exploration in Africa, particularly in Namibia. President and CEO Pierre Léveillé has decades of experience as an executive and director of several African-based exploration companies, realizing over US$70 million in transactions and financing for Namibian and African mining exploration projects. VP Exploration Vivian Stuart-Williams is a geologist with nearly 50 years of experience in the mining and exploration industry, principally in the southern African region. He has been involved with the Haib project since the mid-1990s.

Investment Highlights 

  • One of the largest copper porphyry deposit in Africa hosting recently identified high-grade zones with numerous exploration targets.
  • Located in politically and economically stable country of Namibia—best investment jurisdiction in Africa; mining-friendly policies.
  • Large database of exploration work completed by past operators including Teck Namibia.
  • Planned 2017-2018 exploration program to focus on properly delineating high grade zones to improve project economics and complete a NI 43-101 resource estimate.
  • Tight Share Structure; largest shareholder is Teck Resources with 35 percent; Namibian investment group 25 percent; management and board 25 percent.
  • Management and technical team well-versed in exploration and mining in Namibia and other regions in Africa.

Key Project: Haib Copper-Molybdenum Project, Namibia

The Haib Project covers 37,000 hectares and hosts a large copper-molybdenum porphyry deposit discovered in the early 1900s. The deposit is approximately 2 kilometers long and 1 kilometer wide, extending from surface to over 800 meters deep. Haib is considered the oldest porphyry deposit in the world and contains easily identifiable porphyry veins and alteration.

Located in the Karas region of southern Namibia, the project lies 8 kilometers from the Orange River and the South African border, and 3 kilometers from main power lines and the main interstate highway which connects Namibia and South Africa. Other infrastructure in the project area includes the railway station at Grunau (100 kilometers from the property) which could provide access to multiple ports in the region.

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Historical exploration

Prior to 2008, more than US$30 million in exploration expenditures we carried out on the property. Historical exploration on the property includes more than 50,000 meters of drilling by companies including Rio Tinto and Falconbridge during the 1970s.

The project has a historical (non-compliant with NI 43-101) resource estimate which includes:

  • 739 million tonnes 0.29 percent copper or 4.3 billion pounds copper in-situ, 0.2 percent copper cut-off; and
  • 244 million tonnes at 0.37 percent copper or 1.9 billion pounds copper in-situ, 0.3 percent copper cut-off.

Only the top 350 meters of the deposit was used for the historical estimate.

High-grade discovery using modern exploration techniques

Teck Namibia took control of the Haib Project in 2008. Teck’s exploration program was on a more regional scale than previous operators and focused on determining the deposit’s potential for large-scale mining and improving the economics of the project by targeting higher-grade mineralization.

Between 2010 and 2015, the company completed a total of 14,252 meters in 32 diamond drill holes on the historically defined orebody, the eastern IP anomaly, and the Haib South and Haib West satellite targets.

Teck intersected higher grade copper near surface and at depth.

These results led to the discovery of near surface zones with significantly higher grades of copper mineralization (>0.5% Cu).

Mineralizating Trends—Main Haib Body

Teck’s drilling campaign also led to the discovery of an extension of known mineralization below the historical drilling within the Main Haib zone.

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Deep drilling at Haib intersects higher grade copper at depth.

“What is attractive about this project is that we have clearly defined high grade areas and Teck’s recent work shows that we can potentially increase the tonnage substantially because this porphyry system tends to open up as it goes deeper; especially between a depth of 300 and 500 meters below surface,” said Deep-South President and CEO Pierre Léveillé.

Teck Namibia has combined drilling and surface geological information to construct a provisional 3D geological model of the Main Haib zone.

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New exploration targets identified

Using IP surveys and coincident copper geochemistry, Teck identified five new satellite targets.

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Deep South’s 2017-2018 Exploration Program

Deep-South Resources is planning an extensive 2017-2018 exploration program aimed at completing a NI 43-101 compliant resource estimation and a new economic assessment of the project. The program will include drilling and detailed mapping of the newly discovered high-grade zones to determine tonnage and grade.

Management

John H. Akwenye, Chairman

John Akwenye is a Namibian retired lawyer with over 30 years of experience in business development in Namibia. From 1994 to 2008, he was Chairman of Guinas Investents (PTY) Ltd a Swapo owned investment company. He has been chairman of the Namibian Airports Company from 2001 to 2004. He is a Director of corporations such as Areva Resources Namibia and PE Minerals.

Pierre Léveillé, President and CEO

Pierre Léveillé has over 28 years of experience in the international financial sector and 20 years of experience in the mining exploration industry. Léveillé has started is career as a Stock Broker and Corporate Finance specialist with Lévesque, Beaubien, Geofrion and National Bank Financial. From the mid 1990s to today, he has been an executive and director of several exploration companies active in Africa. He has financed and managed exploration projects in Namibia since 1996 and has realized over US$70 million in transactions and financing for Namibian and African mining exploration projects.

Tim Fernback, Vice-President and Director

Tim Fernback has over 20 years of experience in the venture capital and investment banking industries. He is currently the Regional Director for the CFO Centre Limited, responsible for all operations in Western Canada. The CFO Centre is the world’s leading provider of part-time Chief Financial Officers for mid-tier businesses.  The company has over 350 active CFOs worldwide. Fernback holds an Honours B.Sc. from McMaster University, and holds a MBA with a concentration in Finance from the University of British Columbia. He Fernback holds a Certified Professional Accounting (CPA) designation in Canada and is currently director of several publicly traded companies in Canada.

Ryan Cheung, CFO and Director

Ryan Cheung is the founder and managing partner of MCPA Services Inc., a chartered professional accountant firm. His role is focused on business development, and managing all aspects of the Firm and professional services delivery. He started in 2002 at a boutique CA firm eventually moving on to a mid-sized CA firm and successfully wrote the Uniform Final Examination in September 2007. Cheung works closely with high net worth and self-employed individuals, private companies and public companies (TSX Venture listed) in various industries including general professional services, real estate, mining, and technology. He is currently director of several publicly traded companies in Canada.

Hugo Monette, Director

Hugo Monette is a professional engineer with a specialization in mechanical engineering. He has extensive experience in project management in the petrochemical and chemical industries and has acted as project manager for a consulting engineering firm that has conducted various assignments for several companies, including Shell Canada, Bitumar, Enerkem, Air Liquide and Petro-Canada. In 2014, he completed a Masters degree in Business Administration. He is a Director of Canada Strategic Metals: TSX-V-CJC.

Sadike Nepela, Director

Sadike Nepela serves as General Manager of Kalahari Minerals PLC. For a number of years, Nepela served as an Assistant to the Minister in the Namibian Ministry of Mines and Energy and most recently he has been the General Manager for Westport Resources, a subsidiary of Forsys Metals Corp.(listed on the TSX). He is also a Fellow of the International Centre for Research and Training in Major Projects Management, Montreal, Canada. Nepela is a graduate of the University of Witwatersrand, Johannesburg and has also studied at the University of Connecticut, West Hartford, USA.

Vivian Stuart-Willams, Vice-President Exploration

Vivian Stuart-Williams is a geologist with 46 years of experience in the mining and exploration industry, principally in the southern African region. He holds a M.Sc degree in uranium and he has been involved in base metals, gold, coal, and industrial mineral projects. Stuart-Williams has a worldwide exposure (including Liberia, Philippines, Afghanistan, Canada, Uzbekistan, Australia, Uganda, Mauritania and all of the Southern African countries). He has been involved with the Haib project from the mid-1990s as exploration manager and subsequently as a Technical Director (geology) for Deep-South Mining who held the mineral rights over the Haib Project during the recent exploration by Teck Namibia.

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