Cobre Reports Ngami Copper Project Assay Results, Further Drilling Planned

Explorer Cobre ( ASX:CBE) announced assay results from its Botswana-based Ngami copper project, saying the findings show the potential for high-grade discoveries along strike from known mineralisation.

The assay results include 20.05 metres at 0.85 percent copper and 19.6 grams per tonne (g/t) silver from 145.77 to 165.82 metres (downhole), including 10 metres at 1.32 percent copper and 27.7 g/t silver.

Drill holes NCP55 and NCP56 were planned to test the Cosmos target, which is located about 7.5 kilometres along strike from the Comet target, near a dense footwall source identified by airborne gravity gradient.

“These are great results, with both exploration holes demonstrating potential for a high-grade deposit to the northeast of the previous focus area at Comet,” said CEO Adam Woolridge in a press release.

“Importantly, we’re seeing anomalous mineralisation occurring over a strike length of more than 4km with further high-grade zones anticipated in the Cosmos target," he continued, adding that anomalous silver credits enhance the target.

In addition to higlighting high-grade discovery potential, Cobre said the assay results extend a roughly 40 kilometre zone that could support an in-situ copper recovery process, broadening the exploration target.

Located within the Kalahari Copper Belt in Botswana, Ngami holds an estimated scale of between 103 million and 166 million tonnes at 0.38 to 0.46 percent copper. The project has a 40 kilometre strike of copper-silver mineralisation, and has the potential to hold a large, moderate-grade deposit with smaller high-grade deposits.

The company said infill drilling is currently underway at Ngami to upgrade the Comet target to JORC standards after the completion of a resource estimate.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.