- Cobre (CBE) reports “one of the best” copper intersections to date at the Kalahari Copper Belt
- Results include an “exceptional” assay of 1.7 metres at 10.9 per cent copper and 45 grams per tonne gold from 155.3 metres to 157 meres downhole
- This result comes from a single drill hole at the Comet target, within the Ngami copper project in Botswana
- Cobre says that based on the results, there’s potential for several similar high-grade zones to occur along the four-kilometre length of Comet
- Shares in Cobre are up 6.82 per cent, trading at 23.5 cents as of 11:29 am AEDT
Cobre (CBE) has reported “one of the best” copper intersections to date at the Kalahari Copper Belt, which extends from northern Botswana into eastern Namibia.
The company received assays from the NCP20A hole at the Comet target, within the Ngami copper project in Botswana.
Results confirmed visual copper mineralisation estimates with grades averaging 1.25 per cent copper and 17 grams per tonne (g/t) gold from 128 metres to 158 metres downhole.
Best results include 1.7 metres at 10.9 per cent copper and 45 g/t gold from 155.3 metres to 157 meres downhole in NCP20A.
Further, the result falls into the upper two per cent of drill hole intersections from other known deposits within the Kalahari copper belt which the company said further highlighted the significance of the result received.
Executive Chairman and Managing Director Martin Holland said the latest results highlight the potential for an economic deposit to be uncovered, believing there is “much more to come”
“In particular, the significance of the NCP20A copper intersection corroborates the company’s previously reported visual estimates which further reaffirms our exploration methodology and the high calibre of our African-based technical team on the ground,” Mr Holland said.
“Our focus continues to be aimed at identifying new targets and proving up the high-grade zones within these.”
Based on results, there is potential for several similar structurally controlled high-grade zones to occur along the four-kilometre length of Comet.
Currently, the company’s diamond drilling is ongoing with a regional exploration drilling update due shortly.
Shares in Cobre were up 6.82 per cent, trading at 23.5 cents as of 11:29 am AEDT.