Golden Deeps’ Nosib Drilling Could Define Critical Copper-Silver Deposit Boundaries

Golden Deeps Advances Nosib Exploration

Golden Deeps Ltd (ASX: GED) has commenced a new diamond drilling campaign at its Nosib copper-silver deposit, located in the Otavi Mountain Land (OML) of northern Namibia. This program aims to test extensions of the stratabound copper-silver sulphide mineralisation previously identified at the project, following encouraging results from drilling completed in 2023 and a maiden resource announcement in mid-2024.

The Nosib deposit is notable for its copper-vanadium-lead-silver oxide and supergene mineralisation near surface, which transitions at depth into a primary copper-silver sulphide zone hosted within the Nosib Formation’s feldspathic sandstones and conglomerates. This geological setting is distinct from the predominantly carbonate-hosted deposits in the region, such as the famous Tsumeb mine, potentially offering a new style of mineralisation within the Otavi district.

Encouraging Drilling Results Set the Stage

Previous drilling, including hole NBSDD007, intersected a significant 44.22 metres grading 0.50% copper and 3.2 grams per tonne silver starting at just 34.8 metres depth. Within this interval, a semi-massive sulphide section returned an impressive 0.49 metres at 10.3% copper and 56.9 grams per tonne silver, highlighting the potential for high-grade zones within the broader deposit. Importantly, the copper-silver sulphide zone appears to thicken and increase in grade towards the west and at depth, areas that remain open and underexplored.

The current drilling program plans up to three diamond holes totaling approximately 330 metres, focusing on down-dip extensions of the known mineralisation and step-out targets spaced 20 metres apart to the west. The first hole is actively testing the down-dip extension of hole NSBDD0017, with subsequent holes designed to delineate the lateral continuity of the sulphide zone.

Strategic Position in a Rich Mining District

Golden Deeps’ Otavi Mountain Land tenements encompass several critical metals deposits, including the high-grade vanadium-lead-zinc Abenab project and the Khusib Springs silver-copper deposit, both of which have recently reported new mineral resources. The company’s dual focus also extends to the Lachlan Fold Belt in New South Wales, Australia, where it explores copper-gold targets in under-explored volcanic belts.

The ongoing exploration at Nosib fits within Golden Deeps’ broader strategy to unlock value from under-explored but highly prospective terranes. The unique stratabound copper-silver mineralisation at Nosib, combined with the district’s established mining history, positions the company well to potentially expand its resource base and attract further investor interest.

Looking Ahead

As drilling progresses, market participants will be watching closely for assay results that could confirm the anticipated extensions and grade improvements. Success here could materially enhance the project’s economics and underpin further development studies. However, as with all exploration, outcomes remain subject to geological variability and market conditions.