Cobre Limited reports promising assay results from diamond drilling at its Ngami Copper Project in Botswana, revealing significant copper and silver mineralization over a 4km strike. The findings bolster prospects for advancing the Comet target towards a formal resource estimate.
- NCP55 and NCP56 drill holes confirm high-grade copper-silver mineralization
- Mineralization extends over 4km strike length at Cosmos target
- Assays include up to 2.2% Cu and 45.2 g/t Ag over 4.3m
- Ongoing infill drilling aims to upgrade Comet target to JORC resource
- Potential for In-Situ Copper Recovery (ISCR) process highlighted
Exploration Breakthrough at Ngami Copper Project
Cobre Limited (ASX:CBE) has announced compelling assay results from its latest diamond drilling campaign at the Ngami Copper Project (NCP) in Botswana’s prolific Kalahari Copper Belt (KCB). The recent drill holes, NCP55 and NCP56, targeted the Cosmos prospect, situated approximately 7.5 kilometres along strike from the previously identified Comet target. These results reveal significant copper and silver mineralization, reinforcing the project's potential for a high-grade discovery.
The standout intercepts include 20.05 metres grading 0.85% copper and 19.6 grams per tonne silver in NCP55, with higher-grade zones within this interval reaching 2.2% copper and 45.2 g/t silver over 4.3 metres. NCP56 returned 26.5 metres at 0.55% copper and 12.2 g/t silver. These grades and widths are notable for sediment-hosted copper deposits and place Cosmos among the more promising targets within the NCP.
Extending the Mineralized Footprint
The assay results confirm anomalous mineralization extending over a strike length exceeding 4 kilometres at Cosmos, a significant expansion beyond the previously drilled zones. This discovery aligns with airborne gravity gradient data that identified a dense footwall source, a geophysical signature often associated with copper mineralization in the KCB. The presence of high silver credits alongside copper further enhances the economic appeal of the deposit.
Importantly, the mineralization style, dominated by fine-grained chalcocite along structural planes, is amenable to acid leaching, supporting Cobre’s strategy to develop an In-Situ Copper Recovery (ISCR) process. This approach, if successful, could offer a lower-cost, environmentally sensitive extraction method, similar to projects like Taseko Mines’ Florence Copper deposit in Arizona.
Advancing Towards a JORC Resource
Alongside exploration at Cosmos, Cobre is conducting infill drilling at the Comet target to upgrade part of the exploration target into a JORC-compliant Mineral Resource Estimate. This step is critical for de-risking the project and attracting further investment. The ongoing drilling program, totaling approximately 4,800 metres, aims to delineate the extent and continuity of mineralization, providing a clearer picture of the deposit’s economic potential.
CEO Adam Wooldridge highlighted the significance of these results, noting the potential for a high-grade deposit northeast of Comet and the encouraging silver credits that add value. The company’s methodical approach, combining geophysical targeting with rigorous sampling and assay protocols, underscores its commitment to building a robust resource base.
Context Within the Kalahari Copper Belt
The Ngami Copper Project sits near the northern margin of the KCB, a region known for sediment-hosted copper-silver deposits formed along the redox boundary between oxidized and reduced sedimentary units. Cobre’s exploration strategy leverages this geological setting, targeting the extensive sub-cropping contact between the Ngwako Pan and D’Kar formations, which hosts multiple known deposits.
Previous exploration by major players like BHP laid groundwork, but Cobre’s recent geophysical surveys and extensive soil sampling have refined target areas, enabling more focused drilling. The company’s integration of airborne gravity data with geological models has been instrumental in identifying new mineralized zones such as Cosmos.
Looking Ahead
With assay results confirming significant copper-silver mineralization and ongoing drilling to upgrade resources, Cobre is well-positioned to advance the Ngami Copper Project towards development. Further metallurgical testing and hydrogeological studies are underway to validate the ISCR approach and optimize recovery rates. As the company continues to unlock the potential of this underexplored belt, market watchers will be keenly observing upcoming drilling results and resource updates.
Bottom Line?
Cobre’s latest drilling success at Ngami signals a promising step towards a high-grade copper-silver resource with innovative recovery potential.
Questions in the middle?
- How will ongoing infill drilling at Comet impact the upcoming JORC Mineral Resource Estimate?
- What are the preliminary metallurgical recovery rates from ISCR test work on Cosmos mineralization?
- Could further geophysical surveys reveal additional high-grade zones along the 40km prospective contact?