Golden Deeps Reports 538 g/t Gallium and 16.2 Mt Zinc-Lead Resource in Q1 Update
Golden Deeps Ltd reports significant high-grade critical metals discoveries at its Nosib prospect in Namibia and secures an 80% stake in the Central Otavi Critical Metals Project, boosting its strategic position in the critical metals sector.
- High-grade gallium, copper, vanadium, lead, silver, germanium, and antimony confirmed at Nosib prospect
- New diamond drilling extends polymetallic mineralisation westward and at depth
- Acquisition of 80% interest in Central Otavi Critical Metals Project with multiple advanced zinc-lead-silver and vanadium prospects
- Promising copper, zinc, silver, and gold exploration progress in Lachlan Fold Belt, NSW
- Strong cash position of $3.44 million supports ongoing exploration and metallurgical testwork
Critical Metals Breakthrough at Nosib
Golden Deeps Ltd has delivered a compelling update for the quarter ended 31 March 2025, spotlighting its advancing critical metals exploration in Namibia’s Otavi Mountain Belt. The Nosib prospect continues to impress with high-grade intersections of gallium oxide (Ga2O3) reaching up to 538 g/t, alongside significant copper, vanadium, lead, silver, germanium, and antimony. These polymetallic saprolite zones, extending from surface to 50 meters depth, remain open for expansion, underscoring the prospect’s potential as a strategic source of critical metals.
Recent diamond drilling west of the known high-grade zone confirmed the continuity of stratabound copper-silver sulphide mineralisation, with notable intercepts such as 27.3 meters at 0.38% copper and 2.56 g/t silver. This suggests a substantial sulphide deposit that warrants further delineation.
Strategic Acquisition of Central Otavi Project
Post-quarter, Golden Deeps secured an 80% interest in Metalex Mining and Exploration Pty Ltd, gaining control over the Central Otavi Critical Metals Project. This acquisition adds over 390 square kilometers of tenure in a prolific metallogenic province, including the Border zinc-lead-silver deposit with a JORC Inferred Resource of 16.2 million tonnes at 2.12% Zn+Pb and 4.76 g/t Ag. The project also encompasses advanced prospects like Driehoek and Kaskara, which host high-grade zinc, lead, vanadium, copper, and germanium mineralisation.
The Kaskara prospect is particularly notable for its vanadate breccias, with drilling intercepts up to 4.31% V2O5 and significant lead, zinc, and copper grades, alongside exceptional germanium values reaching 333 g/t. Upcoming exploration will focus on soil and rockchip sampling, geophysical surveys, and targeted drilling to unlock further resource potential.
Exploration Momentum in Australia’s Lachlan Fold Belt
Golden Deeps’ Australian projects in New South Wales continue to advance, with the Havilah Copper Project delivering encouraging drill results including copper-zinc-silver mineralisation intersected over significant widths. The company is also progressing access agreements at the Tuckers Hill Gold Project, situated along the prolific Hill End gold corridor, where historical sampling has returned assays up to 28 g/t gold across multiple lode structures.
Additional exploration at the Acros and Crown tenements has identified extensions of altered volcanic rocks and geochemical anomalies, setting the stage for further work to define porphyry-style mineralisation targets.
Financial Position and Outlook
Golden Deeps reported net expenditure of $431,000 for the quarter, with exploration costs of $198,000, supported by a healthy cash balance of $3.44 million at quarter-end. The company’s disciplined capital management and strategic acquisitions position it well to advance metallurgical testwork and drilling programs aimed at resource expansion and optimisation.
With global supply constraints on critical metals like gallium and germanium intensifying, exacerbated by China’s export restrictions, Golden Deeps’ Namibian projects could emerge as vital alternative sources. The company’s integrated approach across multiple commodities and jurisdictions reflects a forward-looking strategy aligned with evolving market demands.
Bottom Line?
Golden Deeps’ expanding critical metals portfolio and robust cash position set the stage for a pivotal year of resource definition and market positioning.
Questions in the middle?
- How will upcoming metallurgical testwork impact the economic viability of gallium and germanium recovery at Nosib?
- What are the timelines and capital requirements for advancing the Central Otavi Project towards resource upgrade and development?
- How might evolving global critical metals supply dynamics influence Golden Deeps’ strategic partnerships and off-take opportunities?
