Ngami Project’s New Zone Raises Questions on ISCR Viability and Scale

Expanding the Ngami Copper Footprint

Cobre Limited (ASX: CBE) has announced encouraging results from its ongoing infill drilling program at the Comet Target, part of its wholly owned Ngami Copper Project (NCP) located in Botswana's prolific Kalahari Copper Belt. The latest assays reveal a newly delineated broad zone of copper-silver mineralisation, extending the known footprint of the deposit and reinforcing the project's potential scale.

Among the highlights are drill hole NCP63, which intersected 18.73 metres grading 0.53% copper and 11 grams per tonne silver, including a higher-grade segment of 3.14 metres at 1.0% copper and 20 grams per tonne silver. Similarly, NCP64 returned 16.33 metres at 0.52% copper and 14 grams per tonne silver. These results complement earlier high-grade intersections, such as the 9.3 metres at 3.4% copper and 30 grams per tonne silver reported in 2022, suggesting a complex but promising mineralised system.

Strategic Resource Development and ISCR Potential

The infill drilling campaign, comprising ten diamond drill holes totaling 3,420 metres, aims to convert approximately 2.5 kilometres of the 4-kilometre Comet Target strike into a resource category. With assay results pending from the final two holes, Cobre is poised to commence a Mineral Resource Estimate (MRE), for which it has engaged Australian engineering consultancy WSP. WSP's expertise in injection-recovery projects aligns well with Cobre's proposed In-Situ Copper Recovery (ISCR) process, an innovative approach that could unlock value by extracting copper directly from the orebody without conventional mining.

Geologically, the mineralisation is sedimentary-hosted and structurally controlled, occurring along the redox boundary between oxidised and reduced sedimentary formations. The copper occurs predominantly as fine-grained chalcocite, which is amenable to acid leaching, a key requirement for ISCR. The presence of well-developed fracture zones below the water table further supports the feasibility of this extraction method.

Robust Technical Foundations and Next Steps

Cobre's drilling and sampling protocols adhere to industry best practices, with comprehensive quality assurance and quality control measures ensuring data reliability. The company has also conducted metallurgical testing, including bottle roll leach tests, to better understand copper recoverability. Environmental and permitting studies are underway to support future development phases.

Looking ahead, the market will be watching closely for the completion of the MRE and the full suite of assay results, which will provide a clearer picture of the project's scale and grade distribution. The Ngami Copper Project's similarities to established ISCR operations in Arizona add a layer of optimism, though economic and technical validation remains critical.