Golden Deeps Unveils Spectacular Copper-Silver Hits at Namibia’s Graceland Prospect

Exploration Breakthrough at Graceland

Golden Deeps Ltd (ASX – GED) has delivered a compelling update on its Central Otavi Project in Namibia, where an aggressive exploration campaign at the Graceland Prospect is yielding spectacular results. The company’s recent rockchip and channel sampling revealed extraordinarily high grades of copper (up to 47.3%), silver (up to 7,792 g/t), zinc, lead, germanium, and antimony across multiple gossan outcrops within a 3-kilometre mineralised corridor. These findings echo the geochemical footprint of the world-class Tsumeb deposit located just 20 kilometres north, historically renowned for its rich polymetallic ore.

Geophysical Surveys and Drilling Plans

Building on these surface successes, Golden Deeps has initiated a detailed Induced Polarisation (IP) and Resistivity survey designed to detect sulphide mineralisation both near surface and at depths up to 300 metres. Early anomalies are being modelled in two dimensions, with plans for 3-D inversion modelling to refine drill targets. The company has already identified promising zones around the Gossan 1, Gossan 1 East, and Gossan 2 areas, with drilling contractors engaged to commence an initial drilling program once survey results are finalised.

Broader Project Portfolio and Regional Potential

Beyond Graceland, Golden Deeps is advancing exploration across five additional Tsumeb-type targets within the Central Otavi Project, as well as other Namibian prospects including Nosib and Khusib Springs. The company’s footprint extends to Australia’s Lachlan Fold Belt, where the Havilah Copper Project and Tuckers Hill Gold Project are under evaluation, and to Ontario, Canada, with cobalt-silver projects in the historic Cobalt Mining Camp. These diversified assets position Golden Deeps to capitalise on multiple critical and base metal opportunities.

Financial Position and Capital Raising

Golden Deeps reported exploration expenditure of $319,000 during the quarter, ending with a cash balance of $2.33 million. Importantly, post-quarter the company successfully completed a $3.54 million capital raising at 8 cents per share, with free attaching options exercisable at 10 cents. This fresh capital injection is expected to underpin the upcoming drilling campaign and further exploration activities, providing a solid financial runway for the company’s ambitious growth plans.

Outlook and Market Implications

The exceptional grades reported at Graceland, combined with the strategic geophysical work underway, suggest Golden Deeps is on the cusp of defining a significant polymetallic resource in a globally recognised mineral belt. While drilling results remain pending, the company’s methodical approach and recent capital raise signal confidence in the project’s potential. Investors will be watching closely as drilling commences and further assay results emerge, which could materially impact Golden Deeps’ valuation and position in the critical metals sector.