Golden Deeps has pushed deeper into its high-grade Graceland corridor in Namibia, intersecting substantial copper, zinc, lead, silver, germanium, and antimony mineralisation and gearing up for a follow-up drilling campaign targeting blind sulphide anomalies.
- Deepest diamond drillhole intersects 8.8m mineralised zone at Graceland
- New drilling targets three induced polarisation sulphide anomalies
- Exceptional previous grades include up to 34.8% copper and 1,317 g/t antimony
- Exploration extends across multiple Tsumeb-type prospects in Namibia
- Cash position stands at $4.28 million with $343k quarterly expenditure
Deepening the Hunt at Graceland
Golden Deeps Ltd (ASX:GED) has delivered a significant step forward in its Namibian exploration campaign by completing its deepest diamond drillhole yet at the Graceland prospect within the Central Otavi Project. The hole, GLBPD009, penetrated an 8.8-metre downhole zone heavily mineralised with zinc, copper, and lead hosted in sheared and brecciated dolomite, featuring oxidised fault zones and sulphide stringers. This marks the first time the company has drilled through the entire mineralised zone below the high-grade Gossan 1 surface expression.
Earlier shallow drilling at Gossan 1 and Gossan 1 East had already revealed spectacular grades, including up to 34.8% copper, 388 g/t silver, and 1,317 g/t antimony in surface gossans, and high-grade intersections such as 3.48 metres at 7.6% copper equivalent (CuEq) beneath the gossans. These results confirm the prospect’s affinity with the world-class Tsumeb deposit nearby, known for its polymetallic richness.
New Drilling Campaign Targets Sulphide Anomalies
Building on these encouraging results, Golden Deeps is poised to embark on a new deeper diamond drilling program aimed at three induced polarisation (IP) chargeability anomalies within the 800-metre strike-length Gossan 1 Corridor. Stage 1 of this program will drill 10 holes within the upper 100 metres, focusing on sulphide targets down plunge of the known high-grade gossan zones. Stage 2 will extend testing to deeper extensions and a blind eastern IP anomaly with no surface expression, which is the strongest chargeability target identified to date.
Preparations for this campaign are well advanced, with access roads and drill sites nearly ready and water supply provisions in place. The program aims to delineate sulphide mineralisation that could underpin a significant polymetallic resource analogous to Tsumeb’s famed deposits.
Expanding Exploration Across Otavi Mountain Land
Beyond Graceland, Golden Deeps continues to explore other Tsumeb-type targets within its extensive Otavi Mountain Land tenure. Soil and rockchip sampling are underway at the South Ridge copper-lead-zinc-silver prospect and Butterfly North, where previous IP surveys have highlighted high-chargeability anomalies. Results from these programs are pending and expected to generate further drill targets.
The company also holds advanced projects like the Border Zn-Pb-Ag resource and prospects at Driehoek and Kaskara, which are under evaluation for extensions and deeper targets. Meanwhile, the Nosib West tenement, located near the company’s Nosib vanadium-copper-lead-silver discovery, is being assessed for further high-grade copper-silver deposits, leveraging promising soil sampling results.
Diversified Portfolio and Solid Financial Position
Golden Deeps maintains a diversified project portfolio, including uranium tenement applications near the Langer Heinrich uranium mine in western Namibia, a historically significant deposit operated by Paladin Energy (ASX:PDN). In Australia, the company holds over 300 square kilometres of tenements in the Lachlan Fold Belt, NSW, with projects targeting copper, gold, silver, and zinc mineralisation, including the Havilah Copper Project and the Tuckers Hill Gold Project.
In Canada, Golden Deeps owns the Professor and Waldman cobalt-silver projects in Ontario’s historic Cobalt Mining Camp, which are currently being marketed for potential sale.
Financially, the company reported net expenditure of $343,000 for the quarter, primarily on exploration and evaluation activities, and ended June 2026 with a cash balance of $4.28 million. Director fees and related party payments were modest at $21,000.
Assays Pending and Next Steps
While visual estimates from the recent drilling provide strong encouragement, Golden Deeps cautions that laboratory assays are required to confirm grades and intervals. These results are expected within one to two weeks and will be critical in refining the upcoming drilling program and advancing resource evaluation.
The company’s upcoming deeper drilling campaign, combined with ongoing sampling at other prospects, positions Golden Deeps to potentially unlock significant polymetallic deposits in a region known for world-class mineralisation. The market will be watching closely as assay results and drilling progress unfold over the coming months.
Bottom Line?
Golden Deeps’ deeper drilling at Graceland could unlock substantial polymetallic sulphide resources, but assay results will be pivotal to validating visual mineralisation and guiding the next exploration phase.
Questions in the middle?
- Will the imminent assay results confirm the high-grade visual mineralisation observed in the deepest drillhole?
- How will the company prioritise drilling targets within the large, blind eastern IP anomaly at Graceland?
- What impact will the uranium tenement applications near Langer Heinrich have on Golden Deeps’ strategic focus and capital allocation?