Just the Facts: Cobre expands Botswana copper potential with promising NCP56 results
09/12/2024
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Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Cobre Ltd (ASX: CBE).
The company has provided an update on its 2024 exploration program at the Ngami Copper Project (NCP) in Botswana’s Kalahari Copper Belt. Drill hole NCP56, located 2 kilometres from NCP55 and 7.5 kilometres from the Comet target, intersected widespread chalcocite mineralisation between 159 and 192 metres downhole, with grades ranging from 0.1% to 4% based on visual estimates and pXRF readings. Laboratory assay results are expected in February 2025.
These findings from the new Cosmos target suggest that copper mineralisation identified in NCP42 (15 metres at 0.5% copper and 13 g/t silver) may extend over 4 kilometres. The mineralisation is hosted in fine-grained cleavage and fractures, making it suitable for acid leaching and in-situ copper recovery (ISCR).
Cobre has completed 4,500 metres of infill drilling at the Comet Target, progressing towards refining the exploration target and establishing a JORC-compliant resource. The company sees these results as validating the continuity of mineralisation along the strike, reinforcing the significant potential of the Cosmos target area within NCP.
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