Early results from a 15-hole drilling program at the historic Nosib Block prospect in Namibia have unveiled a series of “exceptional” polymetallic intersections for owner Golden Deeps (ASX: GED).
The first eight holes of the program have intercepted high-grade copper with several also encountering strong lead grades and shallow high-grade vanadium mineralisation.
One of the holes returned 10m at 2.65% copper, 10.7% lead, 3.12% vanadium and 7.79 grams per tonne silver from 3m.
Other highlights were 24m at 1.33% copper, 4.77% lead, 1.37% vanadium and 3.67g/t silver from 3m, including 6m at 3.67% copper, 14.9% lead, 4.40% vanadium and 12.16g/t silver from 6m; and 18m at 2.01% copper, 3.37% lead, 0.43% vanadium and 4.35g/t silver from 13m, including 7m at 3.73% copper, 3.39% lead, 0.14% vanadium and 5.12g/t silver from 21m, and 1m at 7.72% copper, 1.06% lead, 0.14% vanadium and 6.44g/t silver from 25m.
Still pending are results from a hole which intersected a 5m interval of semi-massive copper sulphides from 10m depth (approximately 8.6m below surface) within a broader zone of copper mineralisation including malachite and azurite.
Significant mineralisation was also uncovered in another hole including a 15m zone of disseminated copper sulphides from 55m and a 21m zone of copper (malachite) from 23m.
Source of great value
Golden Deeps’ newly-appointed chief executive officer Jon Dugdale said the thick and high-grade polymetallic mineralisation at Nosib Block could be the source of great value for the company.
“The shallow depth, significant thicknesses and exceptional grades of copper, lead, and, in several holes, vanadium are extremely encouraging,” he said.
“With the price of these key battery metals rapidly appreciating, we are looking forward to continuing to drill this potentially very high-value, polymetallic deposit.”
Historic development
Historically, the high-grade Nosib Block mine was developed on three levels to a depth of 120m; however there was no mining undertaken between the levels.
For the first time since the mine ceased production in 1920, Golden Deeps is testing between the levels to a depth of up to 80m below surface and for a strike length of less than 80m.
Results received so far support the intersections produced from previous underground sampling by the company’s geologists.
These include 6m at 9.3% copper, 4.72% lead and 7.92g/t silver; and 6m at 1.51% copper, 10.59% lead, 7.15g/t silver and 1.12% vanadium.
Thick intervals of copper mineralisation have also been intersected above and below the historic works and include 44m at 0.74% copper from 46m and 43m at 0.64% copper with the zones remaining open at depth and along strike.
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