Golden Deeps (GED) has announced the first diamond hole of its drilling program at the Nosib Block prospect has intersected high-grade copper mineralisation.
The company is undertaking an eight-hole, 1000-metre diamond program at the Nosib Block prospect which is located in Namibia’s “world-class” Otavi Copper District.
Drilling is designed to define and extend the shallow, high-grade copper-lead-vanadium zone that previously returned high-grade intersections.
The initial diamond hole was drilled to a depth of 80.5 metres and intersected high-grade copper mineralisation from 6.4 metres to 12.3 metres downhole. Further copper-lead-vanadium mineralisation was intersected to 45.7 metres downhole.
While assays are yet to be received, hand-held XRF analysis readings showed drill core averaging 6 per cent copper and peak grades of 12.5 per cent.
Golden Deeps will also conduct deeper drilling to test potential for a major strata-bound copper-silver deposit at depth.
In addition, the company has set its sights on drilling the Khusib Springs prospect which is located about 15 kilometres from Nosib. This drilling will test for a repeat of the high-grade shoot that produced around 300,000 tonnes at 10 per cent copper and 584 grams of silver per tonne in the 1990s.
Company shares ended the day 9.09 per cent in the green to close at 1.2 cents.
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