Golden Deeps (GED) has reported high-grade copper-lead-silver-vanadium intersections at its Nosib Block prospect.
Located in the copper district of Namibia, the company says intersections at the site are part of a thick mineralised zone that extends from surface over a downhole.
A true thickness intersection of 45.8 metres at average grades of one per cent copper, 2.5 per cent lead and 4.6 grammes per tonne gold.
The program at Nosib includes up to eight diamond drill holes for approximately one-kilometre of drill core.
Additionally, a diamond drill hole targeting a deeper copper-silver has reportedly intersected a 32-metre zone from 71 metres, containing copper-sulphide mineralisation including grading up to six per cent copper.
Golden Deeps said further diamond drilling at Nosib is currently testing the shallow, high-grade, copper-lead vanadium zone along strike to the northeast. Then it will continue testing of the deeper sulphide zone to determine the potential for high-grade copper-silver mineralisation at depth.
The company said diamond drilling is also planned at its Khusib Springs deposit, 15 kilometres east of Nosib. The deposit has reportedly produced 300 thousand tonnes, with up to 10 per cent copper and 584 grammes per tonne silver oxide.
Golden Deeps CEO, Jon Dugdale, says he sees potential in the discovery.
“Copper, lead and vanadium are key battery metals and Golden Deeps has the opportunity to become a key player in the supply of battery pre-cursors for the rapidly growing EV and renewables markets,” he said.
Shares in the company are up 16.7 per cent to 1.4 cents at 11:47 am AEDT.
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