Cobre (CBE) shares soar after unearthing a second intersection of copper mineralisation at the Ngami copper project in Botswana.
Cobre (CBE) shares have soared after unearthing a second intersection of copper mineralisation at the Ngami copper project in the Kalahari copper belt in Botswana. The company reported findings of “abundant” chalcocite mineralisation in its second drill hole.
The copper mineralisation occurred in a 25-metre interval downhole, showing a significant increase in chalcocite mineralisation over a 12-metre interval.
Cobre said the intersection demonstrates the mineralisation occurs from around 55 metres depth below surface, over a strike length of greater than two kilometres. Cobre said the drill results highlight the district scale opportunity, which includes 57 priority targets across Kalahari Metals’ (KML) license holding on the northern margin of the Kalahari copper belt.
“The Ngami Copper Project in Botswana is demonstrating exceptional promise with this outstanding copper intersection which confirms that we are potentially sitting on a new copper discovery within the Kalahari Copper Belt,” Cobre Executive Chairman and Managing Director Martin Holland said.
“This has been a phenomenal start to our drilling programme, which includes a total of 57 high-priority targets and is only just the beginning.
“Moving forward, our focus remains on drilling out this exciting target whilst defining high-grade zones of copper and base metals mineralisation over our extensive landholding.”
A third diamond hole is now in progress, positioned a further one kilometre along strike to the southwest.
Cobre was up 74.4 per cent, trading at 15 cents at 11:49 am AEST.
