- Golden Deeps (GED) intersects a 96m zone of copper sulphide mineralization from drilling in Namibia’s copper district in the Attavi Highlands.
- The zone was intersected in the first well of the program aimed at expansion and repetition to the Husib Springs field
- Portable XRF readings of the hole showed up to 36 percent copper, 3.6 percent zinc and 5,936 g/t silver
- At the same time, an electromagnetic survey of a large moving loop was completed near Husib Springs, with a large electromagnetic conductor identified, and the next hole is in progress
- Golden Deeps was down 29.4 per cent on the market with shares trading at 1.2 cents at 12:43pm AEDT
Golden Deeps (GED) intersected a 96m zone of copper sulphide mineralization in the Namibian Copper District in the Attavi Highlands.
The company has drilled seven of the nine diamond wells planned for the expansion and repetition of its Husib Springs copper-silver deposit.
The first well intersected T3 dolomite with thin and loose copper sulfides and pyrite from 385 to 442 meters.
In addition, it intersected a zone of massive or semi-massive sulfide stringers and disseminated tennantite from 442 to 481 meters.
Portable XRF readings on this first hole averaged 0.9 percent copper and 0.2 percent zinc with peak spot readings of 36 percent copper, 3.6 percent zinc, and 5,936 grams per tonne (g/t) silver.
A second hole, drilled 30 meters southwest of the first hole, intersected periodic sulfide mineralization between 374 and 535 meters.
Both of these wells will now be subjected to downhole electromagnets (DHEM) to determine the downhole and outhole extents.
CEO John Dugdale said he was inspired by the intersection at Husib Springs and was looking forward to DHEM’s work.
“Opening expansions or repeating this very high-grade copper-silver deposit would be a game-changer for Golden Deeps and provide a springboard to resume development from the existing Husib Springs mine.” said Mr. Dugdale.
Simultaneously, an electromagnetic (EM) survey of a large moving loop was completed southwest of Husib Springs.
The first loop revealed a relatively large electromagnetic conductor that may represent copper-silver sulfide mineralization and/or a low-angle faulted conductor.
Diamond drilling is now underway to test the conductor, and additional drilling will be conducted if sulfides are intersected.
Mr Dugdale said the cross-linking of sulphides associated with electromagnetic conductors would be a “significant breakthrough”.
Golden Deeps was down 29.4 per cent on the market with shares trading at 1.2 cents at 12.43pm AEDT.