High grade copper found at old site
An Australian metals exploration company has discovered high grade copper at the Deblin Copper Mine in Grootfontein.
Golden Deeps announced the discovery Thursday after a four-hole reverse circulation drilling programme. The programme was targeting historic drill intercepts from the 1970s, while providing geological, structural and mineralogical information, and also testing new interpretation of the mineralisation geometry.
Highlights of the drilling programme include: 8 metres at 1.28% copper and 2g/t silver from 87 metres, including 3 metres at 2.96% copper and 4.83g/t silver; and 7 metres at 3.23% copper and 7.93g/t silver from 169 metres, including 3 metres at 6.08% copper and 17.67g/t silver. More importantly, Golden Deeps says the mineralised zone is open in all directions, while also extending the known deposit. The company sees almost unlimited potential in further exploration along clearly defined mineralisation lines.
The Deblin Prospect is one of several copper prospects along the 30km Askevold Copper Trend in the Otavi Mountains. The area is a globally significant base metals province, and includes the now closed Tsumeb mine which produced 24.9 million tonnes at 5.5% copper, 11.8% lead and 171g/t silver. The Deblin Copper Mine is also located in the same region that hosts the Tsumeb Copper Mine and Smelter Complex, and the Kombat Mine, which produced 8.7 million tonnes at 3.1% copper, 1.1% lead and 26g/t silver.
In addition to the Deblin discovery, another zone of strong outcropping copper mineralisation has been identified over at least 1km of strike at the Redrob prospect, located just over 9 kilometres to the east of Deblin.
The company says a follow-up drill programme will commence shortly at Deblin. In the meantime, access roads to Deblin are being upgraded so that drilling can continue throughout the coming wet season. The objectives of the follow-up programme are to define the copper-sliver mineralisation in the target zones and to provide sufficient data to estimate a maiden JORC compliant mineral resource.
Golden Deeps recently raised A$1.4 million through a share placement to be used to continue exploration of the highly prospective Deblin deposit. The company placed over 15 million shares at A$0.095 each to professional investor clients of Peloton Capital. The funds raised will also be allocated to Golden Deeps’ regional exploration programme in the Otavi Mountains.