Golden Deeps (ASX: GED) has uncovered more “exceptional” copper, lead, vanadium and silver intersections from drilling the Nosib Block target in Namibia.
The company has received results from the final seven holes out of a 15 hole reverse circulation program.
Assays have revealed near surface high-grade intersections with mineralisation remaining open along strike to the northeast and southwest.
Notable results were 29m at 1.54% copper, 4.49% lead, 1.19% vanadium and 6.97 grams per tonne silver from 2m, including 9m at 3.66% copper, 11.91% lead, 3.62% vanadium and 7.7g/t silver from 3m.
Another hole returned 33m at 0.7% copper, 3.42% lead, 0.18% vanadium and 5g/t silver from 3, including 10m at 1.21% copper, 6.42% lead, 0.05% vanadium and 9.92g/t silver from 9m.
Golden Deeps chief executive officer Jon Dugdale said the results represent a “significant new discovery” for the company.
“The high-grade copper, lead and vanadium mineralisation extends from surface, is open along strike and continues well into the footwall at depth below the previously developed mineralisation.”
“We see potential here to not only define a shallow open pitable resource of copper, lead and vanadium, but also for high-grade copper and silver mineralisation extending to depth.”
Mr Dugdale added the company will undertake more drilling to unlock this “exciting” discovery.
In upcoming drilling, Golden Deeps will test two key targets at Nosib.
These will comprise extensions to the shallow high-grade copper, lead vanadium mineralisation that is open along strike, and the deeper developing high-grade copper silver shoot.
Khusib Springs copper-silver project
Nosib was one of two target areas drill tested at the wider Khusib Springs project.
Khusib Springs hosts a historic mine which produced 300,000t at 10% copper, 1.8% lead and 584g/t silver.
The mine operated between 1996 and 2003 and was closed due to the low copper price at the time.
Golden Deeps considers Khusib Springs analogous to the Tsumeb mine 40km away, which generated 30Mt at 4.3% copper, 10% lead and 3.5% zinc.
This mine operated between 1905 and 1996.