Australian explorer Tanga Resources (ASX: TRL) has discovered a new zone of high-grade copper mineralisation at its wholly-owned Hagenhof project along Namibia’s Demara Belt.
The new quartz-gossan breccia zone, named P5, is located approximately 5 kilometres south of the project’s Main Gossan target and has recorded “exciting” results of up to 5.7% copper and anomalous cobalt of up to 250 parts per million from rock chip samples taken over an area of 500 square metres.
It is the latest of a series of encouraging exploration results from the fully-permitted Hagenhof, where several copper targets have recently been identified over an area of more than 8km which has geological similarities to ‘Katangan-style’ stratabound copper – a sought-after geological formation throughout the well-endowed African Copperbelt.
Recent ground surveys over specific areas of Hagenhof have also highlighted a prominent magnetic feature at Main Gossan (where historical diamond drilling was reported to have intersected significant copper-cobalt mineralisation) and a prominent circular magnetic anomaly coinciding with a large interpreted structural domal feature at the previously-unexplored Liv’s Hill target.
Tanga acquired the Hagenhof project in mid-2018 from Namibian company Aloe Investments One Hundred and Ninety Two Pty Ltd.
Historical drilling results at the project included 18m at 0.90% copper from 93m (with 12m at 1.08% copper from 96m) and a smaller 3m interval with 2.37% copper.
Tanga has since been preparing its own 2000 metre maiden drilling campaign to test these and other historical results at the Main Gossan, Liv’s Hill, Jette’s Hill and Copper Cap targets.
Approval for the campaign was received last week following receipt of an Environmental Clearance Certificate.
Chief executive officer Matthew Bowles said it would now be extended to a total of 3000m to include the new P5 target.
“P5 highlights the potential for a new copper discovery to be made at Hagenhof and we are excited to start the drilling program over the coming weeks,” he said.
“We believe the Damara Belt remains underexplored, which is why we have focused our efforts on securing a large landholding on the belt.”
In February, Tanga expanded its regional land position to more than 1700 square kilometres under an earn-in agreement with Epangelo Mining Company over two granted exploration licences and one application.
The licences are located on the Damara Orogenic Belt in central northern Namibia, immediately south of Hagenhof and have been subject to very little modern exploration.
Regional aeromagnetic data has shown a major north-south trending structure running through one of the licences and continuing up into Hagenhof.
The earn-in agreement will allow Tanga to conduct initial exploration work over the licences, a review all historical data, field mapping and planning for a future airborne geophysical program.
At midday, shares in Tanga Resources were steady at $0.002.