Deep-South Resources Inc has continued success with its 10,000m drill program on the Haib copper project in southern Namibia
The latest analyzes come from three holes (over 684 meters) dug in the central mineralized part of the deposit at the Pit 2 target.
Deep-South Resources Inc (CVE: DSM) (OTCMKTS: DSMTF) has announced more encouraging results from the current 10,000 meter (m) drilling program on its Haib copper project in southern Namibia.
The latest assays come from three holes (over 684m) dug in the central mineralized portion of the deposit at the Pit 2 target, all of which touched bedrock mineralization or near the bedrock surface.
“We continue to have success with our active drilling program identifying thick, higher grade zones. We consistently intercept grades significantly higher than the average grade for our NI 43-101 indicated resource, which is 0.31% copper, ”said Pierre Léveillé, CEO of Deep-South in a press release.
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Léveillé added: “The higher grade zone of pit 2 extends much further to the west and to depth than has been shown previously. project.
“These almost vertical structures so far appear to be associated with a higher copper content than that contained in the current resource. In addition, the presence of molybdenum has been confirmed with high Mo contents obtained in association with structures and alterations. “
Highlights from the three holes included 0.46% copper equivalent (CuEq) over 156 m, including 24 meters at 0.65% CuEq in one, and 0.43% CuEq over 26 meters, including 4 meters at 0, 87% CuEq in another.
About 40% of the 10,000m drill program has been completed, said Deep South, with 19 holes completed and two currently underway.
Deep-South Resources owns 100% of the Haib deposit, which is one of the largest unexploited copper deposits in Africa.
A recent Preliminary Economic Assessment (PEA) showed that at a copper price of US $ 3 per pound, the project generates an after-tax net present value (NPV) of US $ 950 million and an internal rate of return (IRR) ) after tax. by 30%.
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