Staff Reporter
WINDHOEK, Oct. 13 — Deep-South Resources Inc. (TSX-V: DSM) is pleased to announce that it has entered into an agreement with Ferrodrill Namibia (Pty) Ltd to resume drilling at the Haib Copper project located in the southern region of Namibia. The contract encompasses 5,000 meters of diamond drilling, specifically focusing on the high-grade area of the deposit initially discovered by Deep-South in 2019.
The initial 5,000 meters of drilling were successfully executed in 2021; however, the program was abruptly halted when the Ministry of Mines and Energy of Namibia declined to renew Deep-South’s Exploration and Prospecting Licence (EPL). Subsequently, this legal issue has been resolved, and the license was duly renewed on July 7, 2023.
Deep-South’s objective is to conclude the remaining 5,000 meters of drilling and subsequently initiate a new resource estimation. Prior drilling initiatives indicated the existence of higher copper grade zones, which Deep-South postulates may be linked to near-vertical structures such as shears and faults within the broader mineralized zones of the project.
It is suggested that the reliance on vertical drilling in the past may have overlooked these structures, leading to an underestimation of the overall deposit grade. Deep-South’s upcoming drilling program will prioritize inclined boreholes to identify and delineate these structures and evaluate their correlation with higher copper-grade zones.
The results of the initial 5,000 meters drilled in 2021 lend credence to this revised interpretation, displaying substantial intersections at copper grades considered notably high for the Haib region. Furthermore, the presence of molybdenum has been confirmed, with high molybdenum grades found in conjunction with these structures and alterations.
Deep-South is a prominent mineral exploration and development enterprise with a core focus on acquiring, exploring, and developing mineral properties within Namibia. The company’s flagship project, the Haib Copper project, is strategically positioned in the Kunene region of Namibia, approximately 300 kilometres to the north of the capital city of Windhoek.
The Haib Copper project stands as a substantial copper-molybdenum deposit with substantial potential for resource expansion. The project benefits from its location in a well-established mining district, offering robust infrastructure and convenient access to major markets.
The decision by Deep-South to recommence drilling at the Haib Copper project marks a significant and positive development for the company and its stakeholders. The successful completion of the remaining 5,000 meters of drilling could potentially result in a substantial enhancement of the resource estimate for the project. This, in turn, may render the project more attractive to prospective investors and collaborators, and pave the way for the establishment of a new copper mine in Namibia.
