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ADU PReVIeW

Cobre ready to strike

on Kalahari belt

clear path to 100% ownership and a explore as aggressively as we like on the around 300m deep to test for extensions of
A new exploration plan has sparked inves- tenements. On top of that, it means we will copper-silver mineralisation intersected in
tor interest in Cobre Ltd with the Botswana- begin to attract interest from majors around two separate historical drill targets on the
focused explorer’s shares climbing 100% in JVs, earn-ins, etc.” northern margin of the Kalahari copper belt
the first week of July. Coinciding with the changes has been at the Ngami copper project.
Cobre had been in a 51/49 JV with Metal the appointment of African exploration spe- Understanding the stratigraphy could be
Tiger plc over Kalahari Metals Ltd (KML) cialists Ross McGowan – co-discoverer of crucial given the majority of known copper
– licence holder over more than 8,000sq the Kamoa copper deposit in DRC – as a deposits on the belt occur at the contact of
km of prospective ground on the Kalahari non-executive director and Adam Wool- the Ngwako-Pan/D’Kar formation.
copper belt in Botswana – however an ridge as the in-country chief executive Combined with the Kitlanya West pro-
agreement revealed on June 16 will allow heading up a new exploration team. ject, Ngami covers more than 500km strike
Cobre to reach 100% ownership of KML The aggressive approach has started im- of prospective contact, with Cobre having
via a two-stage process; an initial £750,000 mediately with Cobre kicking off a four-hole vectored into the targets using gravity and
for an additional 24.5%, with the remaining diamond programme in July. soil sampling.
24.5% to be acquired via another £750,000 “The new technical team have all been At Ngami, the four-hole programme
or equivalent Cobre shares anytime in the involved in major discoveries in Africa and will follow-up intersections of 2m @ 1.8%
next 12 months. have designed this next programme,” Hol- copper and 8 g/t silver and 5.2m @ 0.7%
According to Cobre executive chairman land said. “We should have the visuals in copper which were considered anomalous
Martin Holland, the deal will allow the com- the next few weeks and that will give us a relative to typical copper values along the
pany to unlock value for shareholders. good indication of whether we are in miner- belt. The drilling will test lateral continuity of
“It wasn’t in the business model of Metal alisation and to understand the stratigraphy mineralisation intersected previously.
Tiger to keep spending exploration money,” we are in.” Holland said the programme would be
Holland explained to Paydirt. “Now we can The programme will see four holes drilled the most decisive yet on the project.

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