Golden Deeps drilling at Namibia’s historic high-grade copper mine

Diverse explorers Golden Deeps (ASX: GED) Drilling will begin at the Khusib Springs copper mine in Namibia to test higher grade copper mineralization at the edge of the historic stop.

Due to low copper prices at the time, the mine was closed in 2003 and red metal fell to about US $ 1,500 (/ t) per ton.

This is in stark contrast to the current situation where copper has exceeded US $ 9,000 / ton.

The mine has historically produced silver at a high average grade.

Copper prices have recently accelerated in the wake of a warning that a shortage is imminent due to the lack of major discoveries when demand is increasing due to the electrical conductivity of metals.

Khusib Springs is one of three major projects undertaken by Golden Deeps, the others are the advanced Abenab vanadium lead-zinc deposit (also Namibia) and the Tuckers Hill and Havilah projects at Lachlan Fold Belt, New South Wales. ..

Also tested excavation between old underground work and surface

Drilling will begin in April with an 18-hole, 750m reverse circulation program.

Drilling also tests for soaring expansion into deposits that have been mined underground but have not expanded to the surface.

The program will be implemented with the approval of the landowner.

Unexpected heavy rains at Otabi Mountain Land affected access trucks.

From 1996 to 2003, Khusib Springs produced 300,000 tonnes with an average of 10% copper and 584 g / ton (g / t) of silver.

At the historic intersection of Kushib Springs, 35.19% copper, 3.67% lead, 2.23% zinc, 2090.91 g / t silver 4.5 m, 8.12% copper, 0.75% lead, 0.52% zinc, 385.06 g / t silver. There is 14m.

Studies show remaining copper-silver mineralization

Khusib Springs is located near the town of Grootfontein in Namibia.

The 2003 closure was accompanied by a fall in copper prices, consistent with the depletion of easily minable high-grade ore.

According to Golden Deeps, the Kushib Springs mine is believed to be similar to the Tsumeb mine, located 40km northwest.

Between 1905 and 1996, the mine produced 30 million tonnes of ore, including 4.3% copper, 10% lead and 3.5% zinc.

Last year, Golden Deeps commissioned a geological survey of Kushib Springs.

After reviewing historical drilling data and reviewing mining and shutdown plans, the consultant concluded that there was a residual zone of copper-silver mineralization at the edge and depth of the mined stop.

The company believes that the slump in copper prices at the time probably left behind the remaining ore.

Golden Deeps drilling at Namibia’s historic high-grade copper mine

Source link Golden Deeps drilling at Namibia’s historic high-grade copper mine

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