Mineral exploration and development company Deep-South Resources is expected to drill on the Haib Copper project in southern Namibia this month.
The company will mobilize its field crew to initiate drilling, with the first drill expected around November 10, 2023, and the second drill around November 15, 2023.
The drilling campaign’s primary focus is to continue exploring the high-grade area of the deposit discovered by the company in 2019.
The program initially targeted drilling up to 10,000m in the area, with the first 5,000m successfully completed in 2021.
Following a brief delay in the renewal of the Exploration and Prospecting License (EPL), the renewed license, obtained on July 7, 2023, now permits Deep-South Resources to complete the remaining 5,000 meters of the exploration program and advance toward a new resource estimation.
Pierre Leveille, President and CEO of Deep-South Resources, stated, “We are extremely encouraged by the current situation. We are confident to deliver drill results that will enhance an already robust project and unlock further value for our shareholders. With the backdrop of a strong copper price, we are highly optimistic for the coming months. We are well on our way towards the development of the Haib Copper project.”
Prior drilling indicated high copper grades linked to vertical structures within mineralized areas. The new program uses inclined holes to pinpoint and confirm these structures’ association with higher copper grades. The initial 5,000 meters drilled in 2021 already validated this approach, revealing significant high-grade copper intersections and confirming the presence of molybdenum.