Deep-South Resources Inc (CVE:DSM) (OTCMKTS:DSMTF) has revealed the first drill results from its Haib copper project in Namibia showing an intersection of 152 metres of 0.47% copper equivalent (CuEq).
The intersection included 30 metres at 0.81% CuEq, according to the Vancouver-based resource company.
Other results included 128 metres of 0.42% CuEq, including 14 metres at 0.57% CuEq, and 36 metres of 0.65% CuEq, including 12 metres at 1.04% CuEq.
READ: Deep-South Resources appoints METS Engineering to conduct and manage metallurgical and process technology test works on stockpile material from Haib Copper Project
Pierre Leveille, Deep-South’s CEO, told investors that the company was “extremely enthusiastic” about the first results from the ongoing drill program.
“Previous drilling programs point to the presence of higher-grade zones of copper, probably associated with near-vertical structures within the broader mineralised areas of the project,” Leveille said in a statement.
According to the CEO, vertical drilling in the past potentially missed certain structures, resulting in an underestimation of overall grade. The company’s current drilling program is looking to amend this by using inclined holes to identify and delineate these structures and test the association with higher copper grade zones.
“These first results seem to support this updated interpretation, showing substantial intersections at copper grades considered high for Haib,” Leveille added. “Additionally the presence of molydenum has been confirmed with high Mo grades obtained in association with structures and alterations. Furthermore, three holes have expanded the size of Pit 2 in the higher-grade area.”
Deep-South is planning to drill 10,000 metres at Haib, one of the oldest porphyry deposits in the world.
The company has completed 14 holes so far, with another two currently in progress. It plans to drill a number of holes to depths greater than 350 meters to test the vertical extent of the deposit.
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