Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Deep-South Resources kicks off drilling at Haib copper asset in Namibia

% of readers think this story is Fact. Add your two cents.


Deep-South Resources Inc (CVE:DSM) told investors it has started drilling at its Haib copper project in Namibia, arguably the oldest porphyry deposit in the world.

The first rig has arrived, while a second drill will be on-site in the coming days, the resource group said. 

The company aims to sink up to 10,000 metres (m), with a first phase of 5,000m, mainly focused on growing the higher-grade zone of the deposit uncovered by Deep-South in 2019.

READ: Deep South Resources is “scratching the surface” of a massive copper porphyry in Namibia

“We are well funded and are confident to deliver drill results that will enhance an already robust project and unlock further value for our shareholders,” said Pierre Leveille, the CEO of Deep-South in a statement.

“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.”

The Haib deposit, as defined so far, covers a surface area of 2.6 square kilometres and a depth of around 350m. There is a high-grade area containing 140 million tonnes.

A preliminary economic assessment (PEA) in May 2020 underscored its credentials, pegging the after-tax net present value (NPV) at US$957 million with an internal rate of return (IRR) of 29.7%, using a copper price of US$3 per pound.

In the first 5,000m phase, infill drilling will be carried out with a view to expanding the higher-grade zone, better define the average grade, and eventually estimate a measured resource.

Previous drill intersections from that zone included 56m at 0.76% copper and 74 parts per million (ppm) moly from 18m in one hole, the company said.

Contact the author at [email protected]

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/940958/deep-south-resources-kicks-off-drilling-at-haib-copper-asset-in-namibia-940958.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST


Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.