GOLDEN DEEPS LIMITED ASX ANNOUNCEMENT | ASX code: GED |
30 November 2021 |
onlyVERY HIGH-GRADE COPPER-LEAD-SILVER-VANADIUMINTERSECTIONS AT NOSIB & deeper diamond hole intersects semi-massive copper sulphides with results to come
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Golden Deeps Limited | 1st Floor, 8 Parliament Place, West Perth, WA 6005 | PO Box 1618, West Perth, WA 6872 | Page | 1 |
Golden Deeps Limited ("Golden Deeps" or "Company") is very pleased to announce very high-gradecopper-lead-silver and vanadium intersections from the first diamond drillhole at the Nosib Block ("Nosib") Prospect, located in the Otavi Mountain Land of northern Namibia (see location Figure 3).
onlyDiamond drillhole, NSBDD001, intersected a thick, stratabound, conglomerate/arenite hosted zone of mineralisation from surface to approximately 46m downhole depth that included a strongly mineralised zone of oxide/supergene mineralisation from surface that produced the following very high-grade intersections (see cross section, Figure 1):
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use Golden Deeps CEO, Jon Dugdale, commented:
personal"The Nosib diamond hole intersection, NSBDD001, confirms the discovery of very-high-grade copper, lead, silver and vanadium mineralisation from surface and that mineralisation extends across the
entire, 45m thick, conglomerate-arenite host unit.
"Deeper drillhole, NSBDD003, has intersected similar thicknesses of sulphide mineralisation, which appears to be strengthening at depth, with up to 6 percent copper in spot XRF readings on drillcore.
"We see potential here to not only define a shallow, open-pitable, resource of copper, lead and vanadium but also an opportunity to discover a high-grade copper - silver ore-body at depth.
"Copper, lead and vanadium are key battery metals and Golden Deeps has the opportunity to become a key player in the supply of battery pre-cursors for the rapidly growing EV and renewables markets."
The mineralisation intersected by diamond drillhole NSBDD001 is associated with pervasive malachite (copper carbonate) with specs of the copper sulphides - bornite and chalcopyrite. Mineralisation continues throughout the host conglomerate/arenite host unit for a thickness of over 45m and produced an overall intersection of: 45.83m at an average grade of 1.0% Cu, 2.5% Pb and 4.6 g/t Ag
f om surface.
ForThis intersection in NSBDD001 is located in the shallow oxidised - supergene zone, approximately 10m along strike from previous RC drillhole NSBRC0102 (see longitudinal projection, Figure 2), that intersected comparable thicknesses of high-grade copper and lead mineralisation at higher vanadium but lower silver grades:
- NSBRC0102: 29m @ 1.54% Cu, 4.49% Pb, 1.19% V2O5, 6.97g/t Ag from 2m incl. 13m @ 2.83% Cu, 9.18% Pb, 2.52% V2O5, 6.57g/t Ag from 3m
incl. 9m @ 3.66% Cu, 11.91% Pb, 3.62% V2O5, 7.70g/t Ag from 3m
Structural measurements on diamond drill core indicate that the drilling is close to a right-angle with the geological contacts and that intersections approximate true-thickness (see cross section, Figure 1).
Golden Deeps Limited | 1st Floor, 8 Parliament Place, West Perth, WA 6005 | PO Box 1618, West Perth, WA 6872 | Page | 2 |
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personalFigure 1: Nosib Cross section 80,100mE, showing NSBDD001 intersections and NSBDD003 sulphide mineralisation In addition to the very high-gradeintersections in the supergene zone, the first deeper diamond Fordrillhole, NSBDD003, passed through an oxidised hangingwall sequence of potentially mineralised dolomite before intersecting the conglomerate-arenitehosted mineralisation from 71.3m downhole. Drilling then continued in mineralisation that includes pods and patches of malachite, after copper-
sulphides, followed by a zone from 82.66m to 83.05m of (site geologist, Elvis Akawa, quote):
"Visible sulphide traces, well disseminated, including specs of covellite, chalcopyrite, bornite and pyrite. Occasional semi-massive bornite associated with chalcopyrite, grading up to 6% Cu"
(pXRF reading on drillcore).
The pXRF spot-readings were taken at approximate 0.5m intervals within each mineralised zone, apart from selected zones where visible sulphides are variably distributed and further readings may be taken. The range of values within the identified mineralised zone from 71.3m to 83.05m are from 0.01% Cu to 6% Cu readings, averaging approximately 0.7% Cu. The pXRF spot readings are considered an indication only and laboratory assays (ICP-MS/OES) are required to confirm grades and intervals.
Golden Deeps Limited | 1st Floor, 8 Parliament Place, West Perth, WA 6005 | PO Box 1618, West Perth, WA 6872 | Page | 3 |
Photo 1 below shows an end view of NQ sized, NSBDD003, drillcore from 83m downhole with chalcopyrite and bornite copper-sulphide mineralisation.
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personalNSBDD003 is currently being logged and sampled for sample preparation in Namibia, before despatch to Intertek Perth for full analyses.
The second hole of the drilling program, NSBDD002, was drilled along strike to the northeast of NSBDD001 on section 801,005mE (see longitudinal projection, Figure 2).
ForThis diamond drillhole intersected faulted and heavily oxidised mineralisation with some rubble fill from surface to 7.3m, including fracture coatings of the mineral mottramite, a copper-lead-vanadate hydroxide at the copper end of the descloizite group. Sporadic malachite and bornite (copper sulphide) were observed to 46.3m (46.3m thick zone from surface), where the hole was terminated short of the overall target zone due to several drill-rods not being able to be removed from the hole. NSBDD002 has been logged and samples despatched for processing at Intertek, Perth.
Golden Deeps Limited | 1st Floor, 8 Parliament Place, West Perth, WA 6005 | PO Box 1618, West Perth, WA 6872 | Page | 4 |
onlyuse personalUpon completion of the Nosib diamond drilling program and receipt of all results, selected samples of
drill core will be submitted for metallurgical test work to determine amenability to gravity concentrate | |
production as well as second stage leaching testwork. | |
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The leaching test-work program will be based on the outcomes of the current testing being conducted n the Abenab high-grade vanadium (lead, zinc +/- copper, silver) deposit5. The historical Abenab high- grade vanadium mine is located approximately 20km along strike to the east of the Nosib prospect and has a current JORC 2012 Inferred Mineral Resource of 2.80Mt @ 0.66% V2O5, 2.35% Pb, 0.94% Zn (0.2%
V2O5 cut-off) .
Subject to receipt of results demonstrating continuity of the mineralisation and preliminary metallurgical test-work results, the Company will aim to generate a maiden Mineral Resource estimate for the Nosib, high-grade,copper-lead-vanadium-silver deposit.
Golden Deeps Limited | 1st Floor, 8 Parliament Place, West Perth, WA 6005 | PO Box 1618, West Perth, WA 6872 | Page | 5 |
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Golden Deeps Limited published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2021 22:50:03 UTC.
