So CBE has commenced its 2023 drill program with two diamond drill rigs currently drilling a 5,000m program at the Ngami Copper Project (NCP) in Botswana already! The program is designed to:
* Continue targeting high-grade copper-silver zones within drill tested targets with proven copper-silver mineralisation, i.e.(fromFigure1): Comet: Further diamond drilling will focus on identifying and delineating further zones of high-grade mineralisation expected to occur both laterally and vertically along the target length. Helios: Follow-up drilling consisting of an initial three diamond holes. Interstellar:Five further diamond holes are planned to test the strike length of this developing target. The above three target areas had some proved 20m+ Cu mineralisation intersections. They will also target Luna, Nova, and Satellite areas where the historical drill holes returned some 10m+ Cu intersections with low grade.
* Identify anomalous copper-silver mineralisation related to deposit halos in the three untested targets i.e. Asteroid, Meta, and Cosmos areas also in Ngami from Figure 1.
And will then be followed/or later parallelly by a 10,000m AC drill programme scheduled to commence towards the end of March in the Kitlanya West (KITW) Project area too (right next to the SW of Ngami Project) !
From the beginning of July 2022's Ngami drilling campaign last year till the end of year 2022, they have drilled some 34 DD holes in total (from NCP01 to NCP34 per report of which they started reporting the drillings from NCP07 onwards) and 33 drill holes have intersected the Cu mineralisations and the best holes so far are still NCP20A (30m [email protected]%Cu including [email protected]%Cu per 5 Dec 2022 Ann) and NCP08 ([email protected]%Cu including 4.4m@2%) it looks. Each DD hole cost avg US$100k per hole including receiving the assay result. From the beginning of year 2023 CBE has $11m at hand (including $1m from March 2023 quarter) and with the impressive drilling efficiency/turnaround time by Mitchell so far there will be plenty of drilling news to expect once commenced one would guess (the joint field work with Sandfire (SFR to spend circa $440k) on AGG survey over Cobre’s Ngami, Kitlanya West and East Copper Projects has already started in Dec 2022 too)! All imho.
CBE Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
