Copper 360 Limited (ALTX :CPR) Today announced its drilling results that confirm high-grade copper intersections at its Rietberg Copper Mine. Additionally, initial sampling has led to the discovery of new high-grade copper deposit on the surface.
Recent exploration activities included drilling four core boreholes in proximity to historical boreholes, confirming historical copper values and widths. Notably, boreholes RB360-3 and RB360-4 intersected copper grades of 2.97% over 22.27m and 3.57% over 6.66m, respectively. The drilling results validated the historical drillhole database the company holds and the inferred copper resource at its Rietberg Mine.
Beyond this, Copper 360 made a significant discovery at its Wheal Julia site during a recent surface channel sampling campaign. Copper oxide capping on the surface, extending 150m wide by 100m long and open to depth, was discovered with an in situ average copper grade of 5% and individual values as high as 8% to 10%.
Jan Nelson, chief executive of Copper 360, said: "The drilling results at the Rietberg Mine have confirmed the historical drillhole database and validated our modelling of the mineralized copper zones. The size of the copper mineralization is unparalleled, with copper mineralization of over 150m wide by 200m in length, with a down-dip strike of over 400m and open to depth at in situ grades of between 2.5% and 3.5%. This represents significant blocks of copper mineralization that we plan to mine using pre-developed infrastructure."
Nelson added: "We have now identified and delineated several targets of copper mineralization confirmed by surface sampling not previously known. This entirely changes the landscape, as we now have the potential to develop several surface open pit deposits. We've mobilized a geological team, and drilling is planned within the coming months to test these targets to depth and prepare for open pit mine design."
Copper 360 will advise the market on the upgrade of the inferred resource within the coming months.
These results have been verified by Dr Deon Tobias Vermaakt (PhD Geology) (SACNASP 400020/01), the competent person to the Company. However, the surface sampling results at Wheal Julia have not yet been independently verified, and caution is advised when interpreting these results.
About Copper 360 Limited:
Copper 360 Limited (AltX CPR) is Africa’s newest producer of the strategic metal copper. The company listed on the Johannesburg Stock Exchange AltX board on 21 April 2023.
With operations based in the Northern Cape province of South Africa, the company is focused on developing one of the largest and most promising copper districts in South Africa through exploring, developing, and mining copper resources.