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Corporate Spotlight

Kopore Metals Limited is a publicly listed company on the Australian Securities Exchange (ASX:KMT), actively exploring and drilling its copper-silver projects on the emerging world class Kalahari Copper Belt, across the Republics of Botswana and Namibia.
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EXPLORATION

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NAMIBIAN INITIAL PLANNED EXPLORATION ACTIVITIES

ASX Announcement 2 November 2018

HIGHLIGHTS 

  • Initial 11 hole 2,400m of diamond and reverse circulation (RC) drilling program planned across the Qembo, Zambinda and Ongava Dome Prospects 
  • Kopore continues to compile and interpret extensive historical geological database, covering its 100% owned Namibian exploration licenses to refine immediate targets 
  • Historical drilling at Qembo Dome is interpreted to have not potentially reached the economically significant footwall zone which is known elsewhere on the Kalahari Copper Belt to host copper-silver mineralisation 
  • Maiden drill program at Qembo Dome will target the true footwall contact zone testing for shallow and along strike extensions of the interpreted zone 
  • Reprocessed geophysical data from the Ongava Dome highlights the near surface presence of the D’Kar footwall structure and will remain the focus of the planned ground magnetic and electromagnetic survey 
  • Exploration expected to commence in Q4 2018 subject to government approval of the Environmental Application

Kopore Metals Limited (“Kopore” or “Company”) is pleased to provide an update on its 100% owned Namibian Licenses that the Company acquired in July 2018. Kopore was recently granted access to an extensive database of historical drill holes, airborne magnetic geophysical surveys and soil samples by the Namibian Department of Mines.

Qembo Dome 

The Company has identified the Qembo dome as a high priority target for immediate diamond drill testing, following the receipt of Environmental Approvals and land access agreements. The Company believes that the previously reported historical drill results including 3m @ 1.11% Cu and 127.19g/t Ag1 may not have intersected the entire mineralised sequence above the footwall contact between the D’Kar and Ngwako Pan Formations. This contact is known to host copper-silver mineralisation across the Kalahari Copper Belt in similar geological settings at the Zone 5 deposit (Cupric Canyon Capital) and T3 copper-silver deposit (MOD Resources Limited), (Figure 4). While the historical drilling confirms the presence of a mineralised copper system, the Company believes that there is potential for shallower and highergrade mineralisation along strike, down dip and adjacent to the footwall contact.

The Company will commence its exploration activities on the Qembo Dome before progressing to the Zambinda and Ongava Domes.

Ongava and Otjari Domes 

Reprocessed historical airborne magnetic geophysical data at the Ongava and Otjari Domes has highlighted the potential for the near surface expression of the contact between the D’Kar and Ngwako Pan Formations. The prospectivity of the Ongava and Otjari Domes are further enhanced by several crosscutting structural discontinuities providing potential pathways for mineralising fluids and prospective trap sites. Similar geological structures are located on the Kalahari Copperbelt along strike at the Klein Aub and Witvlei deposits.

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QUARTERLY

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QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDING 30 SEPTEMBER 2018

ASX Announcement 31 October 2018

HIGHLIGHTS 

  • Korong Dome (formerly GWD1) reconnaissance drilling campaign commenced at the Korong East (formally KM3) Prospect and Korong North (formerly KM1) interpreted anticline Prospect. 
  • Drilling commenced at the Kara Prospect. 
  • Drilling campaign undertaken on Ghanzi West licences in Botswana, confirming the prospectivity of the area, with the identification of the D’Kar Formation near surface. Previously thought to be greater than 100m below surface. 
  • Pathfinder sulphides - pyrite and pyrrhotite - identified in RAB, RC and Diamond drilling, providing the Company with refined targets. 
  • Copper-lead-zinc soil anomaly identified at Korong West Prospect, over an area of 4.5km2 and coincident with a major airborne electromagnetic (EM) conductor. 
  • Environmental waiver received to conduct a soil sampling program across recently acquired Virgo licences in Botswana. 
  • Acquisition of eight prospecting licenses in Namibia, on the Kalahari Copper Belt, across an area of 5,705km2 and contiguous to Kopore’s existing Botswanan Ghanzi West prospecting licence group. 
  • Post the end of the quarter, Kopore acquired a substantial geological dataset from Namibian Ministry of Mines and Energy, allowing exploration targeting on its Namibian prospecting licences to be fast-tracked, reducing initial exploration costs and refining exploration targets. 
  • Capital raising of $2.67 million (before costs) completed.

Kopore Metals Limited (“Kopore” or “Company”) is pleased to provide the following activities report, outlining the progress achieved during the September 2018 quarter. The Company has continued to transform its project portfolio from greenfields to high-priority exploration targets, including regional scale dome targets geologically similar to domal targets known to host significant copper-zinc mineralisation elsewhere across the Kalahari Copper Belt (Figure 1).

In addition to the field reconnaissance and drilling activities in Botswana, the Company successfully acquired 5,705 km² of highly prospective ground in the Republic of Namibia (Figures 1, 2, 4 and 5), contiguous to our current Botswana Ghanzi West licence group and all located on the Kalahari Copper Belt.

The Namibian Department of Mines has provided a substantial dataset of the historical exploration activities over the newly granted prospecting licence area, to the Company for detailed analysis. This large information data set will assist the Company with its targeting and exploration program planning for 2019.

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QEMBO DOME

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FIRST COPPER INTERSECTIONS IDENTIFIED IN HISTORICAL NAMIBIAN DATABASE - QEMBO DOME

ASX Announcement 30 October 2018

HIGHLIGHTS 

  • Initial review of historical drilling data has identified copper-silver mineralisation of 3m @ 1.11%Cu and 127.19g/t Ag at 159-162m downhole. 
  • Multiple drillholes with anomalous intersections (>0.3% copper demonstrate the presence of copper around the Qembo Dome. 
  • The Qembo Dome has a highly prospective D’Kar/Ngwako Pan Formation (FW) contact margin of approximately 94km in length and largely unexplored 
  • Kopore’s initial exploration drilling programs will focus on confirming the historical copper assays greater than 1% and drilling to test possible extensions along strike and down dip. 
  • Geographically wide distribution and dispersion of anomalous intersections, highlights significant exploration potential. 
  • The Qembo Dome geological model has been interpreted as comparable to domes located in the Botswana northern region of the Kalahari Copper Belt, held by Cupric Canyon (US Private). 
  • Results from historic drillholes at the Qembo Dome include:

T10R-004 (RC Hole) 

3m @ 1.11% copper and 127.19g/t silver from 159-162m 

Including 1m @ 1.54% copper and 252.53g/t silver from 160-161m 

T9D-001 (Diamond Hole) 

2.76m @ 0.89% copper and 86.61g/t Ag from 320.62–323m 

T2R-004 (RC Hole) 

5m @ 0.48% copper and 34.18g/t Ag from 288-293m 

T2D-002 (Diamond Hole) 

4.24m @ 0.44% copper and 33.21g/t Ag from 301.93-306.17m 

T10D-001 (Diamond Hole) 

5.31m @ 0.38% copper and 44.16g/t Ag from 191.9-197.2m 

T10R-005 (RC Hole) 

5m @ 0.32% copper and 27.03g/t Ag from 176-181m 

T7D-001 (Diamond Hole) 

3.41m @ 0.35% copper and 25.62g/t Ag from 167.05-170.46m 

Note: All drill intersections are down-hole lengths

Kopore Metals Limited (“Kopore” or “Company”) is pleased to announce its review of the historical database for its recently acquired Namibian prospecting licences1 has successfully identified high-grade copper-silver mineralisation at its Qembo Dome prospect, located in the Republic of Namibia (Figure 1). In addition, the historical drilling data review has identified multiple anomalous copper-silver intersections (>0.3% copper) around the margin of the Qembo Dome, at depths less than 300m below surface (Figures 1 and 2).

“The review of historical drilling data at the Company’s 100% held Namibian prospecting licences, continues to deliver compelling technical information, prompting the Company to accelerate its Namibian exploration strategy. Multiple anomalous copper intersections around our first dome of interest, the Qembo Dome, further highlights the potential for copper discovery and relatively shallow depths. The historic exploration undertaken was little more than first-pass scout drilling, for it to have produced such a high-quality and volume of data, is an encouraging outcome for the Company. We have submitted our Environmental Management Plan to the Namibian Department of Mines, and upon requisite approvals, will continue to forge forwards our pathway to copper” stated Managing Director Grant Ferguson.

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121 MINING

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ABOUT

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The company has identified the Kalahari Copper Belt as highly prospective with sixteen 100% owned prospecting licenses in Botswana and eight prospecting licences in neighbouring Namibia totalling 14,363 kilometres of prospects. 

With a dominant ground position on the Kalahari Copper Belt, the Company has leveraged strong neighbouring resource development to advance its own targets and believes its prospects have multiple opportunities for high-grade copper-silver discovery.

In its brief history, the company has a demonstratable record of identifying and acquiring high-quality, underexplored targets. Kopore has prioritised its exploration program, moving quickly to undertake ground and airborne electromagnetic surveys, ground geophysical and soil programs and drilling of its highest priority targets. 

As highlighted by its acquisition of its Namibian licences, the company believes strongly in the Kalahari Copper Belt and will continue to aggressively pursue regional opportunities with a fully funded exploration program including extensive drilling and soil sampling. 

The directors and management of Kopore provide strong direction with over 20 years of Australian and International technical, legal and executive roles in exploration, resource development, mining, legal and resource fields. 

THE KALAHARI COPPER BELT 

Extending from Northern Botswana into Namibia, the Kalahari Copper Belt is a 1,000-kilometre-long trend of sediment-hosted, stratiform Cu-Ag deposits hosted in Meso - and Neoproterozoic rocks along the NW edge of the Kalahari Craton, they consist of folded and greenschist metamorphosed Ghanzi (Botswana) and Tsumis (Namibia) Group metasedimentary rocks.

Kopore continues to explore for stratabound copper-silver deposits across its sixteen 100% owned prospecting licenses in Botswana and eight prospecting licences in Namibia, for a total of 14,363 square kilometres on the world class Kalahari Copper Belt. Kopore believes the Kalahari Copper Belt can provide the potential for large scale discovery, as demonstrated by neighbouring resource development companies.

BOTSWANA AND NAMIBIA

Kopore’s Projects are able to be advanced with the assistance of stable, mining friendly host countries. Botswana is one of Africa's most stable countries and is the continent's longest continuous multi-party democracy. As the world's largest producer of diamonds (by value) the country has been transformed it into a middle-income nation. 

Namibia has enjoyed stability since gaining independence in 1990, in 2013 Bloomberg named Namibia the top emerging market economy in Africa. According to the most recent Fraser Institute Annual Mining Survey, Botswana and Namibia are ranked #3rd and #6th respectfully for “investment attractiveness” in Africa, in addition to their highly ranked global position.

TIMELINE

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1.7¢
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Mkt cap $9.223M
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