Cobre Limited: Significant Further Copper Mineralisation Intersected

Sydney, Australia - Cobre Ltd. (ASX:CBE) is pleased to announce the sixth intersection of copper mineralisation from its ongoing drill programme on Kalahari Metals Limited's (KML) NCP licenses.

Drill hole NCP12 targeted the lateral extension of highly anomalous mineralisation intersected in drill holes NCP08 and NCP11-B, which, along with drill holes NCP10, NCP09, NCP07 and TRD-14-16a, has delineated a compelling copper target with more than 4km of strike. Importantly, the copper intersection in NCP12 provides confidence in the continuity of mineralisation along the extensive strike extent.

Commenting on the drilling results from this sixth hole, Cobre Executive Chairman and Managing Director, Martin Holland, said:

"This is another significant result, providing confidence that the significant copper mineralisation intersected so far has lateral continuity along the extensive strike length of the target. We look forward to updating the market with further results from the 500m spaced drill programme along with assay results as these become available. Given the success of the first six holes in this diamond drill program, the company is fast tracking exploration with a second drill rig mobilising to site."

Based on visual estimates, confirmed with pXRF readings, drill hole NCP12 has intersected an 18m zone of copper mineralisation which includes 9m of abundant chalcocite mineralisation which is centred at 221m down hole. Mineralisation consists primarily of fine-grained chalcocite which occurs as fracture-fill and along bedding planes. In addition to the primary chalcocite dominated zone, an intersection of vein hosted cuprite mineralisation has been noted. Mineralisation is steeply dipping and expected to sub-crop under approximately 65m of cover.

The ongoing drill programme teststhe first of 55 ranked targets across KML's extensive license holding including 43 targets on the relatively unexplored northern margin of the KCB. KML has commenced with soil sampling programmes on both northern margin projects (NCP and Kitlanya West) with a view to advancing several of these targets for drill testing in the short to medium term.

NCP12 Results

As with the other drill holes in the programme, NCP12 was designed to intersect mineralisation associated with the redox contact between oxidised Ngwako Pan Formation red beds and overlying reduced marine sedimentary rocks of the D'Kar Formation on the northern limb of an anticline structure. The hole is located 500m northeast of NCP08 and tests for lateral continuity of encouraging copper mineralisation intersected in this hole. NCP12 was drilled through a section of three steeply dipping upward coarsening cycles of D'Kar Formation siltstone to sandstones capped with marl units before intersecting the contact with the underlying Ngwako Pan Formation sandstones at 223.4m.

Mineralisation is located in the lowermost "mineralisation cycle" with some evidence of zonation from a chalcocite dominant zone directly above the Ngwako Pan contact with chrysocolla and occasional cuprite mineralisation noted on parting planes and vein margins higher up from the contact.

Importantly, results from NCP12 demonstrate that the anomalous copper mineralisation occurring above the Ngwako Pan contact has lateral continuity providing further support for potential economic concentrations of mineralisation along the extensive strike length.

Visual mineralisation logs were confirmed with pXRF 1m composite samples which were taken by cutting a groove along the drill core and then analysing the composite powder with a pXRF. Results are compared with other hole intersections graphically in Figure 2*. A plan and oblique 3D view of the completed drilling is illustrated in Figure 3*. An annotated section through NCP12 is provided in Figure 4*.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/7JCB4681

About Cobre Limited:

Cobre Ltd. (ASX:CBE) is a copper and base-metals explorer with projects in Western Australia and Botswana. The Company recently discovered a new high-grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia, and is currently exploring approximately 8,100 km2 of tenements within the Kalahari Copper Belt (KCB) in Botswana.

Source:
Cobre Ltd.

Contact:

Cobre Ltd. Martin Holland E: info@cobre.com.au WWW: www.cobre.com.au