Quarterly Activities Report
Sydney, April 29, 2022 AEST (ABN Newswire) - Cobre Limited (
ASX:CBE) is pleased to provide the following update on its activities for the quarter ended 31 March 2022, during which the Company continued to focus on its diverse project portfolio in Australia, its investments in Botswana and Gabon and its corporate strategy.
HIGHLIGHTS
Botswana:
- Positive drill results support KML's targeting model, increasing confidence in the Project; and
- Confirmation and refinement of exploration model for 25km long Endurance prospect leads to priority targets for the next phase of drill testing.
Perrinvale:
- A systematic soil and rock chip sampling approach identified 29 new areas of interest;
- After follow-up fieldwork, 17 of those areas and 5 of the original prospects are considered prospective and warrant further exploration;
- Limited MLEM surveying has identified conductors worthy of drill testing at 3 new priority prospects;
- Malachite mineralisation (copper carbonate hydroxide) identified at Costa del Islas; and
- Detailed plans for the next stage of field exploration presented to the board.
Gabon:
- ASX listed Armada Metals Limited (ASX:AMM) received a three year extension to permit G5-555, which includes the high priority Matchiti Central target;
- Diamond drilling successfully commenced at the Nyanga Project with a budget for up to 3,000m; and
- Cobre holds 15M Armada shares (14.43% of Armada shares) and an option to acquire an additional 3.3M Armada shares at an exercise price of $0.334 each.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/6U1276QI
About Cobre Limited
Cobre Limited (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.
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