Cobre says testing at Ngami Copper Project confirms suitability of in-situ recovery process
Melbourne, Victoria
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February 28, 2024 11:00 AM Eastern Standard Time
Cobre Ltd (ASX:CBE) CEO Adam Wooldridge joined Proactive's Stephen Gunnion with an update on the company's Ngami Copper Project (NCP) in Botswana's Kalahari Copper Belt following the conclusion of the first phase of hydrogeological testing. The project has an exploration target exceeding 100 million tonnes at 0.5% copper, addressing challenges such as cover thickness, steep dip, and grade. Wooldridge explained that the in-situ recovery method offers a low operational and capital expenditure solution while being environmentally friendly, potentially producing green copper cathode on-site, which could revolutionize operations on the Kalahari Copper Belt and benefit local communities. The process requires mineralization to be leachable, a correct water table depth, and appropriate hydrological controls, including a natural fracture network. Cobre has confirmed the project's feasibility for in-situ recovery through extensive testing, including recent well tests that demonstrated the ability to inject into target fractures, identify seals and intersect significant mineralization depth. For the remainder of the year, Wooldridge said Cobre plans to pursue a three-tier strategy: big-picture exploration for tier-one deposits in collaboration with BHP, advancing high-grade targets for short-term gains, and progressing the in-situ recovery process towards a scoping study. This approach includes hydrological, engineering, and economic studies, metallurgical tests, resource drilling, and pilot testing, aiming to transform the project and the company's prospects significantly
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