Quarterly Activities Report
- Cobre Limited listed on ASX following its successful $10m IPO, with strong interest from both existing and new shareholders including institutional and high net worth investors.
- Immediately post listing, exploration drilling commenced at the Schwabe, Zinco Lago and Monti Prospects within the Perrinvale VHMS Project located in Western Australia.
- The first diamond core drill hole at the Schwabe Prospect confirmed the presence of high-grade VHMS mineralisation. The first two holes at the Zinco Lago Prospect identified disseminated and stockwork base metal mineralisation in both core samples.
- Post quarter's end, core drilling and assay results from Schwabe confirmed the presence of a high-grade VHMS system containing primary copper, zinc, gold and silver at shallow depth including:
o DD Hole 20PVDD003: 6 m @ 8.39% Cu, 3.52% Zn, 30 g/t Ag, 0.14% Co, 3.1 g/t Au from 49 m
o DD Hole 20PVDD004: 6 m @ 5.63% Cu, 3.89% Zn, 22 g/t Ag, 0.10% Co, 1.4 g/t Au from 28 m
- Modelling of the DHEM survey data identified three other strong conductors: below the drilled mineralisation at Zinco Lago; along the Zinco Lago - Lago Rame gossan trend; and adjacent to drilling at Monti.
- Ground electromagnetic surveys now underway to further refine targets for the next phase of drilling at the Perrinvale Project.
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About Cobre Limited
Cobre Limited (ASX:CBE) is a Sydney based company focused on mineral exploration in Western Australia. The company recently discovered a new high grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia from its maiden drill program in June 2019.