Quarterly Activities Report
- 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.
- 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.
- 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.
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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.