Golden Deeps Heralds New Mineral Resource For Namibian Project

Golden Deeps Ltd (ASX:GED) has delivered an encouraging mineral resource upgrade for its key Nosib and Abenab vanadium, copper, lead, zinc and silver deposits on its Otavi Mountain Land (OML) Projects in northern Namibia.

The MRE encompasses a maiden resource for Nosib copper-vanadium-lead-silver deposit and an upgrade from inferred to predominantly indicated resource for the Abenab high-grade vanadium-lead-zinc deposit.

Notably, the upgraded mineral resource for the company’s OML Project is now: 3.01 million tonnes at 0.5% vanadium, 1.39% lead, 0.56% zinc, 0.19% copper and 0.97 g/t silver.

This represents an increase of 210,000 tonnes and an upgrade from entirely inferred mineral resources to two-thirds of the mineral resources now in the measured and indicated categories.

Nosib maiden mineral resource

“Important milestone”

“The release of these new, upgraded, vanadium-copper-lead-zinc-silver Mineral Resources for the Company’s Nosib and Abenab deposits is an important milestone for Golden Deeps,” said CEO Jon Dugdale

The company delivered its maiden mineral resource for Nosib at 707,660 tonnes at 0.67% copper, 0.15% vanadium, 0.84% lead, 0.04% zinc and 3.56g/t silver.

For Abenab, the company has upgraded the mineral resource from entirely inferred to predominantly indicated mineral resources, which is: 2.30 million tonnes at 0.61% vanadium, 2.66% lead, 1.04% zinc and 0.06% copper.

Abenab resource upgrade

Forward plan

The generation of these new mineral resource estimates is a critical step that will allow the integrated, mineral resource upgrade, mine development and processing study at the project.

In addition, exploration potential has been identified at the Nosib deposit to extend the copper-silver strata-bound sulphide deposit to the west and at depth.

Furthermore, the company will also examine other opportunities in the Otavi Mountain Land region to secure additional brownfields vanadium as well as copper-silver (lead-zinc) sulphide prospects to further build its growing resource base.

Dugdale added: “The Company sees near-term potential to develop high-grade concentrate production to supply downstream producers of renewable energy products, as well as the potential to establish substantial copper-silver sulphide resources for a longer term project.”

 

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