VANCOUVER, British Columbia, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Deep-South Resources Inc. ("Deep-South" or “the Company") (TSX-V: DSM) announces that it has mobilized its field crew to start the drilling program on the Haib Copper project in the south of Namibia. The Company expects that the first drill will be delivered on site on or about November 10, 2023 and the second drill will arrive on or about November 15th, 2023, as part of this proposed drilling program
Pierre Leveille, President & CEO of Deep-South states: "We are extremely encouraged by the current situation. We are confident to deliver drill results that will enhance an already robust project and unlock further value for our shareholders. With the backdrop of a strong copper price, we are highly optimistic for the coming months. We are well on our way towards the development of the Haib Copper project.”
The specific focus of the drilling campaign is to further drill out the high-grade area of the deposit uncovered by Deep-South in 2019. The original exploration program was planned to drill up to 10,000 meters in the area. The first 5,000 meters were drilled in 2021. However, the program had been suspended when the Ministry of Mines and Energy of Namibia (the Ministry) has refused to renew the Exploration and Prospecting Licence (EPL). This legal situation has been resolved and the licence was renewed on July 7, 2023. Deep-South is now set to complete the remaining 5,000 meters of the proposed exploration program and then proceed with a new resource estimation.
Previous drilling programs point to the presence of higher copper grade zones, probably associated with near vertical structures (shears and faults) within the broader mineralised areas of the project. The use of vertical drilling in the past potentially missed those structures resulting in an underestimation of the overall grade. Our drilling program is focussing to redress this through the use of inclined holes to identify and delineate these structures and test the association with higher Cu grade zones. The results of the first 5,000 meters drilled in 2021 support this updated interpretation, showing substantial intersections at Cu grades considered high for Haib. Additionally, the presence of molydenum has been confirmed with high Mo grades obtained in association with structures and alterations.
About Deep-South Resources Inc.
Deep-South Resources is a mineral exploration and development company. Deep-South’s growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and in proximity to infrastructure in stable countries. The Company holds the Haib Copper Project in Namibia and holds an interest in three exploration licenses in the Copperbelt in Zambia. In using and assessing environmentally friendly technologies in the development of its copper projects, Deep-South embraces the green revolution.
More information is available by contacting Pierre Léveillé, President & CEO at +1-819-340-0140 or at: firstname.lastname@example.org Neither the TSX Venture Exchange nor its Regulation Services
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