Cobre Limited announces completion of hydrogeological study at Ngami Copper Project

Cobre Limited (ASX:CBE) has successfully completed an additional injection and pumping well at the Ngami Copper Project (NCP) in the Kalahari Copper Belt (KCB), Botswana. The study has demonstrated hydraulic connectivity between injection and pumping wells along the main mineralisation, paving the way for the In-Situ Copper Recovery (ISCR) process. The results of this phase of work will form the basis for ongoing fluid flow modelling and contribute to the ongoing engineering and financial scoping study.

Executive Commentary on Hydrogeological Programme

Adam Wooldridge, Cobre's Chief Executive Officer, expressed satisfaction with the completion of the pumping-injection study, stating, 'Developing a robust hydrogeological model provides the foundation for our ISCR programme. Successful completion of the pumping-injection study provides another milestone in our ISCR development journey.' The study involved the testing of hydraulic connectivity and permeability between two wells, with the results indicating both horizontal and vertical connectivity within the main mineralised fracture zone.

Summary of Hydrogeological Study and ISCR Viability

Cobre's completion of the hydrogeological study at the Ngami Copper Project marks a significant milestone in the development of the In-Situ Copper Recovery (ISCR) process. The study has demonstrated hydraulic connectivity and sufficient permeability to support natural injection for the ISCR process, indicating the viability of extracting copper-silver from the significant strike of mineralisation. The company aims to progress the ISCR process to a development project, with over 500,000 tons of contained copper in the target area. The mineralisation at NCP is amenable to acid leaching, occurs below the water table, and is associated with well-developed fracture zones, satisfying key considerations for ISCR. Cobre's ambitions to prove up a similar ISCR process to other significant deposits present a promising outlook for the company's corporate strategy and the Ngami Copper Project.