AMN - NAMIBIA: Deep-South plans Haib exploration

Deep-South Resources is advancing exploration on the Haib Copper-Molybdenum Project in Namibia and is planning a 2017-2018 exploration program to better define the high-grade zones, grow confidence in the economics of the project and to delineate a NI 43-101 compliant resource estimate.

The company recently signed an agreement with Teck Namibia, a subsidiary of Teck Resources, which gives it full ownership of the project.

The deal is representative of Deep South’s growth strategy which is focused on the exploration and development of quality assets in significant mineralised trends, close to infrastructure and in stable countries.

Haib hosts one of the largest copper porphyry deposits in Africa and recent exploration by Teck Namibia identified new high-grade zones with five highly prospective targets for further exploration.

Deep-South is led by a strong management and exploration team with decades of experience in finance, mining and exploration in Africa, particularly in Namibia.

The Haib project covers 37,000 hectares and hosts a large copper-molybdenum porphyry deposit discovered in the early 1900s. The deposit is approximately 2 km-long and 1 km-wide, extending from surface to over 800 metres deep. It is considered the oldest porphyry deposit in the world and contains easily identifiable porphyry veins and alteration.

In the Karas region of southern Namibia, the project lies 8 km from the Orange River and the South African border, and 3 km from main power lines and the main interstate highway which connects Namibia and South Africa. Other infrastructure in the area includes the railway station 100 km away at Grunau which could provide access to multiple ports.

Teck Namibia took control of the project in 2008. Teck’s exploration program was on a more regional scale than previous operators and focused on determining the deposit’s potential for large-scale mining and improving the economics of the project by targeting higher-grade mineralization.

Between 2010 and 2015, the company completed 14,252 metres in 32 diamond drill holes on the historically defined ore body, the eastern IP anomaly, and the Haib South and Haib West satellite targets.

“What is attractive about this project is that we have clearly defined high grade areas and Teck’s recent work shows that we can potentially increase the tonnage substantially because this porphyry system tends to open up as it goes deeper; especially between a depth of 300 and 500 metres below surface,” said Deep-South President and CEO Pierre Léveillé.

www.deepsouthresources.com

News courtesy of International Mining