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Highlights:
- Cobre has confirmed significant copper mineralisation at Ngami Project in Botswana.
- The company has got results from the first three drill holes of its ongoing programme at Kalahari Metals’ NCP licenses.
- The shares of the company however, ended 39% lower on ASX today.
Australian mineral explorer Cobre Limited (ASX:CBE) shares closed 39.344% lower at AU$0.185 per share on ASX today (21 September 2022).
Meanwhile, the S&P/ASX 200 Materials sector (INDEXASX:XMJ) ended Wednesday’s trading session on a negative note after marking a loss of 2.636% on ASX today.
The company came up with the announcement of the first batch assay results from three of its drill holes at its ongoing drilling programme on Kalahari Metals Limited’s NCP licenses (NCP07, NCP08 and NCP09).
Details of Cobre’s first batch assay results from NCP licenses:
As per Cobre’s update, the assay results have confirmed visual estimates of anomalous copper mineralisation. The NCP08 hole has already proven potential for the economic concentration of mineralisation.
In its latest update, Cobre has also mentioned:
What is next?
In addition to that, Cobre will initiate a further drill testing of targets in the remaining part of the project area when partial leach low detection limit assays get completed on circa 5,000 soil samples.
An overview of Cobre’s share price performance on ASX:
In last one year, Cobre’s share price has appreciated significantly by 32.14% on ASX.
On the other hand, on a YTD basis, Cobre’s share price gained over 105% on ASX (as of 4:10 PM AEST today).
