Three newly identified higher-grade target zones have been outlined by six shallow aircore holes returning samples of more than 2,000 parts per million ('ppm') (0.2% Copper ('Cu')) with these target zones defined by samples ranging from 5,870 ppm Cu (0.58% Cu) to 1,987 ppm Cu (0.20% Cu).
HIGHLIGHTS OF 2023 D-PROSPECT AIRCORE RESULTS
TARGET ZONE 1: Identified by four aircore holes with copper values of: D14-03: 5,870 ppm Cu, D15-02: 5,079 ppm Cu, D16-03B: 2,942 ppm Cu, and D7-04: 4,363 ppm Cu. The footprint of this zone at the base of the Kalahari cover is some 400 metres in length and 100-125 metres in width and remains open to the North and South.
TARGET ZONE 2: Identified by two aircore holes with copper values of: D17-04: 4,657 ppm Cu, and D18-03: 1,987 ppm Cu. The footprint of this zone at the base of the Kalahari cover is some 250 metres in length and 100 metres in width and remains open to the North and potentially at depth to the South.
TARGET ZONE 3: Identified by two aircore holes with copper values of: D18-01: 3,352 ppm Cu, and D17-02: 2,769 ppm Cu. The footprint of this zone at the base of the Kalahari cover is some 200 metres in length and 100 metres in width and remains open to the South.
Note: Reported values are single 1 metre samples representing observed bedrock or weathered bedrock below the Kalahari sand cover, with maximum copper values for each aircore hole, determined by pXRF. Previously reported from 2021 aircore program.
This year's aircore drilling at the D-Prospect was designed to specifically identify, structurally controlled, potentially higher-grade copper zones within the mineralization, as observed at certain, large scale, copper mines in this region of the Zambian Copperbelt. The aircore program has been successful by indicating three such interpreted target zones where higher-grade copper is predicted. Core drill testing of these target zones is planned to commence during September, 2023.
Copper exploration projects with the discovery potential of Pangeni are rare, situated at the western extension to the Zambian Copperbelt that hosts several world-class copper mines, in an area where little historical exploration has been undertaken due to the thin but extensive Kalahari sand cover. The ongoing aircore drilling program is testing additional prospects and targets on the Property. Follow-up core drilling of new and confirmed targets is planned for the remainder of the year.'
PANGENI COPPER PROJECT - 2023 D-PROSPECT AIRCORE RESULTS
The 2023 aircore program at the D-Prospect was designed to identify targets for potential higher-grade zones of copper within the mineralization discovered by the Company under the thin Kalahari sand cover. This objective has been successfully achieved with three exciting target zones defined by the shallow drilling.
Simple contouring of the bedrock and weathered bedrock copper values beneath the Kalahari sand cover unit outlines the target zones.
As designed it appears that with the new sampling results from the 2023 aircore program it is now possible to map target areas where interpreted structural features and relatively reactive host rocks have focused the copper mineralization. Similar higher tenor copper zones controlled by such geological situations are known to exist elsewhere in the
The orientation of these target zones is also generally supported by the interpretation of detailed structural core logging of the drill holes completed to date at this prospect. The target zones are expected to plunge relatively shallowly to the South and South South-West. This likely explains why the aircore holes in the southern area of the prospect do not return elevated copper values, as the target zones are likely below the depth sampled by the shallow aircore in that direction.
The higher-grade target zones are interpreted to range from some 400 to 200 metres in length and 125 to 100 metres in width and are defined by bedrock and weathered bedrock copper values ranging between 5,870 ppm Cu (D14-03) and 1,978 ppm Cu (D18-03). On average in the area of the D-Prospect copper mineralization, core drilled to date, it is covered by 26 metres of Kalahari sand ranging between 18-33 metres in certain areas.
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Cautionary Note Regarding Forward-Looking Statements
This news release contains 'forward-looking statements' and 'forward-looking information' (as defined under applicable securities laws), based on management's best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to future exploration, development and advancement of the Kazan Projects in
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