GOLDEN DEEPS LIMITED Golden Deeps Limited ("Golden Deeps" or "Company") announced exceptional, thick and high-grade, diamond drilling intersections of copper-vanadium-lead-silver mineralisation at its Nosib Block ("Nosib") Prospect, located in the Otavi Mountain Land of northern Namibia. Diamond drillhole, NSBDD008, produced an intersection from surface of: 53.52m @ 1.15% Cu, 0.62% V2O5, 3.49% Pb, 4.57 g/t Ag (3.6% CuEq) from surface, including: 25.74m @ 1.71% Cu, 1.17% V2O5, 6.57% Pb, 4.92 g/t Ag (6.3% CuEq) from 2.26m including: 11.74m @ 2.67% Cu, 1.42% V2O5, 9.21% Pb, 7.12 g/t Ag (8.5% CuEq) from 2.26m. Vertical diamond drillhole NSBDD008 tested the moderately dipping mineralisation from surface through the entire mineralised Nosib arenite unit.
A second, sulphide, intersection in this hole was produced on the footwall: 10.60m @ 0.75% Cu, 3.75g/t Ag from 64m incl. 2.47m @ 1.75% Cu, 8.05g/t Ag. The intersection in NSBDD008 is within the shallow, high-grade, copper-vanadium-lead-silver supergene zone at Nosib, that produced previous diamond drilling results including the very high-grade intersection from NSBDD0022 below: NSBDD002: 20.85m @ 2.0% Cu, 1.54% V2O5, 6.0% Pb, 7.7 g/t Ag (6.4% CuEq) from 0m incl.
12.10m @ 3.2% Cu, 2.54% V2O5, 9.8% Pb, 8.0 g/t Ag (10.3% CuEq) from 0m incl. 3.00m @ 6.3% Cu, 7.82% V2O5, 21.9% Pb, 6.4 g/t Ag (25.9% CuEq) from 7.3m. This shallow, high-grade, copper-vanadium-lead-silver mineralised zone has now been tested over a 100m strike length and continues from surface to approximately 50m vertical depth.
The zone remains open to the northeast and southwest at surface. Deeper diamond drilling produced a thick stratabound intersection of copper-silver mineralisation in NSBDD007: 16.45m @ 0.46% Cu, 4.31 g/t Ag from 94m incl. 1.19m @ 2.00% Cu, 28.2 g/t Ag.
This intersection is of similar "tenor" to the previously reported intersection in NSBDD0033 of: NSBDD003: 35.84m @ 0.45% Cu, 3.8 g/t Ag (0.53% CuEq) from 71.0m incl. 22.71m @ 0.54% Cu, 4.6 g/t Ag (0.64% CuEq) from 71.0m incl. 4.07m @ 1.13% Cu, 9.3 g/t Ag (1.27% CuEq) from 89.03m incl.
0.40m @ 6.81% Cu, 41.6 g/t Ag (7.3% CuEq) from 92.7m. In addition, diamond drillhole NSBDD009 tested extensions along strike to the northeast of the mineralised zone, intersecting 25.84m @ 0.36% Cu, 2.33 g/t Au from 7.16m incl. 4.18m @ 1.28% Cu, 6.65 g/t Au, which is open to the northeast with NSBDD0010 results to come.
Next Steps Metallurgical Testwork and a Maiden Resource Estimate for the Nosib Prospect: Samples of diamond drill-core from NSBDD008 and other previous intersections (e.g. NSBDD002) will now being aggregated to produce a bulk sample for gravity concentration testwork, along similar lines to the testwork being carried out on the Abenab high-grade vanadium-lead-zinc deposit, located 20km to the northeast of Nosib. The gravity concentration testwork will aim to generate 3 to 5kg of material, targeting a 15 times upgrade of vanadium and lead, as well as copper. The Nosib gravity concentrate sample will then be subjected to Stage 1 Hydrometallurgical leach testwork based on the new-flowsheet developed for the Abenab project.
The results of the initial testwork on the Nosib mineralisation will then be up-scaled to apply to a bulk-trial mining sample of approximately three (3) tonnes being excavated from surface. In parallel with the testwork, a maiden resource estimate will be produced for the Nosib supergene vanadium-copper-lead-silver mineralisation prior to initial open-pit optimisation and mining studies. About the Company's Otavi Mountain Land Projects: The Nosib, Abenab and Khusib Springs prospects are located approximately 20km apart, within EPL3543 and EPL5496, in the world-class Otavi Mountain Land Copper District of Namibia.
This district includes major historical mines such as Tsumeb, 40km NW of the tenements, that produced 30Mt of ore grading 4.3% Cu, 10% Pb and 3.5% Zn4 between 1905 and 1996. Nosib Prospect: At the Nosib Block (Nosib) prospect, the Company recently completed a ten diamond drillhole program for 942m of drillcore. The program included six holes that tested the shallow, high-grade, copper-lead-vanadium zone, both within the defined shoot for definition and metallurgical purposes, as well as along strike where the zone is open to the east.
A further four diamond drillholes have tested extensions of the thick, stratabound, copper-silver zone at depth that has produced significant true-width intersections of copper-silver mineralisation up to 45m thick, across the entire thickness of the host arenite unit. The diamond drilling has defined and extended the shallow, high-grade, copper- vanadium - lead zone over a strike-length of over 100m and to a depth of >50m below surface. The diamond drilling has confirmed the previously announced reverse circulation (RC) high-grade drilling intersections of copper, vanadium and lead with silver from the shallow oxide zone5,6, that included: NSBRC0075: 24m @ 1.33% Cu, 4.77% Pb, 1.37% V2O5, 3.67g/t Ag from 3m incl.
6m @ 3.67% Cu, 14.9% Pb, 4.40% V2O5, 12.16g/t Ag from 6m, and, NSBRC0106: 29m @ 1.54% Cu, 4.49% Pb, 1.19% V2O5, 6.97g/t Ag from 2m incl. 9m @ 3.66% Cu, 11.91% Pb, 3.62% V2O5, 7.70g/t Ag from 3m. The mineralisation at Nosib has been defined on <20m x 20m spacing with both RC and diamond drilling.
Interpretation and modelling will now be carried out in order to prepare a maiden Mineral Resource estimate for the shallow high-grade supergene copper-vanadium-lead-silver zone.
