Deep-South Resources Inc. announced that it has mobilized its field crew to start the drilling program on the Haib Copper project in the south of Namibia. The Company expects that the first drill will be delivered on site on or about November 10, 2023 and the second drill will arrive on or about November 15th, 2023, as part of this proposed drilling program. The specific focus of the drilling campaign is to further drill out the high-grade area of the deposit uncovered by Deep-South in 2019.

The original exploration program was planned to drill up to 10,000 meters in the area. The first 5,000 meters were drilled in 2021. However, the program had been suspended when the Ministry of Mines and Energy of Namibia (the Ministry) has refused to renew the Exploration and Prospecting Licence (EPL).

This legal situation has been resolved and the licence was renewed on July 7, 2023. Deep-South is now set to complete the remaining 5,000 meters of the proposed exploration program and then proceed with a new resource estimation. Previous drilling programs point to the presence of higher copper grade zones, probably associated with near vertical structures (shears and faults) within the broader mineralised areas of the project.

The use of vertical drilling in the past potentially missed those structures resulting in an underestimation of the overall grade. its drilling program is focussing to redress this through the use of inclined holes to identify and delineate these structures and test the association with higher Cu grade zones. The results of the first 5,000 meters drilled in 2021 support this updated interpretation, showing substantial intersections at Cu grades considered high for Haib.

Additionally, the presence of molydenum has been confirmed with high Mo grades obtained in association with structures and alterations.