Cobre Extends Drilling After High-Grade Copper Confirmed at Cosmos Target

Early Signs of a Robust Copper Zone

Cobre Limited (ASX, CBE) has reported encouraging early results from its ongoing drill program at the Cosmos Target, part of the Ngami Copper Project (NCP) in Botswana. The recent diamond drilling has revealed a promising intersection of copper mineralisation, notably in drill hole NCP68, located 400 metres along strike from a previously reported high-grade intercept (NCP55) that included 10 metres at 1.32% copper and 27.7 grams per tonne silver.

These findings, supported by visual mineralisation logging and portable X-ray fluorescence (pXRF) analysis, suggest the presence of a laterally extensive zone exceeding 400 metres in strike length with elevated copper and silver grades. This continuity is a critical factor in assessing the economic potential of the deposit.

Expanding the Drill Program to Confirm Continuity

In response to these promising early indicators, Cobre has expanded its drill program to include two additional infill diamond drill holes positioned on either side of the key NCP55 intercept. These infill holes aim to provide a clearer picture of the grade variability and continuity within the Cosmos Target, which will be instrumental in guiding subsequent exploration and development decisions.

CEO Adam Wooldridge emphasised the significance of these results, stating that the early data confirms higher background copper grades and that the forthcoming drill holes will be pivotal in understanding the deposit's consistency.

Geological Context and Mining Potential

The Cosmos Target lies approximately 8 kilometres from the Comet Deposit, which boasts an indicated and inferred resource of 11.5 million tonnes at 0.52% copper and 11.6 grams per tonne silver. The broader NCP Exploration Target is estimated between 205 and 308 million tonnes grading 0.31 to 0.46% copper and 5.5 to 8.3 grams per tonne silver, with evidence of higher-grade zones that may be amenable to underground mining.

The mineralisation style is sedimentary-hosted and structurally controlled, dominated by fine-grained chalcocite occurring along cleavage planes and fractures. Importantly, this mineralisation is suitable for In-Situ Copper Recovery (ISCR), a less invasive extraction method, as well as conventional underground mining, offering flexibility in future development strategies.

Next Steps and Market Implications

Assay results from the current drill holes are anticipated by late January 2026, which will provide definitive data on copper and silver grades. Meanwhile, Cobre continues to conduct metallurgical and hydrogeological studies to better understand the deposit’s characteristics and recovery potential.

Given the scale of the exploration target and the promising early results, the Ngami Copper Project is positioning itself as a significant copper-silver opportunity within the Kalahari Copper Belt, a region increasingly recognised for its mineral potential.