Deep-South Resource is a mineral exploration company, largely held by Namibian shareholders and by Teck Resources Ltd, which holds about 35% of Deep-South share capital. Deep-South is actively involved in the acquisition, exploration and development of major mineral properties in Africa. Deep-South growth strategy is to focus on the exploration and development of quality assets, in significant mineralized trends, close to infrastructure, in stable countries.
In Namibia, we are guided by integrity values that keep us focused on our purpose: to turn our exploration projects into lasting reality for our empowered Namibian communities. Deep-South is committed to advancing its projects while operating in an environmentally responsible manner.
Deep-South holds 100% of the Haib Copper deposit in the south of Namibia. Haib is arguably the oldest porphyry deposit in the world and one of the largest in Africa.
Deep-South is actively seeking other precious and base metals projects in Namibia and in other stable countries.
The Haib project is a large copper-molybdenum porphyry deposit located in the Karas region of southern Namibia, 8 km from the Orange River and the South African border.
The deposit is a porphyry copper-molybdenum dating from the Archean age. The Haib Cu-Mo deposit is arguably the oldest porphyry deposit in the world, which hosts easily identifiable porphyry veins and alteration. The principal mineralised hosts at Haib are a quartz feldspar porphyry and a feldspar porphyry rock.
The main ore mineral at Haib is chalcopyrite, but minor amounts of bornite, chalcocite and the various green copper oxides can also be found. Oxidation is very shallow, usually less than 30m, and sulphides are common at surface.
The deposit, discovered in the 1950’s, has seen over 50,000 metres of drilling in the 1970’s by companies such as Rio Tinto and Falconbridge Ltd.
Since 2010, Teck Namibia completed over 14,000 metres of drilling with results such as: 121 m @ 0.5% Cu, 494 m @ 0.36% Cu and 30 m @ 0.81% Cu.
Teck’s work has enable to delineate four higher grade zones (+ 0.50%) within the main deposit and 5 new satellites that will be the target for future exploration programs.
The deposit has a Historic Estimate of 1.3 Bt @ 0.22% Cu including 244 Mt @ 0.37% Cu (Stuart-Williams 2004). There are no Mo assays for this resource estimate. The deposit is roughly 2 km long and 1 km wide, and extends from surface to over 800m deep but only the top 400m was used for the resource estimate;
A report from Behre Dolbear, completed in 1996, has estimated the Historical Estimates at Haib in a range presented in the table below:
|Haib Historical Estimate - Behre Dolbear / GSM|
|GFM Model||Behre Dolbear’s Model|
|Kriging||Inverse Distance Squared||Nearest Neighbour|
|Million Tonnes||Grade % Cu||Million Tonnes||Grade % Cu||Million Tonnes||Grade % Cu||Million Tonnes||Grade % Cu|
GFM and Behre Dolbear models used the Kriging method as the basis for their estimate calculations. Kriging is a statistical estimation technique widely used for porphyry deposits. The other methods used by Behre Dolbear were used for validation of the estimates.
Behre Dolbear report was produced from a geostatistical block model completed 1996 by Great Fitzroy Mineral by (“GFM”). The Historical Estimate comprised principally the compilation and verification of the all drillhole data incorporating all available data to the end of the Rio Tinto Zinc programme completed in 1975 and comprising over 50,000 metres of drilling.
The estimates of tonnages and grades quoted in this report were prepared prior to publication of National Instrument 43-101 in 2001 and are considered as Historical Estimates. The historical grades and resources terminology from the original historical reports are to be used only as a reference and should not be considered as a current mineral resource under NI 43-101 but are to be considered as Historical Estimates as per the NI 43-101 Rules and Policies.
The main exploration goal on Haib is to define properly the four higher grade areas (+0.50% Cu) delineated within the main deposit in order to define an economic resource that will enable the development of the deposit. The second goal is to proceed with process technology testing in order to define the best and most economical extraction technology for Haib ore. The third goal is to explore the five satellite bodies recently discovered in order to see what tonnage and grade they can add to the main deposit.
We have an extensive data base, which includes most of the past exploration work data and reports. Our data base also comprises 108 well preserved drilling cores from 45,000 meters of drilling carried out by Rio Tinto Zinc in the 1970’s.
The work currently currently in progress will enable to finalize the 3D model, re-estimate the resource and validate the economics. Our most recent focus is:
- to complete new resource estimate using the geological controls of the 3D model;
- understand the economic parameters for potential development options;
- to complete metallurgical test work of samples collected in 2014 in order to define the recoveries of the ore types from the geological model;
- to finalize a new economic assessment once all the above parameters are understood.
In the past 5 years, Teck has completed the following exploration work:
- Using the Anaconda mapping method, has mapped the deposit at 1:2,000 scale and surrounding prospects at 1:10,000 scale (total of 70km²)
- Regional stream sediment, soil and rock chip sampling defining several satellite targets;
- 85 line km of IP (RIP, PDP and AMT) further defining the satellite targets;
- Re-logged all of the historic RTZ drillholes in detail (108 total);
- Re-assayed 14 historic RTZ holes for Mo, and also concluded that the Cu results correlated well with the original RTZ assays;
- 32 diamond drillholes (14,252m);Drilled within the historically defined orebody, eastern IP anomaly, Haib South and Haib West satellite targets;
- Combined drilling and surface geological information into new 3D geological model.
DSM holds 100% of Haib Copper
Teck Resources holds 35% of DSM
Deep-South Resources updates the acquisition of 75% of the INAL property neighboring the Kinross Tasiast gold mine in Mauritania and updates its financing
Deep-South will complete a 43-101 Resource estimation of Haib Copper and will proceed with a private placement