Deep-South to Drill the Haib Copper project in the south of Namibia
Vancouver, B.C., Canada – November 23, 2020 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSX-V: DSM). Announces that it has entered into an agreement with Ferrodrill Namibia (Pty) Ltd in order to proceed with the drilling program on the Haib Copper project in the south of Namibia. Ferrodrill is a Namibian drilling contractor providing full drilling services since 2007 and has provided services to a large number companies from exploration to major mining companies. The contract provides for 5,000 meters of diamond drilling. Drilling planning and preparation is on track and we will inform our shareholders of the schedule and complete program in due course.
The specific focus of the drilling campaign will be to drill the high-grade area of the deposit uncovered by Deep-South in 2019. The overall program is planned to drill up to 12,000 meters in the area. The first part of the program is to drill 5,000 meters with the goal of infilling gaps in previous drilling to improve the average grade and expand the tonnage of this specific area and eventually estimate a measured resource for the area. The first part of the drilling program will serve as a basis to plan the second phase of the drilling program.
Prospectivity of the high-grade area is clearly demonstrated by numerous drill intersections such as:
- HB026: 12m @ 1.81% Cu and 30 ppm MO from 38m
- HB041: 56m @ 0.76% Cu and 74 ppm MO from 18m
- GFMHB09: 40m @ 0.64% Cu and 75 ppm MO from 150m
- GFMHB10: 140m @ 0.62% Cu and 57 ppm MO from 20m
- GFMHB08: 230m @ 0.59% Cu and 64 ppm MO from 86m
- GFMHB07: 112m @ 0.52% Cu and 37 ppm MO from 14m
- HB092: 44m @ 0.53% Cu and 30 ppm MO from 60m
The Haib Copper deposit is a porphyry copper containing a NI 43-101 compliant indicated resource of 457 MT @ 0.31% Cu for 3.12 billion lbs copper and an inferred resource of 342 MT @ 0.29% Cu for 2.19 billion lbs copper. Deep-South has disclosed a robust Preliminary Economic Assessment (PEA) on May 20, 2020. The press release disclosing the NI 43-101 resource estimation and the PEA reports can be seen here: https://www.deepsouthresources.com/deep-souths-pea-shows-robust-economics/
Please note that: Mineral Resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates are based on Indicated Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. However, there is no certainty that these indicated mineral resources will be converted to measured categories through further drilling, or into mineral reserves, once economic considerations are applied. There is no certainty that the preliminary economic assessment will be realized.
Mr. Dean Richards Pr.Sci.Nat. , MGSSA – BSc. (Hons.) Geology, of Obsidian Consulting Services is the contributing author of the 43-101 resource estimation report and is responsible for the technical part of this press release and is the designated Qualified Person under the terms of National Instrument 43-101.
About Deep-South Resources Inc.
Deep-South Resources Inc. is a mineral exploration company largely held by Namibian shareholders and Management - Directors with 19% and Teck Resources Ltd with 21% of Deep-South share capital.
Deep-South currently holds 100% of the Haib Copper project in Namibia, one of the largest copper porphyry deposits in Africa. Deep-South also holds an investment of 75% in the Kapili Tepe Copper exploration project in Turkey.
Deep-South’s growth strategy is to focus on the exploration and development of quality assets, in significant mineralized zones, close to infrastructure, in stable countries.
This press release contains certain "forward-looking statements," as identified in Deep- South’s periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
More information is available by contacting Pierre Léveillé, President & CEO at
+1-819-340-0140 or at: firstname.lastname@example.org or
Paradox Public Relations at +1-514-341-0408.
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