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MENAFN - ProactiveInvestors - Australia - 08/11/2012

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(MENAFN - ProactiveInvestors - Australia) Golden Deeps (ASX: GED) has discovered high grade copper from a four hole reverse circulation drilling program at the historic Deblin copper mine, which is located on the company's (80%) Grootfontein base metals project in Namibia.

The program was targeting historic drill intercepts from the 1970's, while providing geological, structural and mineralogical information, and also testing new interpretation of the mineralisation geometry.

Reverse circulation drilling highlights include:

- 8 metres at 1.28% copper and 2g/t silver from 87 metres, including 3 metres at 2.96% copper and 4.83g/t silver; and
- 7 metres at 3.23% copper and 7.93g/t silver from 169 metres, including 3 metres at 6.08% copper and 17.67g/t silver.

Importantly the drilling identified that the mineralised zone is open in all directions, while also extending the known deposit.

Follow-up drilling will commence shortly along with electromagnetic surveying, which is aimed at outlining the full extent of the copper mineralisation, as the project moves towards a JORC Resource.

The Grootfontein project covers over 1100 square kilometres.


Askevold Copper Trend

Deblin is just one of an emerging number of copper targets which have been identified by Golden Deeps on the 30 kilometre long Askevold Copper Trend, which is in the Otavi Mountain Land.

The area is a globally significant base metals province, and includes the now closed Tsumed mine which produced 24.9 million tonnes at 5.5% copper, 11.8% lead and 171g/t silver.

 






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