Cobre Limited: Kalahari Metals - Kitlanya West Exploration Update

Sydney, Australia - Cobre Ltd. (ASX:CBE) is pleased to announce the completion of airborne magnetic and gravity surveys on Kalahari Metal Limited's (KML) wholly owned Kitlanya West (KIT-W) project in Botswana. In addition, diamond drilling has now commenced on the first Airborne Electromagnetic (AEM) target with initial results corroborating the conceptual target model with mineralisation expected on or above the Ngwako Pan Formation (NPF) and D'Kar Formation (DKF) contact.

Highlights:

- Airborne gravity has mapped out an ENE trending gravity low, likely related to the development of a deeper sub-basin in the lower Kalahari Copper Belt (KCB) basin, the margins of which would be considered prospective sites for Cu-Ag mineralisation;

- High-resolution magnetic data clearly map out fold targets in the DKF correlating with, and adding further support for, existing AEM targets;

- Interpretation of magnetic data further suggests that much of the previously interpreted NPF is covered with thin DKF - this would open the possibility for shallow, relatively flat lying mineralisation along the redox contact between these formations;

- The updated interpretation is further supported by regional soil sampling traverses with both Cu and Zn anomalies correlating with the position of the interpreted redox contact between the DKF and NPF; and

- Initial results from diamond drilling confirm the existence of DKF in the fold structures mapped in the AEM modelling.

Interpretation of new geophysical data along with existing soil sampling and ongoing diamond drilling, has further prioritised areas with a high potential for deposition of Cu-Ag mineralisation. The variety of deposition styles, trap sites, scale and distribution of mineralisation within the KIT-W license area, and existence of prospective sub-basins, enhances the potential for the project to deliver new Cu-Ag discoveries in the emerging KCB.

At Kitlanya East (KIT-E), a total of 1,742m of combined Reverse Circulation (RC) (839m) and diamond (903m) drilling has now been completed. An additional diamond rig is scheduled to mobilise onto this programme to help improve production rates this week. Provisional results from this programme will be reported in a forthcoming announcement.

Commenting on recent developments in Botswana, Martin Holland, Cobre's Executive Chairman and Managing Director, said:

"The board and I are extremely encouraged to see continued advancement of the Kitlanya West Project area. The application of this leading edge combined magnetic and gravity survey system has allowed the technical team to take a major step in unlocking the potential to discover significant copper-silver resources. We are excited to see our priority drill target, focused on an AEM signature that is very similar to that of ASX listed Sandfire Resources' T3 & A4 deposits, looks to be located on a basin margin, a prime target site for KCB deposits. We keenly await the results of our current drilling programme."

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About Cobre Limited:

Cobre Ltd. (ASX:CBE) is a copper and base-metals explorer with projects in Western Australia and Botswana. The Company recently discovered a new high-grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia, and is currently exploring approximately 8,100 km2 of tenements within the Kalahari Copper Belt (KCB) in Botswana.

Source:
Cobre Ltd.

Contact:

Cobre Ltd. Martin Holland E: info@cobre.com.au WWW: www.cobre.com.au