Cobre Limited: Kalahari Metals - Commencement of Drilling at Endurance

Sydney, Australia - Cobre Ltd. (ASX:CBE) is pleased to announce commencement of the next phase of drilling at the Endurance Prospect on Kalahari Metals Limited's (KML) wholly-owned Kitlanya East (KIT-E) Project in Botswana.

KML is a private UK company which controls approximately 8,100 km2 of tenements within the Kalahari Copper Belt (KCB) in Botswana (with 6,650 km2 owned 100%, and 1,450 km2 through Joint Venture arrangements). Cobre currently holds a 49.9% ownership in KML and will move to 51% ownership once it receives change of control approval from the Ministry of Mines of Botswana which is still pending

Following on from the ASX announcement on 13October 2021, Mitchell Drilling International have mobilised two diamond core drill rigs to the Endurance Prospect. Drilling will test priority targets identified in the previous round of Reverse Circulation (RC) and diamond core drilling with 8 priority holes, totalling approximately 2,350m, planned to test doubly plunging fold targets and anticlines identified from modelling of Airborne Electromagnetic (AEM) data.

Commenting on the commencement of the drill program at the Endurance Prospect, Cobre Executive Charmain and Managing Director Martin Holland said:

Given the encouraging results recently released to the market, and extensive size of the target area within the Endurance prospect, we believe this area holds significant potential for a new discovery and are excited by this next phase of the Company's exploration program in Botswana. I look forward to updating the market at the appropriate stages as the program progresses.

Endurance Priority 1 Drill Targets

A set of priority targets for follow-up drill testing were identified and ranked using a combination of drill results, AEM, soil sampling and magnetic data (see ASX announcement 13 October 2021). The targets were then used to prioritise a set of drill holes for the current work programme (refer Figure 1*).

Planned drill holes are illustrated with AEM conductivity-depth sections in 3D and section views in Figures 2 to 7*.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/U8G3RYPH

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